Frequently Ask Question
1. What are the conditions for doing business in Portugal?
Portugal maintains favorable investment and business policies and encourages investments, including foreign investors. The simplification of the taxation procedures, as well as the improvement of the telecommunications infrastructure, are part of an effort to attract FDI.
2. Are there any limitations concerning foreign investors in Portugal?
Foreign investors have the same rights to establish a company as nationals, however, they are required to declare their investment within 30 days. One of our lawyers in Portugal can give you complete details about these requirements.
3. What are the most important legal issues to consider about company formation?
Observing the provisions of the Company Law is mandatory. These include incorporating and registering a company, having a registered office in the country and providing transparent and accurate financial reports.
4. Are there any special requirements for companies in Portugal?
Government approval is required in sectors like maritime and air transportation, water management and a number of different sectors. Financial institutions need approvals from the Bank of Portugal and/or the Ministry of Finance.
5. What are the legal provisions for employment in Portugal?
The Labor Code is the main legal resource for the rights and obligations of both national and foreign employees. All employment relations in the county are concluded via an employment contract.
6. How are companies taxed in Portugal?
Companies registered in Portugal are taxed on their worldwide profit at a standard rate of 21%. Small businesses may be subject to a simplified taxation regime.
7. How are individuals taxed in Portugal?
Individuals are taxed on their worldwide income derived from the country while foreign employees only on their Portuguese-source income. The personal tax rates are progressive, to up to 48%.
8. What are the visa requirements for Portugal?
The visa requirements will depend on the nationality of the foreign visitor. Some categories of foreign nationals are allowed to stay in the county for up to 90 days with only a valid passport.
9. What are the requirements for obtaining a residence permit in Portugal?
EU nationals who have been lawfully living in the country for at least five years can apply for a permanent residence certificate.
10. How can I handle litigation cases in Portugal?
The team of experts at our law firm in Portugal can help you with representation in local courts. Contact us for more information on how we can assist you.