Overview:

Portugal presents some attractive benefits including great logistics, solid infrastructures, and a friendly economic environment. That is why, it is becoming one of the best destinations for investments and business incorporation. Its economy is consistently growing, and its annual growth rate is moving upward of approximately 0.8 percent.

Process:

You can consider two procedures when it comes to incorporating your company in Portugal: the online incorporation procedure (Empresa online) and the “On the spot company” procedure (Empresa na Hora).

• Online Incorporation procedure – Empresa online:

Empresa online is a less costly method that allows the incorporation of a company exclusively through the indication of data and the online submission of necessary documents.

The procedure of company incorporation:

1. Choice of corporate name:

You will need to choose a name for the company from a list of pre-approved corporate names (you can find these online or refer to the list provided for in the assistance desk).

Note: You can still choose a name that is not included in the pre-approved names’ list if you have already obtained a corporate name with RNPC

2. Choice of By-laws:

You must choose from the different pre-approved by-laws models that are available online or at the assistance desk.

3. Online form filling:

The required elements for the submission of the start of the activity declaration can be filled electronically.

4. Submission Procedure:

Once you have started the proceeding, your online request should be submitted within a maximum of 24 hours.

5. Company’s registration:

Usually, the company’s registration is performed immediately or within 2 business days.

6. Certified digital signature:

You will need a certified digital signature that can be obtained by any person in possession of a citizen card.

7. Deposit of the company’s share capital:

You have 5 days as from the proof of registry of the company’s incorporation is made available, to deposit the cash contributions.

Note: for private companies, the share capital may be deposited until the end of the company’s first financial year.

8. Chartered accountant (TOC):

Once the incorporation is done, you can appoint a TOC.

Note: If a TOC is not appointed or chosen from the Accountants Chamber, the company’s registration with the Tax Authority and submission of the start of activity declaration has to be provided within 15 days.

• On spot company procedure – Empresa na Hora

The “Empresa na Hora” which means “on the spot procedure”, gives the opportunity of immediate company incorporation, in the Companies Formalities Centre (“Centros de Formalidades de Empresas”) and in the Commercial Registry Office, with a single assistance desk.

The procedure of company incorporation:

1. Preparation of the incorporation act:

If shareholders are natural persons: Taxpayer card, Identification document (citizen’s card, ID card, passport or residence permit) as well as Social Security Card (optional).
If shareholders are legal persons: Company card, legal person ID card or access code for these cards.

2. Choice of corporate name:
You will need to choose a name for the company from a list of pre-approved corporate names (you can find these online or refer to the list provided for in the assistance desk).

3. Choice of By-laws:
You must choose from the different pre-approved by-laws models that are available online or at the assistance desk.

4. Incorporation Act:
The articles of association are drafted in the assistance desk and subsequently subject to a commercial registry.
You will immediately receive the articles of association, the Access code to the commercial registry certificate (valid for a period of 3 months), the Access code to the company’s electronic card, as well as the Social Security company number. Later on, you will receive a Physical company card.

5. Deposit of the company’s share capital:
You have 5 days as from the proof of registry of the company’s incorporation is made available, to deposit the cash contributions.

6. Chartered accountant (TOC):

Once the incorporation is done, you can appoint a TOC.

Note: If a TOC is not appointed or chosen from the Accountants Chamber, the company’s registration with the Tax Authority and submission of the start of activity declaration has to be provided within 15 days.

Fees:

• Online Incorporation procedure cost:

The overall cost is €180 and for companies whose corporate purpose is development or research, is €120.

In case the corporate name of a company is not chosen, the cost for the incorporation will increase to €380, and €320 (for companies whose corporate object is development or research).

You can find more information here.

• On spot company procedure cost:

The overall cost is €360 or, and for companies whose corporate purpose is development or research, is €300.

In case the corporate name of a company is not chosen, €75 are added resulting from the request of the certificate of admissibility of the company.

You can find more information here.

References
1.ACM, accessed October 2020, https://www.acm.gov.pt/inicio