The procedure of registration of the company by the number of necessary legal and administrative formalities is much easier than in other countries of Western Europe and even in neighboring Spain. This is partly due to factors such as the relatively low level of taxation, as well as a lower level of economic development than in other developed European Countries .
An important plus of the Portuguese company registration procedure is also that the registration authorities are not too demanding to comply with certain formalities with documents. For example, a person registering a company is not required to confirm that he has a higher education, as in many other countries. Many legal requirements to the registered company are practically nothing more than a formality, so that thorough adherence to the law`s letter is not a vital necessity.
– The number of founders must be at least 3 people (one of the founders must be a citizen of the European Union)
– The authorized capital must be at least 5,000 Euros.
The requirement of mandatory participation of a citizen of the European Union is one of the legal formalities mentioned above. As for operations with authorized capital, they are usually carried out according to the following scheme. The amount of at least 5,000 Euros (share capital) is transferred to the company’s current account and the account is frozen until the end of the registration procedure. After its completion, it is permissible to withdraw this money from the account and use it either in the interests of the company or for any other purposes. In most cases, 5,000 Euros of share capital is frozen for just one week
For conducting construction business and some others it is necessary to obtain a construction license of Portuguese standard. As a rule, there are no special difficulties with this. The undeniable advantage of investing in the Portuguese construction business is a rather unusual combination of very high real estate prices and low cost of labor and building materials. These factors, as well as the growing demand for luxury residential real estate in the resort areas significantly increases the profitability of the construction business in Portugal.
Often, the whole procedure takes – 1-2 months.