Portugal - Establishing an Office Portugal- Establishing an Office
Establishing an Office
The process of setting up a business in Portugal has been simplified over the past couple of years. There are several available methods from which to choose. The Business Gateway (Portal da Empresa) offers a program called “On-the-Spot Firm”, which is described below. There is also an “On-line Company” registration method, along with the traditional Commercial Registry office process. The online registration process can take as little as one to two days.
The “On-the-Spot Firm” method facilitates the establishment of a single shareholder limited liability company, a private limited company or partnership, or a public limited company in less than 60 minutes. All the procedures are carried out in one place if the partners have all the necessary documentation and the company is registered through the “On-the-Spot Firm” Program. This service is available throughout the country.
Key Link: http://www.empresanahora.pt/ENH/sections/PT_inicio.html
To use the On-Line Company method, digital certification from the user is required (e.g., citizen ID card). Through this method, it is possible to set up companies of any type, except for European Public Limited companies and companies whose capital is paid through contributions in kind. For the latter, transfer of assets to the company by shareholders must be done through a more formal process.
Key Link: http://www.empresanahora.pt/ENH/sections/PT_inicio.html
The traditional method requires various visits to different entities, but has the advantage of personal contact. Espaço Empresa provides information and assistance in setting up a business.
Key Link: https://bde.portaldocidadao.pt/evo/landingpage.aspx
Companies must also register with the Directorate General for Economic Activity (DGAE), the Tax Authority (AT), and with the Social Security administration. The online registration process can take as little as one to two days.
In line with the EU, Portugal defines an enterprise as micro, small, and medium-sized based on its headcount, annual turnover, or the size of its balance sheet. To qualify as a micro-enterprise, a company must have less than 10 employees and no more than €2 million in revenues or €2 million in assets. Small enterprises must have less than 50 employees and no more than €10 million in revenues or €10 million in assets. Medium-sized enterprises must have less than 250 employees and no more than €50 million in revenues or €43 million in assets. The SME Support Institute (IAPMEI) offers financing, training, and other services for SMEs based in Portugal: http://www.iapmei.pt/
More information on laws, procedures, registration requirements, and investment incentives for foreign investors in Portugal is available here, at AICEP’s website: http://www.portugalglobal.pt/EN/InvestInPortugal/howtosetupacompany/Paginas/HowtoSetupaCompany.aspx
Any American entity interested in establishing a company in Portugal should both visit the U.S. Commercial Service office of the U.S. Embassy in Lisbon to discuss the project and obtain additional information.
Key Link: http://www.portugalglobal.pt/EN/INVESTINPORTUGAL/Pages/index.aspx
For further information on establishing an office in Europe, please consult the European Commission which manages the Your Europe (http://europa.eu/youreurope/business/index_en.htm) website where investors can find useful information.