Since 2005, Portugal has had an online business registration service, On The Spot Firm. It allows you to set up a company within an hour by filling in just one form at justica.gov.pt.
The registration procedure takes place in four steps:
3
Preparing company statutes
4
Visit to the Empresa na Hora branch to register
The list of documents for registration depends on whether the shareholders of the new company are individuals or legal entities.
If the founders are individuals, ID cards or passports are sufficient for registration.
If the company is established by legal persons, the following will be required:
an up-to-date extract from the register of legal entities from the country of incorporation;
Minutes of the shareholders' meeting stating the decision to incorporate the new company;
Document certifying the identity of the person authorized to sign at the formation of the new company;
Originals of the articles of association of the companies that are registering the new business.
When all the documents are ready, you should contact any Empresa na Hora office and book a time to meet in person.
The company name should be chosen in advance from a list of pre-approved and free names. Another option is to come up with your own name, but there is a risk that it is already occupied by another company.
The articles of association of a company are drawn up according to a template depending on the form of the legal entity. All templates are publicly available:
for a closed joint-stock company with limited liability;
for the company with the sole shareholder;
for an open joint-stock company with limited liability.
The articles of association must state the address of the head office, the amount of the share capital, and the name of the head of the company.
Registration at the Empresa na Hora requires all the founders of the new company to be present in person. If any of the founders are unable to travel to Portugal, they must make a power of attorney in advance for their representative.
The founders first obtain a Portuguese tax number. The number can be obtained in advance by yourself or at the time of business registration.
Empresa na Hora staff register the company and publish the memorandum of association on the government website. The founders receive:
A certificate of incorporation of the legal entity;
A company identification card;
Certificate of incorporation in the State Register of Legal Entities.
There is a fee for the registration procedure. If the company name is chosen from an approved list, the cost of registration will be €360. The cost of registration with approval of a new name is €435.
When the company is incorporated, it is compulsory to create a deposit in a Portuguese bank for the amount of the share capital. The company must employ a licensed accountant and file a declaration of commencement of business with the Portuguese tax authorities – within 15 days of incorporation. Within 30 days, the company must also register with the social security service and the register of beneficiaries.
From €100 + VAT
accountant services per month
The IBCM licence must be obtained separately in Madeira. The cost of applying is €1000.
The nuances of the business registration procedure can be found on the Portuguese government website.
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