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Understand the Jurisdictions Setup Requirement Before Proceed Your Portugal Company Incorporation Services
The most common way for investors to get starting on a new business venture in Portugal is to set up a limited liability company. The limited liability company, or LLC, is the most common setup for business in Portugal and it only requires that the company have one investor and one shareholder in place to get in going.
Of course, there are other business structure types in place for a potential investor to choose from such as the public limited company for example, which can also be incorporated. The LLC is just the most common and cost-efficient option for investors in getting their company incorporated in Portugal.
It is always advisable to enlist the help of a professional company incorporation services when setting up a business in a new country to help steer you in the right direction.
The Advantages of Incorporating a Company in Portugal
Why do investors choose to incorporate a company in Portugal? Some reasons include:
- The fact that setting up an LLC business in Portugal can be done and the company be incorporated within a week with the minimum of one director and one shareholder appointed by the business at the time. Setting up a business within a week is the fastest time frame in Europe.
- The minimum paid up capital that an investor would need to begin a company in Portugal can be done for a very low rate.
- The office space rental and costs for a resident company in Portugal is among the lowest in Western Europe.
- Portugal has been rated by the World Bank as the 5th best European country because of how easy it is to do business in Portugal.
- The Portuguese government is on board and committed to reducing the corporate tax rate for companies.
- Resident companies are also allowed to carry forward their business losses for up to 12 years, which allows them to claim the subsequent tax rebates. This can amount to as much as 70% of the year’s taxable income.
Entering the Portuguese market can be quite tough for start-ups without the proper guidance. Because the country does have a large population, there is also a high unemployment rate percentage.
What You Would Need to Get Your Company Incorporated
For a company to be incorporated in Portugal, the company would need to have one director and one shareholder in place and ready to go. The director does not necessarily have to be a Portugal resident. A company secretary is not necessary either for the business to begin its operations.
For more information on Portugal company incorporation services, please get in touch with us at 3E Accounting. Our professional team of experts are always on hand to assist.
