Setting up a company in Portugal involves several steps that need to be followed according to Portuguese law. Here is a general outline of the process.
1. Determine the type of the company
Decide on the legal structure of your company, such as a limited liability company (Sociedade por Quotas – LDA), joint-stock company (Sociedade Anónima – SA), or sole proprietorship (Empresa Individual – ENI).
2. Reserve a Company Name
Choose a unique name for your company and verify its availability with the National Registry of Collective Entities (Registo Nacional de Pessoas Coletivas – RNPC). You can do this online through the RNPC’s website.
3. Draft the Company’s Articles of Association
Prepare the Articles of Association, which outlines the company’s purpose, share capital, management structure, and other relevant details.
4. Obtain a Fiscal Number
If you are a foreigner, don´t have a tax number and intend to be a partner/shareholder or manager of the company, you should request a Fiscal Number (Número de Identificação Fiscal – NIF) from the Portuguese Tax Authority (Autoridade Tributária e Aduaneira – AT). This can be done online or in person at a local tax office.
5. Register the Company
– Register your company with the Commercial Registry Office (Conservatória do Registo Comercial) in the district where your company will be located.
– Submit the necessary documents, including the Articles of Association and identification documents of the company’s shareholders.
6. Open a Bank Account
Open a corporate bank account in Portugal and deposit the required share capital. The minimum share capital depends on the type of company you choose.
7. Obtain a Business License (if applicable)
Depending on the nature of your business activities, you may need to apply for specific licenses or permits from relevant authorities. Consult with the competent entities to determine if any licenses are required for your business.
8. Register with Social Security and Labor Authorities
If you plan to hire employees, register with the Portuguese Social Security and Labor Authorities. This involves obtaining an employer identification number and fulfilling other obligations related to social security contributions and labour laws.
9. Fulfil Additional Obligations
Comply with other legal obligations, such as registering with the Portuguese Commercial Registry for the publication of company acts and annual financial statements.
Please note that this is a general overview of the process, and specific requirements may vary depending on the type of company and individual circumstances. Consult us to ensure compliance with all legal requirements.