This not only saves you time and money, but also a constant overview of your business. It shows you where you stand with your customers and gives you the opportunity to immediately analyze the financial performance of your business. Nationals of non-EU/EFTA countries who wish to come to Portugal to start a business or work as freelancers need a work visa and a Portuguese residence permit. For more information, check out our guide to Portuguese work visas. If you`re starting a business in Portugal and planning to hire employees, be sure to factor in the cost. Employers in Portugal must pay 14 months` salary per year, social security contributions, 14 paid holidays and five weeks of paid annual leave. If you have a company in Portugal with employees, you can employ employees who are EU/EFTA citizens or citizens from outside the EU/EFTA who have a valid visa that allows them to work. For more information, check out our guide to Portuguese work visas. The real estate market in Portugal is extremely productive and attractive for foreign investors who know what kind of profits this sector can generate. It is quite easy to start a construction company in Portugal or a real estate agency to attract both tourists and those who want to move to Portugal.
The luxury real estate sector is the most representative in Portugal and is aimed at those who want to make large investments of hundreds of thousands of euros and benefit from several advantages of the State. If you want to open your real estate business in Portugal, you can talk to our specialists. There are many reasons to do business in Portugal and this is one of them. There are a number of different legal structures for businesses in Portugal, ranging from sole proprietors to large companies with many employees. The Portuguese Companies Code regulates companies in Portugal and defines the different legal forms. In addition to investing in a business, Portugal`s Golden Visa program allows you to invest in the country`s real estate, scientific research, and culture. People who want to set up a business in Lisbon or any other Portuguese city can choose from the following options: In the section below on Portuguese business types, you will find details about the different types of establishments you can choose from. According to the World Bank`s «Doing Business 2014» report, Portugal ranks 31st.
The report ranked 189 developed countries based on the ease of starting a business, financing and doing business. Portugal has fallen seven places in one year. The report claims that it is faster and easier to start a business in Portugal compared to neighboring countries such as Spain, but getting trade credit is a difficult task. The Portuguese government has taken steps to speed up and simplify the process of opening a business, but once you take this step, you can face other hurdles such as inflexible banks and obstructive local regulations. Register your employees in the Business Formality Center (Centros de Formalidades das Empresas) within ten days of registering the company and before starting the work of their employees. This allows them to get social security. There are many reasons why choosing Portugal to start your business is a good decision, such as the fact that it`s the best place in the world to work remotely. But I`m sure you already know all this. So, I`m just going to move on to the next step: how to do it. You can try to set up a business in Portugal on your own, but their proposal may not interest the local authorities. Thus, the businessman will stand in a row with hundreds of applicants, waiting for a «window» in residence permit quotas. To set up a business in Portugal, you will need your own Portuguese residence card, a tax number (NIF) from the Portuguese tax office and a social security number.
If you are a non-EU/EFTA citizen and want to start a business, you will need a Portuguese visa and residence permit. However, foreign companies may open a branch or subsidiary of their company in Portugal. To do this, they must register the branch with the Portuguese Registrars and Notaries (IRN) and the branch or subsidiary with the Commercial Registry Office. In some parts of the country and for certain types of businesses, it may be necessary to use traditional methods. This includes applying for a certificate of eligibility and the corresponding temporary identity card; Deposit of the share capital in the bank account of the company, receipt of a public deed if necessary, declaration of commencement of activity at the local tax office, registration of the company with the Conservatóriasde Registo Comercial and registration as a taxpayer. First of all, it might be easier, especially if you`re not Portuguese, to get help from an accountant experienced in this process. No matter where you are, an accountant will save you time. Contact this annual tax return to run your business professionally. There are free economic zones in the Azores and Madeira. These are the most profitable regions for setting up a business in Portugal in terms of taxes, benefits, import and export of goods, exemption from customs duties and free movement of capital. Public financial support is available for happy companies that are innovative and provided by Portuguese agencies.
Turismo de Portugal encourages innovation and entrepreneurship by supporting tourism start-ups with venture capital, real estate investments and more. The Portuguese Agency for Investment and Foreign Trade is responsible for managing all foreign investment projects and selecting projects that best contribute to the competitiveness and sustainability of the economy, such as job creation and GDP growth. In addition, the Portuguese government`s Agency for Competitiveness and Innovation (IAPMEI) offers financial incentives and support to help you open a business in three main areas: If you are starting your business in Portugal, it is advisable to speak to a lawyer or law firm that is familiar with business law.