Setting up a company in Portugal can sometimes be a very difficult hard process do digest so, we have put together a step by step guide to ease the procedure.
1st step: The shareholders or the legal representative shall fill for name approval certificate and present the activities, the location and the offices of the company. This process can be carried out online or in person. The wait is approximately three months.
2nd step: A bank account associated with the company shall be opened due to contributions in cash.
* In case of contributions in kind, an auditor takes over and issues a report for evaluation.
*In case of contributions in kind when it comes to transferring or real estate property the Commercial Registry office takes over.
*In case of Public Limited Liability Company, the payment can be delayed for about 5 years
3rd step: To complete the incorporation, the shareholders should obtain written documents which have the company’s articles of association. All the signatures should as well be applied to the documents, they should be certified and they should all present identification.
4th step: Commercial registration by a shareholder, director or legal representative with the proper documents.
5th step: 15 days after the registration takes place, the company will be registered for tax payments.
6th step: 10 days after giving the commencement of the activity statement, the company will be able to obtain social security after providing the proper documents required for the step.
7th step: Opening different types of books that will contain all the aims, intentions and decisions made by shareholders and corporate associations.