To open a company in Portugal, an immigrant must have a residence permit or citizenship. But applicants for the Portugal Golden Visa program first go through all the steps of opening a company and only then receive a residence card.

Opening a company, including the preparation of documents, takes an average of two months. The registration of the company itself takes 1-2 days.

Company registration procedures in Portugal

• Prepare a business plan.
• Specify the type of company activity.
• Provide documents of shareholders, including birth certificate, passport, certificate or temporary permit. The contact information of each shareholder includes the phone number and address and the required marriage certificate.
• Draw up the company’s articles of association.
• Specify the amount of capital of each shareholder and the amount of responsibility of each person.
• Determine the legal structure of the company.
• Reserve and register the company name.
• Fill out the company registration form.
• Enter the company address.
• Get a certificate of acceptance to officially recognize your Portuguese company name.
• Get a company card and collective card, which is the main business identifier, through IRN Portugal.
• Open a business bank account to deposit initial capital. Capital transfer should be done within 5 days at most.
• Register at the local tax office and get a tax code.
• Register your business in a commercial registry.
• Register at the social security office of the company.

What are the costs of registering a company in Portugal?

The first year’s membership dues are around 5,950 euros, and for the next two years, there are no yearly dues.

It should be noted that the average cost of each transaction in Portugal is 15,200 euros, which covers all government fees, incorporation costs, and the cost of opening a bank account.