Discover how to register a business in Portugal remotely in 2024. Explore three options: Online company, Empresa na Hora, and Rent-a-Company. Evaluate the pros and cons of each method based on your business needs, involvement level, and budget.
No doubt, Portugal is a great destination for entrepreneurs who want to start or expand their business in the European market. As of 2024, the country has everything necessary to offer, including a strategic location, stable economy, skilled workforce, and favorable tax regime. However, setting up and running a business in Portugal is not free of certain challenges. You will have to deal with bureaucracy, accounting, legal compliance, and banking issues, among other things. That is why many foreign entrepreneurs, consultants, and freelancers choose to register their business in Portugal online. The opportunity is actually a hassle-free and cost-effective way to conduct business in the country.
Different methods are available to register a business in Portugal remotely in 2024. The ultimate choice will depend on the type and size of your business, the amount of capital, and the level of entrepreneur’s involvement.
Option 1: Online company
The online company service allows the creation of sole proprietorships by shares, quotas, and public limited companies using a digital certificate. The option is suitable for entrepreneurs who want to have full control and ownership of their business, as well as a clear business plan and sufficient financial resources.
Now, let’s take a look at the two sides of this coin:
- The method is both fast and convenient, as the entrepreneur can complete the process online, without having to visit any physical office or desk.
- The entrepreneur themselves is free to choose the name, activity, share capital, and by-laws of the company, among other aspects.
- It is cheaper than the traditional way of setting up a company, as the fees are lower and no intermediaries are involved.
At the same time, it requires you to have a digital certificate, does not include any professional assistance or support, and never allows any contributions in kind (e.g., property, equipment, or services) to pay up the share capital of the company.
If you have set your foot down to register a business in Portugal remotely using the online company service, here’s what you shall do:
- Access the ePortugal portal, authenticate yourself using the digital certificate, and fill in the required fields (name, email, phone, civil identification number, and address).
- Choose the type, name, activity, share capital, and by-laws of the company, and submit the application form.
- Pay the setup fee.
- Receive your company certificate, tax identification number, social security number, and access code to the permanent certificate of business registration, within five business days.
Option 2: Empresa na Hora
With the Empresa na Hora service, you can establish sole proprietorships by shares, quotas, and public limited companies in less than an hour. Any of the service desks available in the country are suitable for the above purpose, be it in Espaços Empresa or the Commercial Registry Offices. This is a nice opportunity for entrepreneurs looking for a quick and easy way to launch their business, who do not mind using a pre-approved name and by-laws for their company.
Being fast and simple, the Empresa na Hora service is also cheaper than the traditional way of setting up a company. It comes with an opportunity for the entrepreneur to get their TIN, SSN, company certificate, access code to the permanent certificate of business registration, and trademark registration in a single act.
Yet, it also requires the physical presence of the entrepreneur or their representative with a power of attorney, at one of the service desks. Under this option, no name or company by-laws customization is possible.
To register a business in Portugal remotely via the Empresa na Hora service, you will have to book an appointment at one of the service desks, prepare the necessary documents, and choose your company type, name, activity, share capital, and by-laws. The final steps are to pay the setup fee and eventually receive your company’s documents and details.
Option 3: Rent-a-Company
Using the Rent-a-Company service, foreign entrepreneurs employ a local company that acts as an intermediary between themselves and their clients or suppliers. The range of services offered under this option is truly impressive. You will have an opportunity to issue invoices, collect payments, pay taxes, manage social security contributions, handle accounting and reporting, and provide legal and administrative support. If you want to test the market, have a low-risk and low-cost way to operate your business, and do not require full business ownership or control, it might work great for you.
Just like the above two remote options, Rent-a-Company is more convenient and flexible than the traditional ways to set up a business in Portugal. Another bonus is its much lower price, as your fees are based on the turnover and services provided by Rent-a-Company, and you face no fixed costs or overheads.
However, with the Rent-a-Company option, you won’t have full ownership of your business. In this case, you are only a contractor or a service provider. Plus, you will have no chance to benefit from some tax advantages or incentives that may be available for registered companies in Portugal. IP and business confidentiality protection is also not guaranteed for Rent-a-Company owners.
Please be advised that to use the Rent-a-Company service for remote company incorporation in Portugal, these steps are a must:
- Contact a professional and reliable Rent-a-Company service provider in Portugal and provide them with the details of your business activity, including its type, scope, duration, and expected income.
- Sign a contract with the Rent-a-Company service provider, which specifies the terms and conditions of the service (these shall include the corresponding fees, responsibilities, liabilities, and termination clauses).
- Offer your services or products to clients or suppliers, and send timesheets or invoices to the Rent-a-Company service provider.
- Receive the net income from the Rent-a-Company service provider after they deduct the taxes and fees, and transfer the funds to your bank account back home or elsewhere.
Looking to start a business in Portugal in 2024? Logistics, information technology, agriculture, finance, and tourism are all promising areas. To work in the EU, you may think about purchasing a ready-made company or establishing a business in Portugal remotely. International Wealth experts will eagerly provide you with detailed information on registration issues and offer assistance with any related matters, including payments, fees, taxes, relocation, and more.
