EORI Registration in Portugal - Updated Guide 2021
EORI Registration in PortugalUpdated on Tuesday 11th May 2021
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The EORI number is used by Portuguese companies engaged in import and export activities. The Economic Operator Registration and Identification (EORI) is used throughout the European Union and companies incorporated in all of the member countries that engage in trade and customs operations use it. The EORI system was established in order to serve as a tool for the implementation of the regulations set forth by the European Council and the European Parliament. The aim is to use a common number, unique to each economic operator, that can be used throughout the European Community. Our Portuguese lawyers are at the disposal of foreigners willing to open a company in 2021 in the trading sector for which an EORI number is necessary. They can provide complete legal support.
Assigning the EORI number in Portugal
The EORI number is assigned by the member state in which the company is incorporated. Portuguese companies are assigned their EORI numbers when they are registered. This number is identical to the number the company is automatically assigned when it is registered with the tax authorities in Portugal. This is the fiscal identification number (NIF) and it is issued once the company is registered with the National Company Registry office. This number is used in all trading transactions and customs-related activities in which the company engages. The EORI number is used in nearly all customs import and export declarations as well as in the transit declarations. All customs authorities throughout the EU have easy access to the list of EORI registered companies, for easier identification of economic operators doing business throughout the Union.
Our team of lawyers in Portugal can help you register your company with the National Company Register office once you have decided to incorporate a company in the country.
EORI regulations in Portugal in 2021
Portuguese companies are advised to update their information whenever necessary as these changes will also be reflected in the economic operator's system. Changes to the EORI data can be made via the electronics declarations menu. If the company is liquidated or ceases to conduct economic activities, regardless of the reason for the cessation, the EORI number will automatically be canceled.
Documents for EORI registration in Portugal
A series of important documents needs to be prepared at the time the company applies for an EORI number in Portugal in 2021. Here are the most significant ones for which legal guidance and support can be provided by our attorneys in Portugal:
- the VAT certificate of the company proving it is registered for taxes;
- a document issued by the Trade Register in Portugal proving the registration of the company;
- the certificate of registration of the business in Portugal;
- a power of attorney used by the company’s representative at the time of EORI application in Portugal;
- a valid passport for natural persons with trading activities in Portugal plus documents showing he/she pays the taxes in the home country.
It is important to bear in mind the legal aspects of an EORI application plus the regulations of the entitled authorities in charge of such procedures. Our attorneys in Portugal can give more details in this matter. Here is an infographic that explains the EORI registration in Portugal:
What is the most important document for EORI registration in Portugal?
The VAT certificate represents the most significant document which needs to be presented at the time a company wants to apply for an EORI number. The same thing is available for natural persons looking to apply for an EORI number in Portugal.
Is the EORI number the same with the VAT in Portugal?
No, the EORI number is not the same as the VAT number of a company in Portugal. However, the EORI number can contain the VAT, a regulation which is adopted by most of the European countries. In the case of Portugal, the NIF number will be part of the EORI number.
Do I need more EORI numbers?
No, there is no need for more than just one EORI number for your company with import and export activities in Portugal. If for any reason the company cannot provide the shipping documents of the products or if such documents are not correct, the authorities have the power of withdrawing the EORI number. Another application is then necessary in order to obtain a new EORI number. Feel free to talk to our advisors for more details in this matter.
Foreign economic operators in Portugal
If you would like to develop the import and export business as a foreign company in Portugal, the EORI number is necessary and it is subject to several requirements. Among these, the country code will be added to the EORI number for an easy identification at the customs.
How long does it take to have an EORI number in Portugal?
The EORI number is normally issued within 24 hours depending on the documents provided, if they are correct and respect the EU directives. It is good to know that the EORI registration is exported in 24 hours and registered in the Portuguese central system, in respect to the applicable legislation in this country. Feel free to talk to a lawyer in Portugal for all the legal matters in this sense.
Customs regulations in Portugal
From the beginning, it is good to know that the Union Customs Code or the UCC is a set of regulations applicable within EU countries with economic operators which must respect the customs rules. Each economic operator with import and export activities must provide complete information about the goods that are about to enter or exit a country. This is made with the help of a specific form where the EORI number is mentioned. The customs valuation is the next important step that involves the value of the products declared at the customs, plus information about the taxes and duties which need to be paid. Please bear in mind that there are specific regulations for the import or export of arms and munitions, plants, pets, medicine, jewels, tobacco, and alcohol. Documents like phytosanitary certificate, or the ones issued by the veterinarian institutions in Portugal should be observed before dealing with such imports and/or exports. It is good to know that the customs in Portugal can release a temporary admission for specific perishable goods meant for import purposes for which a guarantee is solicited by the authorities at the time the products enter the country. Particular rules are imposed for goods which need to be released for free circulation within the EU countries, which might be subject to certain import or export duties. We remind that Portugal imposes and respects the EU directives in matters of customs, so feel free to ask for legal guidance in this matter from our team of attorneys in Portugal.
FAQ about EORI in Portugal
1. Why do I need an EORI number in Portugal?
The EORI number or the Economic Operator Registration and Identification is needed for companies having import and export operations throughout the European Union for a better control of the trading activities. One of our lawyers in Portugal can help you obtain the EORI number.
2. When can I apply for an EORI number?
The EORI application is normally made when the company is registered for tax purposes. The VAT number is used for assigning the EORI code for trading companies in Portugal.
3. Do I need the Fiscal Identification Number for EORI?
Yes, NIF is assigned to companies registered for tax purposes in Portugal and then used for EORI registration of such companies. The registration for tax purposes in Portugal is not complicated, however, the legal assistance of our Portuguese lawyers will prove essential for such tasks, particularly for foreign entrepreneurs.
4. Is the EORI number the same with the VAT number?
No, the EORI number is different from the VAT identification code. However, an EORI number for a trading company in Portugal must comprise the VAT number, alongside the country’s prefix and other digits. We remind that the EORI applications in Portugal can be properly handled by one of our advisors.
5. Where do I apply for EORI?
The official website of the European Commission is the platform where EORI applications can be made. Even if the formalities are not that complex, you might want to ask for the legal advice and support of our attorneys in Portugal.
6. What kind of documents do I need for an EORI application?
The company’s documents, such as the Certificate of Incorporation and the VAT Certificate are among the necessary documents for EORI applications in Portugal. Specific forms might be needed for submission, but all the details can be provided by one of our specialists.
7. How long does it take to obtain the EORI number?
An EORI number can be issued in about one day if all the documents are accepted by the authorities. In case you missed a few formalities, the EORI application can be re-initiated, with comprehensive support of our attorneys in Portugal.
8. When is an EORI number canceled?
An EORI number can be canceled in the case your company no longer has activities on the market. More than that, if your company is declared bankrupt or if you suspended or closed the firm in Portugal, the EORI number will no longer be valid.
9. How do I regain my EORI number?
The same EORI number can be re-assigned for your company in Portugal if you get back on business. Being a unique code, the EORI number will remain the same. You can talk to our team of lawyers in Portugal and find out more about the EORI applications.
10. Do I need more than just an EORI number?
No, there is no need for more than just an EORI number. This is a unique code that is issued only one time for your trading company in Portugal. Support and legal assistance for EORI applications can be offered by one of our advisors.
Making investments in Portugal
Among the solid points of Portugal, we mention the economic stability, the experienced workforce, the great infrastructure, and the multitude of business opportunities in sectors like tourism, agriculture, and IT, to name a few. The simplified registration process of a company in Portugal and the legislation related to foreign investments that provide equal rights to both domestic and foreign entrepreneurs are important business advantages to international investors in Portugal. The tax regime is another benefit for international entrepreneurs who want to make investments in Portugal. The corporate tax rate is set at 21%, while the standard VAT rate is set at 23%. A series of tax exemptions are offered to foreign investors in Portugal if they want to reinvest a part of the profits in the company they own. The following facts and number highlight the direction of business and economy in Portugal:
- Around USD 869 billion was the total FDI stock for Portugal in 2019;
- The 2020 Doing Business report issued by the World Bank ranks Portugal 39th out of 190 economies in the world;
- Around 24% of the total FDIs in Portugal in 2018 came from the Netherlands, an important business partner;
- Approximately 27% of the total FDI stock registered in 2018 in Portugal were directed to the insurance services sector.
The EORI applications in Portugal in 2021 are not subject to complex bureaucracies, and the support of our Portuguese law firm will prove extremely helpful for foreign investors interested in starting a business in this country.
For more information about company requirements in Portugal and the ways in which you can obtain the EORI number please contact our law firm in Portugal.