You have made the decision to live in Portugal and to embark on entrepreneurship, so this article is for you. Did you know that it is possible to open a business in one hour in Portugal? In recent years, portuguese administration has modernized and simplified the process of setting up a company in Portugal. It has also set up a "Empresa na hora" department (your company within an hour) so that entrepreneurs can save time. What are the stages of creating a company ? How to start your business in one hour in Portugal ? Lisbob, the Expatriate and Entrepreneur Assistant in Lisbon and Portugal tells you everything.
How to create a business in hour in Portugal, step by step
What kind of society to create and where to go
To start a business in one hour in Portugal you have to go to one of the offices Empresa na Hora available everywhere in Portugal or at the office of the RNPC. This system of company creation within the hour is only available for the constitution of certain types of copmanies : sociedades unipessoais por quotas, sociedades por quotas and sociedades anónimas (individual companies by shares, joint-stock companies and public limited companies with social pact pre- approved). Other types of companies require more complicated and therefore longer procedures.
Open a business bank account
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Choosing the name of your company in Portugal
Opening your business is like having a child: you have to decide how to name it. If you make the decision to start your own business in Portugal you should know that you cannot choose any name. Indeed the Conservatoria do Registo Comercial of Lisbon has the last word on the name of your company. In the case of creating a company within one hour you have three options to choose its name:
- Take a name from the list of official names (you can add an expression related to the activity). The advantage of this lsite is that the names are available now, the disadvantage being that the names are sometimes wacky (APRIMORADALÁXIA, PALESTREXÓTIKA or even TANGENTADERENTE). The list is available by clicking here;
- Choose a name associated with a brand in the official list (with the name and expression of the company). Again, the names are sometimes original as BRAVITOMAX, ELOCAFLAR or even NEUTOFLOBE, You can see the list by clicking here;
- Present a valid Certificate of Admissibilidade of Firma (Certificate of Eligibility) of a Company previously issued by the National Register of Legal Entities (RNPC).
You can obtain this certificate online, in the different RNPC delegations or by mail via the own form that you can print by clicking here. This Certificate of Eligibility costs 75 € and it takes 15 working days to get the answer, or 150 € in case of emergency.
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Pre-approved social pact for the creation of society
Once the name of your chosen company has been validated you will have to choose a Pacto Social Pre-Aprovado (pre-approved social pact). This simplifies the process and saves time. The pacts are quite simple and basic and so are unsurprising. The list of existing pacts and the details of each can be consulted by clicking here.
Balcão na Hora
The partners, or you, in the case of an individual company, must go to an office of the RNPC or a Balcão na Hora office and provide the appropriate documentation for the type of company you intend to create.
Documentation required for the creation of a company in Portugal
If you are a Pessoa Singular (individual), you will need the following documents:
- Document of Finanças with Number of Contributor;
- Identity document - Identity card, passport, driving license or residence permit (the last two documents are only allowed if the capital is less than 15,000 euros).
In the case of a Pessoa Coletiva (collective person):
- Cartão da Empresa (Corporate Card) or its access code, or Cartão de Pessoa Colectiva (access code);
- Certidão de Registo Comercial (Certificate of Registration in the Commercial Register) updated;
- Minutes of the general meeting.
Once registered in the commercial register you will receive the following documentation:
- Certidão do Pacto Social (Certificate of the social pact) ;
- Access code to the Certidão de Registo Comercial ( certificate of the commercial register) ;
- Social Security Number (NISS) ;
- Code of access to Cartão Electrónico of the company (later you will receive the physical card of the company)
Note: The Cartão Electrónico of the company includes:
- Date of incorporation and legal nature of the company;
- Business Identification Number (NIPC);
- Social Security Registration Number (NISS);
- Portuguese classification code of economic activity (CAE) and up to 3 secondary CAE
Opening a company in Portugal requires some preparation
Declaration of start of activity
We can not advise you better than to have you helped by an accountant during the life of your company. It starts from the moment of creation. The declaration of commencement of activity must be made in a timely manner and by specific procedures:
- At the time of constitution of the company, signed by a TOC (official accountant) ;
- At the time of constitution of the company by choosing a TOC from a list made available at the counter of the Commercial Register ;
- Within 15 days of the declaration, send it to the Finanças duly completed and signed by a TOC.
Deposit of capital
If you are going to open a company with quotas (joint stock company) or unipessoal por quotas (personal stock), you must deposit the capital before the end of the first year.
In the case of public limited companies, the value of the share capital must be deposited with a bank in the name of the company within five business days of incorporation.
You will have some signature to make and some tax to pay in order to start your business in Portugal
Register your mark within one hour
It is also possible to create a brand at the same places of Empresa na Hora for the following categories of products and services:
Clothing, footwear and headgear;
Alcoholic beverages (except beers);
Advertising, business management, business administration, office work, resale to others and retail or wholesale;
Insurance, financial and financial sponsorship, monetary and real estate;
Administration of real estate and mediation services in the purchase and sale of real estate;
Construction, repair and installation services;
Education, training and sports and cultural activities;
Food Services and Temporary Accommodation (Alojamento Local)
Costs of starting a business in the hour in Portugal
The creation of a company whose capital consists solely of cash money costs 360 € (with commercial registration and publications included).
If the company's capital is also made up of assets, it will have additional costs:
€ 50 per property or social participation;
€ 30 for each "mobile" asset (car, boat, truck);
€ 20 per moped or motorcycle (less than 50 cm3 capacity).
Create a brand in Portugal has a cost of 200 € (for 1 class of products or services). Each additional class costs 44 €. If for example you offer two services of two different categories it will take 244 €. These amounts can be paid in cash, by check or through Mulitbanco and ATM.
