Company formation in Portugal
Portugal is a country in Western Europe, which borders with Spain and the Atlantic Ocean. Geographical location of this state lying between Europe and North and South America and Africa, makes it a connecting link of the transatlantic trade. With the help of a Portuguese company, you can enter the markets of North and South America in the fast and successful way.
Opening a business in Portugal can be attractive because there are most loyal conditions for its doing, taxes are reduced, and opening a company in Portugal makes it possible to get a residence permit as soon as possible. Foreigners have the right to set up business in numerous forms stipulated by local law.
The most popular legal form of doing business in this state is a limited liability company (LLC).
LLC in Portugal
At least 2 board members are required to form this type of company.
The minimum amount of the authorized capital is not clearly established, but it is preferably to be 1000-1500 euros.
Documents required for company formation;
- scanned copies of passports of founders, their place of residence, other contact details (if the founder is a legal entity, entitling documents of the company shall be submitted);
- company name;
- types of activities of the company;
- information regarding the number of shares, their value and distribution among shareholders.
These documents should be translated, notarized and apostilled.
It takes 2 - 4 working days to register a company in Portugal.
For comparison, company formation in Poland takes up to 10 working days,
What is included in the service of company formation in Portugal;
Preparation of a full package of documents for registration, payment of the required state fees
Translation of powers of attorney
Assistance with opening a bank account.
The service of a legal address is optional and charged separately.
The cost of company registration in Portugal is; On request
Taxation in Portugal
The total VAT rate is 23%, the reduced VAT rates of 13% and 6% are applied to certain types of goods and services; education, health improvement, insurance and financial services are exempt from VAT.
The dividend tax is 25%, the interest tax is 20%, the royalty tax is 15%, contributions to the social insurance fund paid by the employer is 23.75% and 11% paid by the employee, the property tax is 0,3-0,8% of the assessed value.
The company ORUGA\GROUP offers comprehensive legal services for your European company formation