Official Name: Portugal
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Portugal is a southwestern European country with a rich history, diverse culture, and a rapidly developing economy. The country is located on the Iberian Peninsula and is bordered by Spain to the north and east and the Atlantic Ocean to the west and south.
Portugal has a long and storied history dating back to the pre-Roman era. It was ruled by various kingdoms throughout the centuries, with the most significant being the Kingdom of Portugal, which was established in 1139. Portugal was a global superpower in the 15th and 16th centuries, with its explorers discovering new trade routes and colonies in Africa, Asia, and the Americas. However, Portugal’s power declined in the 17th century, and it became a constitutional monarchy in 1834. Portugal was also a founding member of NATO in 1949 and joined the European Union in 1986.
Portuguese culture is diverse and influenced by its history and geography. Portugal has a rich tradition of music, art, and literature. The country is famous for its Fado music, which is a melancholic and soulful genre that has been declared a UNESCO Intangible Cultural Heritage. Portugal is also known for its colorful festivals, such as the Carnaval, the Festa de Sao Joao, and the Festival do Marisco. Portuguese cuisine is also renowned, with dishes such as Bacalhau (salt cod) and Pastel de Nata (custard tarts) being popular around the world.
Portugal’s economy is rapidly developing and diversified. The country’s main industries include tourism, manufacturing, and agriculture. Portugal is one of the largest cork producers in the world and is also a major exporter of wine, olive oil, and seafood. Portugal has been a member of the Eurozone since 1999, and the Euro is the official currency of the country. Despite some challenges in recent years, Portugal’s economy has shown steady growth, and the country has attracted significant foreign investment.
Portugal is a democratic republic, with the President serving as the head of state and the Prime Minister as the head of government. The country has a unicameral parliament known as the Assembly of the Republic, with members elected by proportional representation. Portugal has a long tradition of democracy, with the Carnation Revolution in 1974 ending the authoritarian regime that had been in power for nearly 50 years.
In conclusion, Portugal is a country with a rich history, diverse culture, and a rapidly developing economy. The country has made significant progress in recent years and is well-positioned to continue to grow and prosper in the future. Whether you are interested in exploring its historic sites, sampling its delicious cuisine, or simply enjoying its stunning natural beauty, Portugal is a destination worth considering.
Types of companies in Portugal
Sociedade por Quotas (Lda.): This is the most common type of company in Portugal, which is equivalent to a limited liability company (LLC) in other countries. It requires a minimum of two shareholders, and the company’s capital is divided into quotas. The liability of the shareholders is limited to their capital contributions.
Sociedade Anónima (SA): This is equivalent to a public limited company (PLC) in other countries. It requires a minimum of five shareholders, and the company’s capital is divided into shares. The liability of the shareholders is limited to their share capital. SA companies are subject to more extensive legal requirements and regulations than Lda companies.
Empresário em Nome Individual (ENI): This is a sole proprietorship, which is the simplest and most straightforward type of business entity. The owner is personally liable for all the debts and obligations of the business. ENI companies are subject to less legal and regulatory requirements than Lda or SA companies.
Cooperative: This is a company that is owned and operated by its members, who share the profits and benefits of the business. Cooperatives can be formed by any group of individuals or legal entities, and they are subject to specific legal requirements.
Branch: This is not a separate legal entity but a branch of a foreign company that is registered in Portugal. The branch has no independent legal personality and is subject to the laws and regulations of the foreign company.
Microenterprise: This is a small business with a turnover of up to €2 million and up to 10 employees. Microenterprises benefit from simplified accounting and tax requirements and reduced administrative burdens.
Advantages of company registration in Portugal
Strategic Location: Portugal is located in the western part of Europe, with easy access to both European and African markets. Its strategic location provides easy access to markets in the Americas as well, making it an excellent gateway for international business.
Stable Economy: Portugal has a stable and diversified economy that has been growing consistently over the past few years. The country’s GDP growth rate has been above the Eurozone average, and its public finances have improved significantly, making it an attractive destination for investment.
Favorable Tax System: Portugal has a favorable tax system that offers numerous incentives for foreign investors. The country has a corporate tax rate of 21%, which is lower than the EU average, and a special tax regime for non-habitual residents that provides significant tax benefits.
Skilled Workforce: Portugal has a highly skilled and educated workforce, with many workers proficient in several languages. The country’s universities and business schools are among the best in Europe, providing a steady supply of skilled professionals.
Ease of Doing Business: Portugal has simplified its business registration procedures, making it easy for entrepreneurs to set up and run a business. The country also offers a favorable environment for startups, with numerous incubators, accelerators, and other support programs.
High Quality of Life: Portugal offers a high quality of life, with a mild climate, beautiful landscapes, and a rich cultural heritage. The country is ranked among the safest countries in the world, making it an excellent destination for both personal and professional growth.
“Our team can provide assistance if you need help registering a company in Portugal.”
What is the legal framework for company registration in Portugal?
Answer: The legal framework for company registration in Portugal is the Commercial Companies Code.
What types of companies can be registered in Portugal?
Answer: The types of companies that can be registered in Portugal include Limited Liability Companies (Lda), Public Limited Companies (SA), partnerships, cooperatives, and sole proprietorships.
What is the minimum capital required to register a company in Portugal?
Answer: The minimum capital required to register a company in Portugal varies depending on the type of company. For an Lda, the minimum capital requirement is €5,000, while for an SA, it is €50,000.
What is the procedure for registering a company in Portugal?
Answer: The procedure for registering a company in Portugal involves choosing a name, drafting articles of association, obtaining a tax number, registering with the Commercial Registry Office, and obtaining a company registration certificate.
Can foreign nationals register a company in Portugal?
Answer: Yes, foreign nationals can register a company in Portugal.
What are the tax implications of registering a company in Portugal?
Answer: The tax implications of registering a company in Portugal include corporate income tax, value-added tax, and social security contributions.
Are there any incentives for foreign investors to register a company in Portugal?
Answer: Yes, there are incentives for foreign investors to register a company in Portugal, including tax incentives and grants.
What is the minimum number of shareholders required to register a company in Portugal?
Answer: The minimum number of shareholders required to register a company in Portugal is one for a sole proprietorship, two for an Lda, and five for an SA.
What is the role of a notary in company registration in Portugal?
Answer: The role of a notary in company registration in Portugal is to certify the articles of association and other legal documents.
What are the legal requirements for the company name in Portugal?
Answer: The legal requirements for the company name in Portugal are that it must be unique, cannot be misleading, and must not violate any trademarks or copyrights.
Can a foreign company register a branch in Portugal?
Answer: Yes, a foreign company can register a branch in Portugal.
What is the difference between an Lda company and an SA company in Portugal?
Answer: The main difference between an Lda company and an SA company in Portugal is the minimum capital requirement and the number of shareholders.
What is a cooperative in Portugal, and how is it registered?
Answer: A cooperative in Portugal is a type of company that is owned and controlled by its members. It is registered with the Commercial Registry Office.
What is a sole proprietorship in Portugal, and how is it registered?
Answer: A sole proprietorship in Portugal is a type of company that is owned and operated by a single individual. It is registered with the Commercial Registry Office.
What is the difference between a microenterprise and a regular company in Portugal?
Answer: The main difference between a microenterprise and a regular company in Portugal is the size of the company and the number of employees.
What are the requirements for company directors in Portugal?
Answer: The requirements for company directors in Portugal include being over 18 years old and not having a criminal record.
Can a company director be a foreign national?
Answer: Yes, a company director can be a foreign national.
What are the obligations of a company director in Portugal?
Answer: The obligations of a company director in Portugal include managing the company in accordance with the law and the articles of association, preparing and filing annual accounts, and convening shareholder meetings.
What is the role of the company secretary in Portugal?
The role of the company secretary in Portugal is to ensure the company complies with all legal and regulatory requirements. This includes maintaining corporate records, preparing and filing corporate documents, and advising the board of directors on legal matters.
What is the minimum number of employees required for a company in Portugal?
There is no minimum number of employees required to register a company in Portugal. However, depending on the size of the company, there may be certain labor laws and regulations that need to be followed.
What are the legal requirements for company accounts in Portugal?
Companies in Portugal are required to maintain accurate and up-to-date financial records. They must prepare annual financial statements and have them audited by a registered accountant or auditor.
What is the deadline for filing annual accounts in Portugal?
The deadline for filing annual accounts in Portugal is generally four months after the end of the fiscal year. However, this can vary depending on the type and size of the company.
What are the penalties for non-compliance with annual accounts filing in Portugal?
Penalties for non-compliance with annual accounts filing in Portugal can include fines, suspension of the company’s activities, and even dissolution of the company.
What is the VAT rate in Portugal?
The VAT rate in Portugal varies depending on the type of goods or services being sold. The standard rate is currently 23%, with reduced rates of 6%, 13%, and 23% applying to certain products and services.
What are the tax obligations for a company in Portugal?
Companies in Portugal are subject to corporate income tax, which is currently set at a flat rate of 21%. They may also be required to pay other taxes such as VAT, stamp duty, and social security contributions.
What are the tax incentives for companies in Portugal?
Portugal offers a range of tax incentives to attract foreign investment and encourage economic growth. These include tax breaks for companies investing in certain regions, research and development, and renewable energy projects.
What are the social security obligations for companies in Portugal?
Companies in Portugal are required to register with the social security system and make contributions on behalf of their employees. The rate of contribution varies depending on the employee’s salary and other factors.
What is the minimum wage in Portugal?
The minimum wage in Portugal is currently set at €665 per month. However, this can vary depending on the employee’s age and experience.
What are the labor laws in Portugal?
Portugal has a comprehensive set of labor laws that cover everything from minimum wage and working hours to employment contracts and health and safety regulations.
What are the legal requirements for hiring employees in Portugal?
Companies in Portugal must comply with a range of legal requirements when hiring employees, including providing written employment contracts, registering employees with social security, and providing a safe working environment.
Can a foreign company hire employees in Portugal?
Yes, foreign companies can hire employees in Portugal. However, they must comply with all relevant labor laws and regulations.
What is the procedure for obtaining a work permit in Portugal?
The procedure for obtaining a work permit in Portugal varies depending on the individual’s nationality and the type of work they will be doing. In general, the employer must apply for the work permit on behalf of the employee.
What is the procedure for obtaining a residence permit in Portugal?
The procedure for obtaining a residence permit in Portugal also varies depending on the individual’s nationality and the purpose of their stay. In general, the individual must apply for the residence permit at a Portuguese consulate in their home country.
What are the legal requirements for obtaining a business license in Portugal?
The requirements for obtaining a business license in Portugal depend on the type of activity the company will perform. Generally, companies need to obtain a business registration certificate (Certificado de Admissibilidade de Firma), which verifies the availability of the company name and confirms the activity and legal form of the company. Additionally, companies may need to obtain specific licenses or permits from relevant authorities depending on the nature of their business.
What are the legal requirements for obtaining a construction license in Portugal?
Companies in Portugal must obtain a construction license from the local authorities before beginning any construction activities. The process involves submitting the necessary documentation, such as architectural plans and specifications, to the relevant authorities, along with proof of compliance with building regulations and environmental standards.
What are the legal requirements for obtaining an environmental permit in Portugal?
Companies in Portugal must obtain an environmental permit before beginning any activities that may impact the environment. The permit is issued by the competent environmental authority and involves the submission of an environmental impact assessment and a description of the proposed activities and their potential impact on the environment.
What are the legal requirements for obtaining a tourism license in Portugal?
Companies in Portugal that operate in the tourism industry, such as hotels, restaurants, and travel agencies, must obtain a tourism license from the relevant authorities. The requirements vary depending on the type of activity and location, but generally involve compliance with health and safety regulations, tax obligations, and other legal requirements.
What is the procedure for registering a trademark in Portugal?
To register a trademark in Portugal, companies must file an application with the Portuguese National Institute of Industrial Property (INPI). The application must include the details of the trademark, such as the name, logo, or slogan, and specify the goods or services for which the trademark will be used. The INPI will examine the application and determine whether the trademark can be registered.
What are the legal requirements for registering a patent in Portugal?
To register a patent in Portugal, companies must file an application with the Portuguese National Institute of Industrial Property (INPI). The application must include a description of the invention, the claims, and any drawings or diagrams that help to illustrate the invention. The INPI will examine the application and determine whether the invention is eligible for a patent.
What are the legal requirements for registering a design in Portugal?
To register a design in Portugal, companies must file an application with the Portuguese National Institute of Industrial Property (INPI). The application must include a description of the design and any drawings or diagrams that help to illustrate the design. The INPI will examine the application and determine whether the design is eligible for registration.
What are the legal requirements for registering a domain name in Portugal?
Companies can register a domain name in Portugal by submitting an application to a domain name registrar accredited by the Portuguese Registry of Internet Domain Names (DNS.PT). The application must include the desired domain name and the registrant’s contact information. The registrar will verify the availability of the domain name and register it if it is available.
What are the legal requirements for registering a software copyright in Portugal?
Copyright protection in Portugal is automatic and does not require registration. However, companies can register their copyright with the Portuguese Copyright Office to obtain proof of ownership.
What are the legal requirements for data protection in Portugal?
Data protection in Portugal is governed by the General Data Protection Regulation (GDPR) and the national Data Protection Law. The law sets out the requirements for the collection, use, storage, and sharing of personal data, including the need for consent, data security, and data subject rights.
What is the General Data Protection Regulation (GDPR), and how does it apply to companies in Portugal?
The GDPR is a European Union regulation that sets out rules for the processing of personal data. It applies to companies that operate within the EU or process the personal data of EU residents. Companies in Portugal must comply with the GDPR if they process personal data.
What are the legal requirements for electronic signatures in Portugal?
In Portugal, electronic signatures are regulated by the Electronic Signature and Certification Law. The law sets out the legal framework for the use of electronic signatures and defines the types of electronic signatures that are recognized as legally binding.
What is the e-invoice system in Portugal?
The e-invoice system in Portugal is a mandatory electronic invoicing system that was implemented in 2019. It requires companies to issue and receive invoices in electronic format through the national platform, the Sistema de Fatura Eletrónica (e-Fatura).
What are the legal requirements for electronic invoicing in Portugal?
The legal requirements for electronic invoicing in Portugal are set out in the Electronic Invoice Law. The law requires companies to issue and receive invoices in electronic format and mandates the use of a specific electronic format for invoices.
What are the legal requirements for electronic archiving in Portugal?
The legal requirements for electronic archiving in Portugal are set out in the Electronic Document and Archiving Law. The law requires companies to store electronic documents in a secure and tamper-proof manner and mandates the use of specific technical standards for electronic archiving.
What are the legal requirements for e-commerce in Portugal?
The legal requirements for e-commerce in Portugal are set out in the Electronic Commerce Law. The law requires companies to provide specific information to consumers when conducting e-commerce transactions and sets out rules for online contract formation.
What are the legal requirements for online advertising in Portugal?
The legal requirements for online advertising in Portugal are set out in the Advertising Code. The code sets out rules for advertising content and placement and requires advertisers to be truthful and not misleading in their advertisements.
What are the legal requirements for social media marketing in Portugal?
The legal requirements for social media marketing in Portugal are similar to those for online advertising. Advertisers must be truthful and not misleading in their marketing content and must comply with the Advertising Code.
What are the legal requirements for online gambling in Portugal?
Online gambling in Portugal is regulated by the Gambling Law. The law sets out the requirements for online gambling operators, including licensing, game fairness, and responsible gambling measures.
What are the legal requirements for crowdfunding in Portugal?
The legal requirements for crowdfunding in Portugal are set out in the Crowdfunding Law. The law regulates crowdfunding platforms and requires them to provide specific information to investors, including the risks associated with the investment.
What are the legal requirements for online banking in Portugal?
The legal requirements for online banking in Portugal are set out in the Banking Law. The law sets out the requirements for online banking transactions, including security and authentication measures, and mandates the use of specific technical standards for electronic banking transactions.
Documents required to register a company om Portugal
- Identification documents of all the company’s shareholders and directors
- Tax identification number (TIN) of all the shareholders and directors
- Proof of address of all the shareholders and directors
- Articles of association of the company
- Proof of payment of the registration fees
- Certificate of deposit of share capital
- Declaration of acceptance of office by the company’s directors
- Declaration of conformity with the legal requirements for the company’s formation
Type of Banks in Portugal
Commercial banks: These are traditional banks that offer a range of financial services such as savings accounts, loans, mortgages, and credit cards. Examples of commercial banks in Portugal include Millennium BCP, Caixa Geral de Depósitos, and Santander Totta.
Investment banks: These banks specialize in providing financial services to corporations and institutional investors. They offer services such as underwriting, mergers and acquisitions, and securities trading. Examples of investment banks in Portugal include Banco Invest and BPI Investment Banking.
Cooperative banks: These are member-owned banks that are operated for the benefit of their members. They typically offer services such as savings accounts, loans, and mortgages. Examples of cooperative banks in Portugal include Montepio Geral and Crédito Agrícola.
Online banks: These are banks that operate exclusively online, without any physical branches. They typically offer lower fees and higher interest rates than traditional banks. Examples of online banks in Portugal include Banco BNI Europa and ActivoBank.
The top universities in Portugal
University of Lisbon
QS Ranking: 301-350
Major Course: Law, Medicine, Engineering
University of Porto
QS Ranking: 351-400
Major Course: Business, Engineering, Medicine
University of Coimbra
QS Ranking: 401-450
Major Course: Law, Medicine, Psychology
Nova University Lisbon
QS Ranking: 501-510
Major Course: Business, Economics, Law
University of Aveiro
QS Ranking: 551-600
Major Course: Engineering, Sciences, Social Sciences
University of Minho
QS Ranking: 601-650
Location: Braga and Guimarães
Major Course: Engineering, Computer Science, Psychology
University of Beira Interior
QS Ranking: 801-1000
Major Course: Engineering, Sciences, Social Sciences
University of Évora
QS Ranking: 801-1000
Major Course: Arts, Sciences, Social Sciences
ISCTE – University Institute of Lisbon
QS Ranking: 801-1000
Major Course: Business, Economics, Social Sciences
Católica Lisbon School of Business and Economics
QS Ranking: 301-350 (for Business and Economics)
Major Course: Business, Economics
Strange or unusual to visitors in Portugal
Meal times: Portuguese meal times can be different from what visitors are used to. Lunch is typically the main meal of the day and can be eaten between 12 pm and 2 pm, while dinner is usually served later, around 8 pm or 9 pm.
Siesta time: In some areas of Portugal, particularly smaller towns and villages, there may be a period of time in the afternoon when many shops and businesses close for a siesta. This is a tradition from when the heat would be at its peak and workers needed a break.
Coffee culture: Portugal has a strong coffee culture, and visitors may be surprised by the small size of the espresso shot (known as a “bica” in Lisbon or “café” in Porto). It is also common to drink coffee standing at the bar rather than sitting at a table.
Sardines: Sardines are a popular food in Portugal, particularly in the summer months. It is not uncommon to see street vendors grilling sardines on the sidewalk.
Bread: Bread is served with most meals in Portugal, and it is often placed on the table before the meal as a complimentary item. Visitors may find the variety and quality of bread in Portugal to be impressive.
Public displays of affection: Public displays of affection are generally accepted in Portugal, and it is not uncommon to see couples kissing or holding hands in public.
Religion: Portugal is a predominantly Catholic country, and visitors may notice the presence of religious icons and symbols in public spaces such as churches, homes, and shops.
Roundabouts: Portugal has a lot of roundabouts, particularly in urban areas. Visitors may need to get used to navigating these traffic circles, which can be challenging at first.
No tipping culture: Unlike some other countries, it is not expected to leave a tip in Portugal. Service charges are usually included in restaurant bills, and tipping is generally reserved for exceptional service.
Portuguese language: Portuguese is the official language of Portugal, and visitors may find it difficult to communicate if they do not speak the language. However, many Portuguese people speak English, particularly in tourist areas.
“Tips for Newcomers: Adjusting to Life in Portugal”
Learn the language: Portuguese is the official language in Portugal, and although many Portuguese people speak English, learning the language will help you communicate better and integrate into the culture.
Embrace the culture: Portugal has a rich culture with delicious food, music, and traditions. Try new foods, attend festivals and events, and learn about the country’s history.
Make local friends: Meeting local people will help you get a better understanding of the culture, and they can give you insider tips on the best places to go and things to see.
Get used to a slower pace of life: Portugal is known for its relaxed way of life, and things often move at a slower pace. Embrace this and enjoy the laid-back lifestyle.
Take advantage of the outdoors: Portugal has a beautiful coastline, parks, and nature reserves. Take advantage of the great outdoors and explore the country’s natural beauty.
Be patient with bureaucracy: Portugal has a lot of paperwork and bureaucracy, especially when it comes to things like visas and residency permits. Be patient, and don’t be afraid to ask for help.
Stay connected: Join social groups, attend language classes or other events to stay connected and build a network of friends and acquaintances.
Know the healthcare system: Portugal has a national healthcare system, and it’s important to understand how it works and how to access medical care.
Stay safe: Portugal is a safe country, but it’s still important to take basic safety precautions like locking doors and being aware of your surroundings, especially in tourist areas.
Enjoy the experience: Portugal is a beautiful and welcoming country, and by embracing the culture and lifestyle, you’ll have a wonderful experience living there.
Top recruitment agencies in Portugal
Hays Portugal – https://www.hays.pt/
Adecco Portugal – https://www.adecco.pt/
Kelly Services Portugal – https://www.kellyservices.pt/
Randstad Portugal – https://www.randstad.pt/
Michael Page Portugal – https://www.michaelpage.pt/
Eurofirms Portugal – https://www.eurofirms.pt/
RHmais Portugal – https://www.rhmais.pt/
Elevus Portugal – https://www.elevus.pt/
T2Human Portugal – https://www.t2human.com/
Talenter Portugal – https://www.talenter.com/pt-pt/
Necessary phone numbers in Portugal
Emergency Services: 112
Police (GNR): 217 654 242 or 213 217 000
Police (PSP): 213 965 000 or 213 422 222
Firefighters: 213 422 222 or 213 400 115
Ambulance/medical emergency: 112 or 808 242 424
Foreigners and Borders Service (SEF): 808 202 653
National Health Service (SNS): 808 242 424
Non-emergency medical helpline: 808 242 424
Poison control center: 800 250 250
Tourist support line: 808 781 212
Lost or stolen credit cards: 800 811 107 (from Portugal) or +351 213 124 300 (from abroad)
Road assistance: 808 506 506 (Automobile Club of Portugal) or 800 209 090 (Via Verde)
Weather information: 1212
The best way to immigrate to Portugal
Golden Visa Program: The Golden Visa Program is a popular way to obtain residency in Portugal. It requires a minimum investment of €500,000 in property, or €1 million in capital investments or bank deposits, among other options.
Work Visa: If you have a job offer from a Portuguese employer, you can apply for a work visa. Your employer will need to sponsor your visa and prove that there are no suitable Portuguese or EU candidates for the job.
Study Visa: If you plan to study in Portugal for more than 90 days, you will need to apply for a study visa. You will need to show proof of acceptance to a recognized educational institution in Portugal.
Family Reunification: If you have family members who are Portuguese citizens or legal residents, you may be eligible for a family reunification visa.
Retirement Visa: Portugal offers a retirement visa for non-EU citizens who can demonstrate that they have a regular income of €1,200 or more per month.
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