Business Start-Up Costs in Portugal
Business Start-Up Costs in PortugalUpdated on Thursday 23rd January 2020
Rate this article
based on 3 reviews.
based on 3 reviews.
Investors wishing to open a company in Portugal have to consider the start-up costs needed to start a new business in the country. In the rough, the business start-up costs in Portugal refer to company registration, the minimum share capital and those needed to rent or buy a company office. The following costs are of an informative nature and investors should be aware that the start-up costs in Portugal may differ depending on the chosen type of company, the business field in which it operates and the business specifics, such as the costs associated with equipment and technology.
The experts at our law firm in Portugal can help you throughout the company formation process and can guide you through the most important steps.
The first costs for opening a company in Portugal
One-stop-shop business registration is possible in Portugal. For this purpose, investors can look for one of the existing on the spot firm opening centers opened throughout the country by the Portuguese RNPC (National Registry of Collective Persons). If they choose to open a company in this manner, investors will need to use one of the pre-approved and standard forms for the company’s Memorandum and articles of Association. The costs for registration will vary depending on the chosen method of registration: either online or through one of the on the spot firm registration centers. In general, if investors use the pre-approved Articles of Association, the costs will be reduced. Registration with the Tax Authority is not taxed and business owners will incur no costs for opening a simple bank account. Certain fees may, however, apply if they require additional banking services.
The paid-in minimum capital is a special category of business start-up costs and must be deposited during the early stages of company formation after the bank account is set-up. These costs will depend on the type of company but for a standardized company the minimum capital requirement will generally be 5 euros. You can talk to one of our lawyers in Portugal for more information about the business registration and paid-in minimum capital requirements depending on the chosen type of legal structure.
VAT and EORI in Portugal
The registration for VAT is mandatory for companies with establishments in Portugal. This step is needed when the business is incorporated with the entitled authorities, and legal advice can be offered by one of our lawyers in Portugal. also, the EORI number is needed for companies engaged in trading activities within the country or crossborders.
Additional business costs in Portugal
Different types of businesses in Portugal will require different additional costs. Special permits and licenses may be required, although registration fees may not be needed in all cases. The costs associated with renting or buying an office space are mandatory for resident companies in Portugal. They will depend on the city and the area in which the premises are located.
For more information on how to open a company and doing business in the country please contact our law firm in Portugal.