Advices

ADVICE #233

How to register a company in Portugal?

Portugal is a country with one of the highest unemployment rates in Europe. Therefore, foreign businessmen who are willing to establish their company here are welcome. Recently the level of the famous Portuguese bureaucracy has greatly decreased, and now you can register your company in a day through the Internet (assuming you know the Portuguese language). When establishing a company you should take into account that Portugal is a country of small companies and individual entrepreneurs. And before registering your company it is worth meeting with the competitors, in which the Portuguese have much more confidence than in the foreigners. You can contact your local chamber of commerce (câmara de comércio) for support on this issue. In addition, prior to establishing the company you should consult with a lawyer and an accountant to make sure you comply with all the rules and meet all the requirements. There are a lot of them, and a foreigner cannot do without confirming the fact that all operations are carried out within the legal framework, a foreigner can not do. To register the company you must submit the resident's card, individual tax number, social security card, a certificate of opening a corporate account in a Portuguese bank, an earnings certificate and Portuguese work permit to the local Chamber of Commerce. With these documents, you can register a company in one day.

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