The Portuguese Republic is sited on territory of Iberian Peninsula. This state is in the tenth place in the rating of Europe regarding the procedure of “Companies Registration”. Portugal attracts a large number of entrepreneurs who are focused on doing commercial activities abroad. This happens for a number of the following reasons:
- low rates for taxation;
- favorable conditions for the local business environment;
- low operating costs;
- government agencies have a positive attitude towards foreign investors.
According to experts, Portugal is new star of the European Economic Area. It is predicted a great financial future.
Main economic sectors of Portugal
- Agricultural sector
- Metallurgical industry
- Mechanical engineering
- Textile sector
Types of business-structures in Portugal
Nowdays, the most common organization forms in Portugal are the following:
- Sociedade anonima
- Sociedade Limitada
The first option is similar to LLC. So far, this is the most common type of organization. The second option is an analogue of CJSC. This form is suitable for those entrepreneurs who are planning to do large-scale business.
What is demanded to register an Lda?
- Directors: no less than 1 (no residency demands).
- Shareholders: no less than 1 (no residency requirements).
- Participants of enterprise act as the owners of the shares. They bear financial responsibility proportional to the size of share.
- There are no capital requirements for the firm.
- The size of each share must be at least one euro.
- Enterprise is allowed to issue only registered shares.
- One director manages the firm.
What is required to register Sociedade Aberta SA?
- Number of participants: minimum 5.
- The amount of capital is from 50 thousand euros (the amount varies depending on the direction of business).
- A portion of the capital of 30% must be deposited during registration, the remainder paid over the next five years.
- A Board of Directors manages the company.
- The firm is granted the right to issue preference, registered, ordinary and bearer shares.
- Company’s registrar approves its Articles of Association.
- A detailed description of the business activity that the owners intend to conduct.
- Amount of capital and data on shareholders. Each shareholder is required to provide a passport; document confirming the residence; tax payer number. If an individual is a shareholder, you must also indicate your marital status and provide a copy of your spouse’s passport.