Portugal is one of the most promising countries for foreigners wishing to establish and conduct their business here. According to the business magazine, doing business in Portugal took 29th place in the ranking of the best countries for business. If the question of business relations in Portugal is interested in you, find out all the necessary details on this subject in our article.
The main features and advantages of opening a business in Portugal
Like any other country, Portugal has its own individual characteristics, both in terms of business registration and its conduct.
- You can register a company in Portugal in just 1 day.
- In each city of the country, there are offices that are engaged in the documentation for new companies.
- In Portugal, you can do it even through the Internet.
- Many types of business activity require special certificates or licenses. Their receipt is additional financial and time costs.
- In some cases, the entrepreneur must know the local language.
The creation of a new company, the opening of a business requires the mandatory treatment of a foreigner to lawyers, accountants, and other professionals. And this is the right approach to business.
Material investments that will be needed both for the creation of the authorized capital of the company and for the development of the company.
How does the process of opening a business in Portugal?
In order to open a business in Portugal, a foreign entrepreneur must overcome the following steps:
- Register your company name and get a temporary ID card.
- It is necessary to register the act of incorporation of your company in the notary office.
- Contact the tax service and write an application for acceptance of your company for registration (you need to do in 3 months after receiving the identification card).
- Registration in the commercial register of Portugal.
- Registration with insurance and social security authorities.
At the place of registration of the company and your actual stay, you must contact the Ministry of the economy of Portugal and register. And this will be the final stage of creating your business.
Having employed more than 10 indigenous people of the country, you get the opportunity to obtain a residence permit in a simplified manner, and in the future and citizenship of Portugal. But this is only one of the many advantages that foreign businessmen have here.