Our office offers the service of opening a company in Portugal. Basically, the client will only need to provide the necessary documents (sent in a list).
To open a company in Portugal, it is necessary to follow some steps:
Company name: You will need to choose a name for the company. It is important to check that the name chosen is not already registered by another company. Before you register a company name, you must ask for a certificate that guarantees that you can use that name.
Commercial registration: The company must be registered at the National Register of Legal Entities (RNPC). After registration, the company will obtain the “Legal Entity Identification Number” (in Portuguese: “Número de Identificação de Pessoa Coletiva” – NIPC).
Choice of legal form: The interested party must choose the legal form of the company, which can be a private limited company (LDA), a public limited company (SA), or an individual entrepreneur (ENI). The choice of legal form should be the one that best suits the needs of the interested party. Therefore, the guidance of a lawyer is strongly recommended (check that it is a professional who actually has a registration number in Portugal – Portuguese Bar Association).
Preparation of the by-laws: The company must have its by-laws, which are a set of internal rules that define its structure and operation. Again, legal assistance is recommended to ensure that the statutes are in accordance with Portuguese law.
Share capital: The company must have the share capital, according to the legal form chosen. To do so, it must deposit the respective amount in a bank account in the company’s name.
Obtaining licenses and permits: Depending on the industry in which the company operates, it may be necessary to obtain additional approvals. You will therefore need to check whether your business activity requires specific licenses or permits.
Social Security and Tax Registration: The company must be registered with the Social Security in Portugal as an employer. In addition, the company must also be registered with the Portuguese Tax and Customs Authority for tax purposes (Finanças). These registrations are mandatory for companies in Portugal.
Hiring personnel: If the company plans to hire employees, it must fulfill the legal obligations regarding labor contracts, social contributions and health insurance.
Opening a business bank account in Portugal: The company must have a bank account for business and financial purposes.
Adriano Martins Pinheiro, lawyer in Portugal.
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