How to start a business in Portugal?

For 10 years now, Portugal has remained the most promising country for investment. Especially for persons who are not EU citizens. The authorities support the initiative to attract foreigners to the development of the country's economy in every possible way. This is confirmed by unique offers in the form of a simplified residence permit or the opportunity to become a citizen of Portugal in 5 years.

The reason for choosing Portugal is not only the simplified procedure of opening your own business, but also the geography of the country with comfortable living conditions. Adaptation will not be a problem, because the ocean coast and 300 days of summer every year will not leave everyone indifferent.

 

To open a business in Portugal, foreign citizens can use one of the visas offered by the country. Each of them provides an opportunity to live and work under the conditions of the obtained residence permit:

• Golden visa - offers obtaining a residence permit by investing in the economy of the country (purchase of real estate, opening and development of business, financial contributions).
• Startup visa - provides for the opening of innovative projects on the basis of incubators or their transfer to Portugal.
• D2 visa - entrepreneur visa, according to which a foreigner has plans to open a business within the country. Also available options for branch registration. Separately, it should be noted the possibility of buying a business already ready and registered in Portugal.

Such opportunities encourage you to choose this country for your business. It is quite easy to open a company in Portugal, as well as to get the opportunity to stay in the country permanently to do business. The biggest plus will be obtaining citizenship in a European country within a short period of time.

 

Company registration procedure in Portugal

Before proceeding to the direct procedure, which involves collecting a package of documents and visiting various authorities, it is necessary to conceptually decide:

• field of activity;
• the organizational and legal form of the future business.

Some of the most common sectors to open in Portugal are wine making, textiles and food processing. In addition to manufacturing, a large percentage of foreign business is in the IT sector. The traditional trade and services sector is no exception.

The easiest to open is individual entrepreneurship, which refers to the kind of small business and is supported by the state in every possible way. You can register as an entrepreneur quickly enough, including in the online format. The second option is necessary for the registration of small and medium-sized businesses. In the first appropriate will be CJSC, and for a larger company - LLC.

Before opening a legal entity must come up with a unique name and determine the location of the company. During the following stages it is necessary:

1. Have the signature on the social contract witnessed by a notary or lawyer;
2. Register the chosen company name in the National Register of Legal Entities (Registro Nacional de Pessoas Colectivas, RNPC) and in the Commercial
3. Register or choose a name from the list of reserved names in the RNPC database.
4. Register the company in the Trade Register and pay the necessary tax.
5. Open a bank account with the starting authorized capital that corresponds to the chosen type of company.
6. Submit the necessary documents for registration to the Portuguese Ministry of Economy within the prescribed deadline.

It should be noted that a legal agency will help to simplify the opening of the company. Within the framework of the concluded contract and on the basis of a power of attorney, specialists will be able to perform the procedure even without the physical presence of the customer.