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Portugal company formation is structured as an LDA company, which is a form of limited liability company. The process takes two weeks to complete.
The company requires one director and one shareholder of any nationality and residing in any country. A corporation may serve as a shareholder and there is no minimal share capital requirement. Director names are a matter of public record and a local office is mandated along with a VAT number.
The Articles of Association and documentation relating to the sale of shares have to be notarized with founding members appearing before the notary to establish their identities. A local bank account is also required and power of attorney can serve as a substitute for a personal visit (except for bank account opening).
Once the company name is approved by the National Registry of Companies (and two additional names should be submitted as secondary choices), the company must state its main activity. A tax registration card is issued once the name is approved.
The registry deed has to be filed with the Public Registry at the Notary Office and must contain identification card numbers for the provisional collective person, identity papers for the signing entities, the certification of the company and a report from an official auditor on asset participation.
Company registration and renewal fees are applicable. There are also various taxes to be paid including a franchise tax and government fees.