How to start a business in Portugal?

Recently Portugal has become a very attractive location for business development, kind of a gate for the whole European market. Here is a step-by-step timeline of the company registration process.

1. Gathering the documents.
To start a registration process for a company in Portugal you need to have following documents:

  • NIF number for the shareholder and for the director
  • Legal business address contract

Our service offers the obtaining of these papers remotely and urgently. 

Having these documents you can already choose the name for your future company and apply for registration. 

Important about the bank account! You have to make a decision about registering the business account already on this stage. Account will be required for the company activation and you will have a tight timeframe to open it. Business bank account can be obtained only if you already have a personal bank account, it requires time to make everything from scratch, so it should be done in advance. At the same time you have to subscribe for the accounting, because only a legal accountant will be able to start the activity of your company.

2. Register a company name. 

  • The easiest and the free option is to choose a name from the list of pre-approved names.
  • Another option (also free) is to set a name as a client’s name, for example, YourName LDA.
  • If you want to choose a name that is not on the list, it will cost 300 EUR. You have to prepare a list of at least 10 options of names due to a low chance of approval. If you have a trademark or a right to the desired name in another country, or even an existing company with the same name in another country, you need to prepare all proving documents, after that the request can be sent to justice for approval. The consideration usually takes up to 2 weeks.

3. Register a business address.

To open a business in Portugal, it’s required to register a legal address in this country. You can find a way to do it by yourself, or use our service that includes preparation of all legal documentation, mail processing and physical mail forwarding.

4. Signing a company statute.

After this step the company statute will be sent to you by email. You will have 24 hours to print it, sign it and send us back the scan of the document.

When the authorities finish the registration process, you will receive RCBE and certificate.

5. Open a business bank account.

In order to register a company it’s required to have a business account in one of the Portuguese banks. You need to open it to operate your business and pay taxes. To open a business account, first you should have a personal one, we can make a personal bank account absolutely remotely and it takes 3-4 weeks. It should be already done to the moment when you receive your certificate of company registration.

If all steps are done on time, you have everything already prepared. Using the certificate of a company registration, apply for opening a business bank account. Usually it takes around 3 working days.

6. Activation.

Now the company can be activated. It should be done during 15 days by a professional accountant, providing company registration papers plus the IBAN of a Portuguese business bank account.

Now you are set and your business can start it’s succesful development.

If you want to save your time and money and be sure that everything will be done properly and on time – you can use our service of Company Setup in Portugal.