The Portuguese Republic argues for a developed commercial environment with streamlining of the firm establishment. The government actively fosters investment, job growth, and foreign national company development. Whether single proprietors or in another kind of ownership, immigrants starting a company in Portugal might benefit from a particular tax structure and the possibility of resident status for their complete family. Start a business in Portugal that grants equal rights to both immigrants and native Portuguese.
Business Types in Portugal
Your choice of the Portuguese company entity will depend on the number of owners, the necessary cash, and the kind of business activity. Starting a business in Portugal is usually achieved by utilizing public limited partnerships and limited liability companies. Businesses in Portugal mostly fall into these categories:
- Sole Proprietorship
This kind of company is registered in the name of a single person who has to be mentioned on the corporate title. Since the formation of intellectual property does not call for minimum capital, the owner is personally liable for the financial operations and responsibilities of the company.
- Partnership
There are a minimum of two members of this legal entity. From their financial reserves, general partners may meet business commitments and take on limitless liability. The name of the company comes from at least one LP member.
- Limited Liability Company
One or more owners creating this legal body might follow the rights and responsibilities stated in the charter of the company. Legal mandatory minimum capital is not existent. To the degree of their part stated in the charter, each associate or progenitor is accountable for the activities of the firm.
- Public Limited Company
Usually, larger companies with five or more partners use this corporate form. There is fifty thousand euros minimum required capital. Based on their contributions, every partner owns a different share of the company. Their portion of ownership is all that defines their obligation.
Conditions for Registering a Business
Originally adopted in Decree No. 262/86, the current Code of Commercial Companies grants foreigners the same rights as Portuguese citizens, to open a business in Lisbon. The legislation also allows companies to register without a physical visit to the country, therefore facilitating the process to be completed via intermediaries or trustworthy representatives.
A foreigner needs first a tax identification number (Número de Identificação Fiscal, NIF). With this figure, the candidate might look for a digital mobile key (Chave Móvel Digital, CMD) to access government services online.
Opening a Business
This is a comprehensive walk-through guide for foreign residents’ company registration in Portugal:
- Collect and prepare documents. Regarding document collection and preparation, the owners give a taxpayer identification number (NIF) in Portugal priority. Either official representatives or personally visiting a Financial Service office in Portugal would help you to do this. NIF registration is free even if intermediary services might cost extra. Once you have the NIF, the Autenticação.gov portal or the smartphone app will let you create a digital key.
- Register the company (online option available). To register the firm, the registrant has to authenticate on the ePortugal or Empresa Online 2.0 website using their cell phone and digital key. After that, you will have to turn in a general form with details such as the kind of company, its degree of activity, the names of the owners, and the authorized capital amount. You may provide up to nine of your selections for validation and approval, or you might choose from a list of suggestions the business name from which to start. You might also choose to use a signed customized paper or a standard agreement submitted.
- Pay the registration fee. The kind of charter chosen determines the registration cost of a legal entity. Should the set criteria be followed using the certified form, the payment comes at 220 EUR. Should the company be founded under a customized agreement developed by the partners, the state fee is 360 EUR. One may pay online using a Portuguese account (MB-Way) or at a Portuguese ATM.
- Obtain a registration certificate. After the registration is finalized, the authors might get a certificate proving the company’s status via their account on the ePortugal or Empresa Online 2.0 website. Application for a category D national business visa at a consulate and later immigration to Portugal requires this certificate.
Basic Documents for Company Registration
To start a company in Portugal, the following paperwork has to be acquired:
- For every founder, a current identity document is a passport;
- Taxpayer identity number, or NIF;
- An electronic key;
- Optional business charter.
Online company registration calls for little documents, hence a trip to Portugal is not necessary. The laws allow foreigners to form a company via intermediaries. After the legal firm is created, the founders might apply for business immigration to Portugal using the registration document, therefore obtaining a resident visa for their full family.
How to get a Portuguese residence permit through business?
Opening a business in Portugal gives foreigners the opportunity to apply for a category D visa, therefore allowing their immigration to Portugal. Arriving they must contact the local immigration authority (Agência para an Integração, Migração e Asilo, AIMA), which handles resident applications. Originally valid for two years, the resident permit for commercial use may be extended for three additional years. Five years after arrival, immigrants might be seeking Portuguese citizenship.
Business immigrants in Porto will have access to moderately priced initiatives aiming at obtaining an EU passport in 2024. One may have them in twelve months. See an immigration attorney to review the nuances of relocation to Europe and create a comprehensive plan for compiling residency paperwork for the complete family.
