Starting a business in Portugal: all you need to know.
Portugal is becoming more and more attractive to foreigners that want to set up a business here. The country’s growing economy and the security of the EU member state attract lots of investment from large international companies.
There are several key factorsthat make Portugal so attractive. These and other factors also make it a favorable environment for new entrepreneurs and startup founders.
Main steps to setting up a business in Portugal
The first thing to do is get your business plan ready and make sure it’s clear and economically viable.
You can benefit from grants and incentives from European Union funding programmes to help your business grow or get started in Portugal. You can find several financing solutions with public support, directed in particular to SMEs.
Legal form of the Company
There are different types of companies you can set up in Portugal, so it’s important to know the characteristics and implications of each of the legal forms.
Individual Limited Liability Establishment
Sole proprietorship by shares
Private Limited Company
Public Limited Company
Register the Business
With the Empresa na Hora you can carry out the process in less than an hour. This can be done online or you can carry out the process in less than an hour, in one of the service desks in the country, in Espaços Empresa or in the Commercial Registry Offices.
The ideal location depends on factors such as the area needed for the business, the target market, the financial capacity and the availability of space in the intended area. Depending on these factors, the options are to buy, lease, build the company’s facilities from scratch or use available space in the community.
If you are looking for EU funding or grants, keep in mind that it really depends where you are located, in terms of where your business is registered it makes an impact.
Depending on the activity chosen, there are requirements to be met in order to be authorised to carry out the activity. Make sure to check the general and specific requirements of your economic activity.
Do you need help at starting and running your business in Portugal?
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