Requirements for successfully establishing a company in Portugal

To live and work in Portugal is for many a dream that, with an original idea and enough funds, can become a reality. Therefore, you should plan this step precisely and be well prepared.

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Even if the bureaucracy in Portugal has decreased some since joining the EU, it is still just as costly to handle necessary formalities as in other countries. For specific trade and professional groups, it is necessary to prove their skills by having appropriate diplomas or certificates. Portuguese proficiency is also required in many professions and must be certified by taking a test. Lawyers, for example, may not work without language skills. When establishing a company, you should first deal with the question of what desired corporate structure the company should have. You can run the company independently and therefore be liable for your own assets. You can also set up a limited liability company, a "Sociedade por Quotas." As a foreigner, you need an identification number to receive an income in Portugal. We will gladly support you in communicating with authorities, partners and customers. We translate all your documents quickly, accurately and professionally. Send us the text to be translated via email or with the request form on the right hand side, and we will gladly generate a quote for you. We are readily available to you for any questions. Contact us today!

Social security

As an independent business owner, you can either pay the minimum contribution in the amount of 25.4% or increased contributions amounting to 32%. The minimum level of protection offers the most important social security, while the additional contributions provide added family assistance and support in the event of illness. The contribution base is the national minimum wage. The employer can even choose the amount of the base himself (ranging from the minimum up to twelve times the amount of the minimum wage). Also, the employees must be registered with social security, as contributions are calculated on the basis of full income including bonuses and subsidies.

Save on taxes in Portugal

The maximum income tax in Portugal is 42%, whereas the maximum corporate tax rate is only 25%. In the special zone of Madeira, entrepreneurs can benefit from especially low tax rates if they meet certain criteria. These tax rates serve primarily to create additional jobs as wages are completely tax deductible. In order to fill all of the requirements, assistance from a tax consultant is recommended because he or she is specialized in the regulations of the special zone and can devise the optimal solution.

Professional translations for all industry sectors

To ensure that nothing stands in the way of your business activity in Portugal, we will take care of the professional translation of your documents. While we translate from the more common subject areas such as medicine, law and technology, we also do so in more specialized areas such as biochemistry and food technology. Our project managers possess years of experience and always choose the right translator for your texts. If you are planning an extensive project, it is possibly worth creating a Translation Memory System. Strengthen your corporate identity with consistent terminology and simplify your internal processes. We will gladly advise you on this individually. Please contact us by telephone or by email.

2015-10-12T09:00:31.8156914Z

Joanne Mensink
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