Mistakes to Avoid When Registering Your Company
Audrey Marques
Consultant in business establishment & company formation in Portugal
Founder of Business Portugal, Audrey supports French-speaking entrepreneurs in setting up their company in Portugal and opening their bank account. She coordinates a network of partners (accountant, tax adviser) and points clients to the right contacts, she is neither an accountant, nor a tax adviser, nor a lawyer.
Registering your company in Portugal is a key step in creating your business. Certain pitfalls can, however, slow down or complicate the process. Here are the most common mistakes to avoid.
Choosing an unavailable company name
Before starting the procedures, it is crucial to check the availability of your company name. Many people begin the process without this check, which leads to delays and additional costs. Availability is checked through the official Portuguese services (RNPC / Empresa na Hora).
Forgetting to obtain a NIF
The NIF (individual tax number) is essential for administrative and tax procedures in Portugal. It must be obtained beforehand. Do not confuse it with the NIPC, which is the company's tax number, assigned at registration. This NIF / NIPC distinction is essential.
Choosing the wrong legal structure
The choice between ENI, Unipessoal Lda, Lda or SA has tax, social and asset-protection consequences. An unsuitable structure can lead to liability and management problems. Take time to analyse your situation, and get support rather than copying a French model (French structures such as EURL or SARL do not exist in Portugal).
Neglecting post-incorporation formalities
Some formalities, drafting the articles, declaring the beneficial owners (RCBE), obtaining the Certidão Permanente, registering with the Segurança Social, are sometimes underestimated. Ignoring them risks delays or penalties. Each step deserves to be prepared. Accounting, once the company is created, is handled by a partner Contabilista Certificado.
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