Company registration in Portugal | ||||||
|---|---|---|---|---|---|---|
| Name of service | Package Economy | Package Standard | Package Full | Package Plus | Package Exclusive | |
| Company registration, including the payment of state fees | + | + | + | + | + | |
| Legal address for 1 year | – | + | + | + | + | |
| Remote opening, including the transfer of power of attorney | – | – | + | + | + | |
| Bank account | – | – | – | + | + | |
| Accounting service for 1 year | – | – | – | – | + | |
| Total cost | 4300 EUR | 5500 EUR | 5800 EUR | 6000 EUR | 9500 EUR | |
Order | Order | Order | Order | Order | ||
General information
Portugal as an independent kingdom on the world maps appeared in 1143, but in the middle of the millennium the country had become one of the world leaders in the international political, economic and military areas. Thanks to the development of maritime, Portugal became a strong naval force and actively colonized the land in all parts of the world. Formally, most recently the former colonies regained full independence: in 1999 Macao was transferred to China and in 2002 in East Timor gained independence. In the best years of Portugal under the power of the crown were lands, where currently are 53 world countries.
After the overthrow of the monarchy in 1910 and the state apparatus reforms in the second half of the 20th century, Portugal has become a parliamentary republic. An important role in the national economy played agriculture, food and light industry. Major industries include textiles and clothing, olive oil and wine production, fishing. In recent decades, aims of the reform are economic liberalization and modernization, but the global economic crisis, large foreign debts and high unemployment negatively affects the country’s economic situation.
The most common business entities
The most popular type of business for foreign businessmen is a private limited liability company (PLLC)
Corporate legislation
The Portuguese legal system is based on common law and the French Corporate legislation Code regulates corporate legislation law, including new European trends.
Registered capital
There is no minimum authorized capital for PLLC; however, there is a requirement to a minimum value of the share- 1 EUR.
The main requirements for the directors and shareholders
In a limited liability company in Portugal can be one director, without special requirements to the place of residence and legal form, but each director must obtain a tax identification number or resident representative for legal persons. It is important to note that in Portugal Director shall be jointly responsible for all the company’s activities, so nominal directors are not popular.
Minimum number of participants in PLLC- two, without restrictions for residency and the legal form, but each of them must be registered with the tax authorities or have a resident representative.
Information about the directors and shareholders is available in public registers.
Disclosure of the company’s beneficial to the government bodies
Information about the beneficial owner is not disclosed.
Taxation
The main tax is the profit tax and personal income tax. There are also a number of indirect taxes. Income tax is declared and paid for 5 months after end of the fiscal year.
Accounting
In Portugal, each company is required to keep and submit financial statements. Reports are publicly available..