Small business setup in Portugal
Portugal offers a favorable environment for small businesses due to its stable economy, potential in tourism and renewable energy, and strategic position for companies interested in the European market. We specialize in assisting start-ups and growing small businesses. Our in-depth knowledge of the local market and expertise in establishing companies allows us to help you with the necessary paperwork and procedures for launching your small business in Portugal. Let’s explore the benefits of starting a small company in Portugal and how our specialized services can help facilitate your success.
Formalities and procedure
Registering a small enterprise in Portugal requires going through a series of steps that can typically be finished within a few weeks.
Choose a business name
The name of the business must be original and not already taken. You can verify the availability of a name on the Portugal Trade Registry’s website.
Select legal entity type
Choosing the right legal structure is crucial for the prosperity of your small business. We offer expert advice on Private Limited Liability Company (Lda), Public Limited Liability Company (SA), Branch Office, Holding Company to assist you in making a well-informed decision that suits your particular needs and future goals.
Set up legal address
It is crucial to have a legal address when initiating a business, as it acts as the primary location for government agencies, legal authorities, and important business communication. Selecting a legal address that complies with local regulations and fits the needs of your business is of utmost importance.
Get the necessary paperwork ready
The team of professionals we have will assist you in developing detailed and tailored documentation to suit your company’s structure and objectives. We assure compliance with all legal requirements and will handle the filing process on your behalf.
Open a bank account
Setting up a corporate bank account is necessary for businesses in Portugal. We can guide you through the process, making sure you adhere to the rules and aiding in opening an account with a respected financial institution in Portugal for your small business activities.
Company registration
We take care of registering your small business with authorities such as the Trade and Companies Register and tax authorities, allowing you to avoid the administrative hassle. This ensures that your small business is legally recognized and compliant from the beginning.
Setup accounting
In order to effectively start a small business, it is crucial to properly track financial transactions. Our group of accounting professionals is available to assist in implementing reliable accounting and bookkeeping methods that adhere to Portugal’s laws.
Small business examples
Small businesses operate in various industries and sectors, each with unique requirements. Here are examples of small businesses:
- Business support: Smaller consultancies, individual service providers
- DIY retail: Locally-owned hardware shops, small home improvement stores
- Education: Tutoring services, small language schools, independent trainers
- Farming: Smaller, family-run farms
- Fitness: Individual trainers, small local gyms or studios
- Food and beverage retail: Independent grocery stores, coffee shops, bakeries
- Hotels and motels: Smaller, independent hotels or motels
- Laboratory: Smaller independent testing labs
- Marketing: Freelance marketers, small local agencies
- Media: Independent content creators, niche publications, small production companies
- Printing: Small local print shops
- Real-estate: Individual realtors, very small brokerage firms
- Restaurant: Independent, non-chain restaurants
Benefits of establishing a small business in Portugal
Portugal is an attractive location for starting small businesses, providing a wide range of benefits:
Strategic location
Portugal’s strong economy, potential for growth in tourism and renewable energy sectors, and advantageous position make it an appealing option for companies interested in the European market. Along with its diverse cultural background, beautiful beaches, and government support for international investments, Portugal offers many benefits for businesses aiming to enter the region.
Favorable tax regime
Portugal has a corporate income tax rate of 21%, which remains constant regardless of a company’s size. In addition, the country provides incentives for investments in research and development, as well as in specific regions. Due to its varied economy and advantageous geographical position, Portugal is considered a desirable location for businesses.
Banking
Portugal’s stable economic environment makes its banking system attractive to investors looking for wealth management and secure banking services.
Our small business setup solutions
We understand how valuable your time and resources are, which is why we offer two convenient options to make the company formation process easier for you.
Business formation online
With the online platform offered by Portugal, individuals can start and finish the process of creating a business from any location. The capability to track progress, turn in necessary paperwork, and access our services through secure digital channels guarantees a seamless and effortless experience.
Business formation remotely
If you would like to take a more hands-off approach, we are able to manage all of the paperwork for you. Our team of experts will handle all of the necessary formalities, fill out all required paperwork, and communicate with the appropriate authorities on your behalf to ensure your peace of mind.
Contact us today and launch your small business success
Contact us today to schedule a consultation and begin pursuing your business goals. Let’s embark on this journey together.