Incorporation procedure in Portugal

It is mandatory that the name of the newly formed company in Portugal is checked at the National Registry of Collective Entities (Registro Nacional de Pessoas Colectivas, RNPC).  If the name is available, it can be reserved for a period of 48 hours if a fee is paid. Also, a pre-approved name can be elected from the RNPC database.

In order to obtain a certificate of registration, the founders of an entity must submit an application followed by the articles of association and the certificate of the name approval, but no later than 15 days from the incorporation. When receiving the above, the Portuguese authority will deliver the corporate tax number, the company’s social security number and the declaration of commencement of business activities. The entity’s employees must be registered at the Centros de Formalidades das Empresas or at the Business Registry Offices 24 hours before they start their activity or 10 days at the latest after the declaration of starting the business.

TheLabor Inspectorate must also be notified regarding its existence by providing the newly formed business name and tax number, a copy of the published announcement regarding the company incorporation, the company’s activities and the headquarter address. The registration for the employees’ accident compensation insurance is performed online at a private insurer and cannot cover the individual which doesn’t receive a salary.