Starting a business in Portugal can be a great opportunity, but it’s important to understand the legal and administrative requirements before launching your venture. Here are some general steps to consider when starting a business in Portugal:

Choose a legal form for your company: You can choose from several legal forms in Portugal, such as a sole proprietorship, a limited liability company, or a public limited company. The most common type of company is the limited liability company (Sociedade por Quotas).

Choose a company name: The name must be unique and approved by the Registo Nacional de Pessoas Coletivas – RNPC (National Registry of Collective Persons).

Register the company: You will need to register the company with the RNPC and obtain a tax identification number (Número de Identificação Fiscal – NIF) and a social security number.

Deposit the minimum share capital: The minimum share capital must be deposited in a bank account in the company’s name.

Obtain a business license: Depending on the type of business you will operate, you may need to obtain a business license from the local municipality.

Register for social security: You will need to register the company and its employees for social security.

Register for taxes: The company will need to register for taxes with the Portuguese Tax Authority (Autoridade Tributária e Aduaneira – AT).

Obtain any necessary permits: Depending on the type of business, you may need to obtain additional permits or licenses from relevant authorities.

The Azores are a great place to start a business due to its lower tax rates and all the incredible grants available from the European Union. In some cases you might be able to receive grants for up to 70% of your investment in key areas such as Technology, Blue Economy, Alternative Energies, and Digital Transformation.

Our startup incubators can help you with the entire process.