If you have a pressing need to open an individual or a corporate bank account abroad as soon as possible, please place a request for a personal consultation to: info@offshore-pro.info.

Register a Company in Portugal Remotely – from 3200 EUR

How to open a Portuguese company to run your business in Portugal and across Europe? The procedure is quite sophisticated. However, you can get it all arranged for you remotely and effortlessly if you request our experts’ professional assistance for a reasonable fee starting from 3200 EUR. You don’t even have to travel to Portugal.

Company types in Portugal

You can register various types of companies in Portugal:

  • Sociedade por quotas – LDA or a Joint Stock Company. Requirements: from 1 owner of the company (as a rule, these companies are incorporated by two or more shareholders) and the authorized capital from 1.00 EUR. This is the most common type, suitable for small and medium businesses. 
  • Sociedade anónima – SA or a public company. It is suitable for those who have a larger authorized capital of 50 000 EUR and more. Requirements: at least 5 shareholders (each partner has limited liability), the board of directors is appointed.
  • Sociedade em comandita – SC or a Limited Partnership. Requirements: at least 2 partners, each with their corresponding areas of responsibility: the General partner with unlimited liability and the Sponsor partner with limited liability. 
  • Sociedade em nome colectivo – SNC – a General Partnership. Requirements: at least 2 partners, all with unlimited liability and equal mandates for participation in making decisions. No mandatory minimum amount of initial capital is required.
  • Sole Proprietorship (EIRL) – the company with a single shareholder, who has unlimited responsibility for all losses and debts.  The individual owner is not required to have a minimum of capital to start a business.

As mentioned above, the most popular form is LDA. Let us consider it in detail, as the general principles apply to other companies as well.

Here are the reasons why it is profitable to register a company in Portugal

Portugal is recognized as the jurisdiction supporting business development, and the popularity of this jurisdiction for starting a company is growing. Here are some of the reasons why it is such an attractive environment for entrepreneurship and incorporation:

  • Good standing and high reputation of Portugal as a European jurisdiction
  • The lowest in the EU prices for company incorporation and operating costs 
  • Its tax system is quite favorable for business and employment
  • Foreign investors feel most welcome in Portugal
  • Portugal has developed the business-friendly environment with the fintech community recognized as quite advanced
  • Company registration is fast (up to 10 working days)
  • The banking community considers any company incorporated in Portugal is clean and trustworthy
  • There are quite affordable prices for office rent and substance, including the fees of the banks and rates for opening merchant accounts
  • The population is generally well-educated, and to recruit competent staff is an easy task. 
  • The cost of living in Portugal is considered the lowest in Western Europe

There are many other obvious benefits, including the climate, picturesque landscapes, popular tourist attractions, advanced road infrastructure, international hubs, easy access from all parts of the world, etc.

Company registration in Portugal

The standard procedure for registering a business in Portugal involves many steps. Nevertheless, there is also a simplified procedure – a fast track for company incorporation. 

Let us consider the general principle, the most relevant issues, and the inevitable steps in company registration that are the same for both the standard and the simplified procedures.

The main document needed to register a company in Portugal

The Articles of Association is the main document which you will need when registering a company. You should prepare it in advance – before you start your application for the registration. We will help you at this stage.

In this document, you will need to specify the following aspect:

  • the company name in Portuguese
  • names, nationalities, countries of residence of the owners
  • the area and scope of your new business
  • the rights and responsibilities of the directors who will manage the company
  • the ownership and transfer of shares and other principles of partnership
  • the voting rights in the company, liabilities, and other fundamental details.

You will need a share capital of 5,000 EUR and at least two partners. It is recommended to arrange a personal visit of at least one partner to the registration authority. However, you can draw up a power of attorney and comply with the procedure remotely.

How to register a company in Portugal: a formal procedure for LDA

The company registration procedure consists of 7 main steps.

  1. Check the company name and reserve it in the Portuguese Registry of Business Names

You can choose your own name. It will take about 15 days to get it reserved, and you will have to pay a state duty. If the name is approved, you have up to 3 months to continue the procedure. 

You can also select one of the pre-reserved names offered for the Registry of Business Names. Then you can immediately proceed to the next step of the procedure. Besides, this option is cheaper.

  1. Appoint an official representative of your company.
  1. Draft your Articles of Association.
  1. Open a bank account and deposit the authorized capital of the company (from 5,000 EUR).

In some cases, it is allowed to contribute to the fund in kind rather than in cash. The non-monetary contribution must be assessed by an independent auditor. In this case, it is possible to apply for registration only with the auditor’s resolution attached.

  1. Submit documents for incorporation of the company: the Articles of Association, certified signatures of company partners. It is recommended that all participants should be personally present in the country.

To set up a company, non-residents of Portugal (individuals and legal entities) must obtain a tax number (Tax ID). EU citizens will receive it directly from the tax office, and third-country nationals must separately negotiate with the tax authorities.

Also, to obtain a tax number, non-residents will need a Portuguese tax representative – a person who already has a Tax ID and will represent you at the Registry. This is a mandatory service and it is not possible to obtain a Tax ID without a tax representative. However, if you need to, you can resolve this issue in the following ways:

  • receive the services of a tax representative from us (this service is included in the package service fee);
  • receive services from another company;
  • become a tax resident of Portugal independently (we can help you get the status in Portugal);
  • give up and waste the chance to/never get the required Tax ID – in case Portugal is no longer of interest to your business.
  1. The following step is registration in the Business Register. Any company member, director, or official representative can submit documents – the main thing is that he or she has a Tax ID. The following documents need to be submitted:
  1. the certificate confirming the company’s name
  2. corporate documents, including Articles of Association
  3. additional documents, if necessary. For example, the auditor’s report on the in-kind contribution transferred to the authorized capital.
  1. Then you will need to register your business as a taxpayer (all companies have a tax number) and as a social security payer.

The registration of a company in Portugal takes up to 10 working days.

Documents for starting the  company registration in Portugal

In general, you will need the following documents to get started:

– internationally valid passport (certified copy)

– proof of residence address (utility bill)

– draft of the Articles of Association (if necessary, we will help with its preparation).

You will get other documents prepared during the registration procedure if you use our services.

Costs of company registration in Portugal

The company registration service in Portugal is offered by our experts at the package services price starting at 3200 EUR – if you select the name of the company from the pre-reserved list of names available at the Registry. 

If you want to choose your own name, the starting price is increased to 4400 EUR. 

The package service price includes the following services and documents:

The company registration fees:

  •  With a name already pre-reserved in the Registry of Business Names – 1200 EUR
  •  With a legal name chosen by you – 2400 EUR

Other services included:

  • State duties
  • A set of corporate documents
  • Certificate of Incorporation
  • Standard Articles of Association
  • Description of business activities (Scope of Activities)
  • If necessary, our translation of documents from Portuguese into English 
  • Registration with the Portuguese tax authorities and registration of the Tax ID for the company
  • Registration with the social security authorities and registration of the social security number
  • Code for the 3-month access to the Good Standing Certificate of Commercial Registration – online access to company records and the most current information about the company
  • Electronic card for access to the Permanent Certificate of Commercial Activities
  • Physical card of the company (ID card) issued by the Registry (containing general information about the company)
  • A personal Tax ID for the company’s owner (this is mandatory). Services of a Portuguese tax representative for this specific task at 500 EUR.
  • Legal address for 3 months, plus services for 3 months
  • Storage of original documents, archive, scanning of incoming mail
  • Coordination with the accountant (up to 5 emails/calls per month)
  • Coordination of work with tax authorities, state institutions and banks (up to 5 tasks per month)

Additional arrangements that we can offer (these are not included in the above-mentioned package services):

  • A tax representative’s services in Portugal – at 600 EUR for 3 months
  • Accountant services for 3 months – at 900 EUR
  • Free account in the payment system outside of Portugal in one of the systems arranged by us.
  • If you decide to open an account outside Portugal, you will need a set of apostilled corporate documents at 400 EUR.

Please note: 

You will need to open a corporate account within 5 days and deposit the authorized capital. The account may be in Portugal or abroad, but must be in an EU country. It may be a bank or a payment system. More information is available at info@offshore-pro.info.

It is also important to consider that accounting is mandatory for a company in Portugal. A legal local address is also a must. 

If you wish, you can use third-party services. But we can provide you with a legal address and accounting services at quite reasonable rates: accountant services will cost 300 EUR per month or 3600 EUR per year. As for the legal address, please see the Family Office Package options.

It is always a good idea to use the Family Office Package when managing a company.

Family office Package is a comprehensive company service solution that includes the company’s address, interaction with government agencies and an accountant, etc. 

3 levels of this service are available:

  • Family office Package (Basic) at 300 EUR per month, including:
    • legal address
    • storage of original documents, archive, scanning of incoming mail and coordination with an accountant (up to 5 emails/calls per month)
    • coordination of work with tax authorities, state institutions, and banks.
  • Family office Package (Medium) at 600 EUR per month, including:
    • all Basic package services
    • 2 hours of consultation or legal work
    • 2 hours of various tasks for you
  • Family office Package (VIP) at 1200 EUR per month, including:
    • all Medium package services
    • plus  1 extra hour of consultation
    • airport-city-airport transfer
    • local transfers within the city for 2 days
    • 3 hours of simple routine tasks
    • unlimited assistance in communication with an accountant and the state authorities.

The cost of the company extension in Portugal

Mandatory costs:

  • rental of legal address – 3000 EUR per year
  • accountant services – 3600 EUR per year

Optional expenses:

The access code to the Permanent Business Registry Certificate is at 150 EUR.

Total cost per year for company extension – 6750 EUR. You can pay for the entire year or in installments of 550 EUR per month.

Optional services

ServicesPrice in EUR
Services of a professional Portuguese directorINDIVIDUAL PRICE
Power of Attorney400
Certified power of attorney with apostille and translation700
Legal opinion3000
Legal advice per hour700
Company name change1500
Address for mail services and connection to necessary public  utilities per year2500
Translation per page40
One set of documents apostilled400
Opening of a corporate account in Portugal4000

Steps needed to register a company in Portugal

  1. Contact info@offshore-pro.info  and inform about the need to open a company in Portugal.
  2. Provide preliminary information to ensure that we can provide the service you need.
  3. Pay for the package service (from 3200 EUR) and provide a full set of documents.
  4. We will do the preparatory work and register the company.
  5. After registration, you can start your business activities and open an account.

If you still have questions, please contact us info@offshore-pro.info 

Please read other interesting articles at InternationalWealth.info portal:

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