Trading in Portugal
Trading in PortugalUpdated on Thursday 26th October 2017
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Portugal has a long history in trade, due to its location in Europe and its development during the maritime exploration period and during the age of discovery. Today, Portugal has strong trade ties with the EU countries but also with China and the United States.
Portugal has signed many trade agreements and bilateral investment agreements that influence trade and export/import activities in general. One of our lawyers in Portugal can provide you with complete information on these treaties and their implications for your trade business in the country.
Portugal’s trade agreements
Portugal is a member state of the European Union and the World Trade Organization. Its internal laws and regulations regarding trading are aligned with the international standards and principles, namely in terms of goods tariffs, types of imported/exported goods and other trade policy issues.
Portugal has also signed a large number of double tax treaties, meant to allow for a single point of taxation for several types of income, in case of companies that derive income both from Portugal and from another jurisdiction. One of our attorneys in Portugal can detail the provisions of these treaties.
Portugal’s main trading partners
Spain, France, Germany, the United Kingdom and the United States are among the top ten export partners of Portugal. Other countries also include China, Angola, and other EU countries. In terms of imports, Portugal’s top partners are also countries from the EU, like Italy, France, the Netherlands, Germany and also Spain.
Exported goods include electrical and industrial machinery, motor vehicle parts, oil and mineral fuels, footwear and clothing and other goods. The country imports machinery, pharmaceuticals, foodstuffs and some types of chemicals.
Trade companies in Portugal need to observe the current laws and regulations for importing and exporting certain types of goods and for preparing the import/export documents. One of our lawyers in Portugal can help you with information on the trade laws in Portugal and dispute resolution in commercial and trade cases.
Contact our law firm in Portugal for complete legal assistance for companies.