Starting a company in Portugal and create 10 jobs for the next five years is an option the get the golden visa in Portugal. After the economic effects of the corona crisis this option is even more supported by the government.
This option is recommended if you already have a concrete business in mind or have experience in your home country and would like to expand / move to Portugal with the business. We from Pearls of Portugal help our clients to start the company and also guide you through the golden visa application process.
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There are 3 types of singular companies with one owner:
1. Individual Entrepreneur (Empresário em Nome Individual)
2. Single Ownership Society (Sociedade Unipessoal por Quotas)
3. Individual Limited Liability Establishment (Estabelecimento Individual de Responsabilidade Limitada)
There are 5 types of companies with more than one owner:
Private Limited Companies (Sociedade por Quotas)
Anonymous Society (Sociedade Anónima)
Collective Partnership (Sociedade em nome Coletivo)
Limited partnership (Sociedade em Comandita)
Once the format to open the company in Portugal is established, it will be mandatory to define which group will belong. A company may have several formats or provide various services, so it is important to identify the type of activity to be developed.
CAE is a code used to differentiate activities in sectors and the company may purchase several codes. The list of codes and corresponding activities are available on the official Finances website or you can ask an accountant for support.
Registering a trademark is the only way to legally protect your founded company from possible copiers and competitors, in addition to gaining space in the market. For this, it is necessary to look for the National Institute of Industrial Property (INPI) and make the request, which will be examined in accordance with the Industrial Property Law and other administrative resolutions of the agency.
Trademarks made up of words, letters, numbers, images or drawings, the shape or packaging of the product, sounds and colors may be registered, provided that they are appropriate to distinguish the products or services of a company from those of other companies.
There are two ways to open a company in Portugal: in person at public services called “Espaços Empresa” or at any Commercial Registry Office. You can also set up the company online, in “Empresas na Hora” on the website: https://eportugal.gov.pt. In the case of Cooperatives, they can also be set up online under “Cooperativa na Hora”.
When you register the company it is also possible to see if the name that you want for your company already exists or not. You’ll still have a list of names that you could choose from and in the future change it.
Not all types of companies can be set up online, having to be done in the traditional way:
After the acquisition of all documents and the establishment of the company, it is also important to open a bank account where you can make transactions, payroll and, if necessary, apply for bank credit. Banks have different ways of proceeding in terms of fees and benefits. Some of the banks that you could work in Portugal are:
It depends on the company format you want to set up. Some of the general documents necessary to form the company are:
The support of a successful company depends on the type of accounting you want. You can have two types of accounting: Organized and Simplified.
Taxes are also part of a company's costs, such as:
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