How to Start a Small Business in Portugal

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How to Start a Small Business in Portugal

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How to Start a Small Business in Portugal

Visa for Entrepreneurial Immigrants


This type of visa includes the possibility of obtaining a Residence Permit, and of course all benefits that non-EU foreign nationals.

To attract foreign entrepreneurs not EU to Portugal , the Portuguese legislation has signed a special visa, for citizens who want to carry out an investment activity in Portugal.

This type of investment is aimed at:

1-Creation of small and medium-sized enterprises

a)which have economic relevance,

b) and social,

c) and scientific,

d) and technological

e) and/or cultural for Portugal

It allows the entrepreneur and his/her household to enter Portuguese territory in order to apply for the subsequent Residence Permit for all.

Two types of situations are eligible

Non-EU foreign citizens wishing to carry out an investment activity in Portugal, 

i.e. to start their own business

Non-EU foreign nationals who have already carried out an investment activity 

in Portugal, that is, they have already opened their own business in Portugal.

It is Essential

The demonstration of the viability of the business,

of the seriousness of the investment,

of its economic relevance,

social, scientific, technological or cultural for Portugal as well as from the 

background of its promoters,

which should be compatible with the investment activity to be promoted.

A good business plan

In this sense, the development of a good business plan becomes essential not only to plan proper planning and organization of the project, especially in view of the business will be put into practice in another Portugal and context, but also for credibility and facilitate the decision-making process of the Visa application by the Portuguese Government.

Have formed a company in Portugal

The provision of the company for the visa application, the applicant already having his business formally constituted in Portugal is also a favorable factor in the analysis.

In Portugal companies can be legally constituted by foreign partners and not resident in the country.

The decision of the type of business is solely up to the entrepreneur

Because it is a discretionary decision on the part of the Portuguese judging authority (i.e., the entrepreneur is free to invest in the area he wishes), of course the more structured and credible the business, the greater the impact and the more relevant, the greater the chances of the applicant succeeding in his application.

With regard to the creation of jobs in Portugal, the law does not require a minimum number of jobs to be created for the granting of this type of Visa.

That is, for this purpose the company may ́ be constituted only by its partners or partner (single-person company).

Minimum share capital

In addition, there is no minimum share capital conditional on the application. In Portugal companies can be incorporated with share capital of up to 2€.

However, obviously that serial companies should have a share capital consistent with their activities, which will also be observed in the analysis of the Portugal application.

There are minimum amounts advisable depending on the business for which it is intended :examples - restaurants, shops and others.

Procedure and Procedures

The procedure consists of two steps:

The first with the country of residence

And the other in the destination country- Portugal

Procedure in Portugal

Once in Portugal,

We highlight that at this time the company must necessarily be incorporated in Portugal.

If the documentation is all in accordance with the law, the SEF will defer the application, and a Residence Permit Card is issued to the applicant.

Time and cost

In this type of process the time may vary greatly,

Depending mainly on the decision whether or not to draw up a good

business plan

Proper establishment of the company in Portugal

It usually takes about three months.

Obtaining a Residence Permit in Portugal

In Portugal, the time until obtaining the Residence Permit will depend heavily on where the applicant intends to reside. For example, in the case of Lisbon and Porto, in view of the high number of requests, scheduling with the SEF is taking, on average about 30 days, in these cases.

However, if the applicant comes to reside, or in less populated cities, and time can be 30 days.

Household

It provides for Portuguese legislation that the holder of a residence permit is entitled to members of his family who lived with him in another country, who depend on him or who cohabited with him, regardless of whether the family ties were before or after the resident's entry and regrouped in Portugal.

Thus, they may live together with the holder of the residence permit in Portugal, for as long as the validity of said legal title persists:

The spouse or partner;

minor or incapable children dependent on the couple or one of the spouses/partners;

The older children, dependent on the couple or one of the spouses, who are single and are studying at an educational establishment in Portugal;

The parents of the resident or his/her spouse/partner, provided that they are in charge of them;

Minor siblings, provided that they are under the guardianship of the resident, in accordance with a decision given by the competent authority of the country of origin and provided that such decision is recognized by Portugal.

.Taxation and taxes in Portugal

On the taxation of companies in Portugal, we leave a simplified summary of the main applicable taxes: IRC, VAT, TSU and IRS.

Irc

In Portugal, the main tax levied on corporate profits is the so-called Corporate Income Tax - IRC, which is applicable on the tax base obtained by the organization. To simplify let's consider that the tax base is the simple difference between total income and total expenses earned by a company.

Without a doubt that this Visa is an excellent opportunity for those who want to undertake in Portugal and, at the same time, enjoy all the safety and quality of life in Portugal.

Although the procedure is complex and requires some time, taking care of all the prerequisites and steps carefully the applicant has good chances of obtaining the desired Visa and Residence, together with his household, being able to enjoy all the benefits that this country today offers to its nationals and residents!

Social Security

Free Public School

Peaceful and safe country

Portugal  Residency Permit Experts


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