PORTUGAL AS A COUNTRY FOR BUSINESS

Each country has its own peculiarities for opening one's own business and conducting business. Portugal is no exception. Foreigners, including citizens of Ukraine, can create their own business in this country.

Ways of legal registration of business in Portugal:

• The first method. "Golden visa".

Portuguese legislation allows foreigners who invest a certain amount in any sector of the economy to legally stay in the country. In fact, a foreigner who wants to live legally in Portugal can either open a deposit for a certain amount or make investments. But it is worth noting that the amount of investment is quite small. Investments must be made in the amount of 500 thousand euros.

• The second method. Individual or private entrepreneur.

If a person wants to run a business independently, then this is the simplest organizational and legal form for registration. The procedure for registration by an individual entrepreneur is quite simple and free of charge. An entrepreneur in Portugal is fully exempt from taxes in the first hour from the date of registration.

• Method three. Closed joint-stock company.

This organizational and legal form of doing business is suitable for those with authorized capital of at least 1 euro. But there must be at least two founders of ZAO.

• Method four. Limited liability company.

This form of design is more suitable for large businesses. The authorized capital must start with 50 thousand euros, and the number of founders of the LLC must be at least 5 people.

But in Portugal, small businesses are more popular. It is set up as a sole proprietorship. The state strongly supports the development of small businesses by providing tax incentives and privileges.

The costs of registering this type of business are minimal.

For medium-sized businesses, it is more difficult, because the procedure for registering and obtaining permits for certain types of activities is more complicated. If the type of activity is subject to licensing, in addition to registration, it is also necessary to obtain a license, it is impossible to work without it.

Where to begin?

First of all, if you are considering Portugal as a country for doing business, then you need to decide on the type of activity. Next, open a bank account with an amount that will not be less than the authorized capital, depending on the chosen organizational and legal form. Prepare an application for the registration of a company and register it in the Commercial Register of Portugal. Register with the insurance and tax authorities and then submit a document for registering a company to the Ministry of Economy of Portugal.

The legislation of Portugal defines the period in which a company can be registered. It is from one hour. The registration fee is 360 euros.

So, as follows from the above, Portugal is a favorable country for doing small business. But before starting your own business in Portugal, do not forget to use legal ambassadors, because this is the key to successful registration and business.