GSL / Offshore and International Law / Offshore zones / Western Europe / Portugal / Legislation of Portugal

Legislation of Portugal

Service packages Legislation Tax System Audit Services

List of laws and regulations

Act name
Scope of law
commercial companies
prevention of the use of the financial system for the purpose of money laundering
creation of a free trade zone in Madeira
operations in Madeira
residence permit
industrial, commercial and service activities, integrated within the scope of Madeira’s Free Zone
constitution and permanence of companies licensed to operate in the Madeira Free Zone
registration and publication the revocation and forfeiture of licenses granted to entities operating in the Madeira Free Zone
уestablishment and operation of companies or branches of offshore trusts in the Madeira Free Zone
incorporation of fiduciary management instruments (trusts)
tax rates for entities licensed to operate within the institutional framework of the International Business Centre of Madeira
establishment of the International Shipping Register of Madeira
International Shipping Register of Madeira
recreational crafts registered or to be registered in the International Shipping Register of Madeira
tax rates for merchant ships registered in the International Shipping Register of Madeira
applicable taxes for recreational crafts registered under the International Shipping Register of Madeira
Your Consultant
Поиск консультанта...

Поиск консультанта...

Tax treaties entered

Algeria
Angola
Andorra
Austria
Bahrain
Barbados
Belgium
Brazil
Bulgaria
Canada
Cape Verde
Chile
China
Colombia
Croatia
Cuba
Cyprus
Czech Republic
Cote d'Ivoire
Denmark
Estonia
Ethiopia
Finland
France
Georgia
Germany
Greece
Guinea-Bissau
Hong Kong
Hungary
Iceland
India
Indonesia
Ireland
Israel
Italy
Japan
Korea (Republic of)
Kuwait
Latvia
Lithuania
Luxembourg
Macao (China)
Malta
Mexico
Moldova
Montenegro
Morocco
Mozambique
Netherlands
Nigeria
Norway
Pakistan
Panama
Peru
Poland
Oman
Qatar
Romania
Russian Federation
San Marino
Saudi Arabia
Senegal
Singapore
Slovakia
Slovenia
South Africa
Spain
Sweden
Switzerland
Sao Tome and Principe
Timor-Leste
Tunisia
Turkey
Ukraine
United Arab Emirates
United Kingdom
United States
Uruguay
Venezuela
Vietnam

Tax Exchange Information Agreement (TEIA)

Andorra
Antigua and Barbuda
Bermuda
British Virgin Islands
Cayman
Islands
Gibraltar
Liberia
St. Kitts and Nevis
St. Lucia
Turks and Caicos

List of state regulatory authorities

Corporate info

Legal system
civil law
Types of entity
sole proprietor (Empresário em Nome Individual); individual limited liability establishment (Estabelecimento Individual de Responsabilidade Limitada); partnership company (Sociedade em Nome Coletivo); limited partnership company (Sociedades em Comandita); cooperative; limited liability company (Sociedade por Quotas); public limited company (Sociedade anônima ); branch of a foreign entity
Shelf companies permitted
Yes
Incorporation timescale for a new company
1 day
Company suffix
Lda
Sensitive words
identical or similar names, misleading words, authority, bank and related words
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
No
Information to be kept at the registered office
all financial and fiscal documents, registers, company papers etc., they may also be kept in digital form
Seal required, type of seal
not required
Redomiciliation (to, from) permitted
permitted

Director and secretary

Minimum number of directors
1
Residency requirements for directors
No
Corporate directors permitted
Yes
Directors’ meetings/frequency/location
No requirements
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
No, but recommended if there is a non-resident director
Residency requirements for a secretary
No
Qualified secretary required
Yes
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
2
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
Yes / annually / no requirements
Disclosure to local agent
Yes
Disclosure to public
Yes
Beneficiary info disclosure to
No

Shares and share capital

Minimum authorized share capital
2
Minimum issued share capital
2
Minimum paid share capital
2
Authorized capital payment deadlines
No requirements
Issued capital payment deadlines
Before the end of the first financial year
Standard currency
EUR
Standard authorized share capital
2
Standard par value of shares
1
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

Personal tax
14,5-48%
Min. rate for corporate tax
21%
Corporate tax (in detail)
The standard tax rate is 21%. In some regions and for small enterprises, the rate may be lower in terms of part of income.
Capital gains tax
Regular rate
Capital gains tax. Details
Capital gains are included in the general tax base
VAT
23%
VAT. Details
Стандартная ставка НДС составляет 23%. В отношении некоторых товаров и услуг применяются пониженные ставки в размере 13% и 6%
Withholding tax
25%/25%/25%
Other taxes
Social contributions, Municipal property tax, Property transfer tax
Exchange control
No
Government fee
Stamp duty
Rates vary by transaction

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
Yes
Requirement to file Annual Return
No
Publicly accessible Annual Return
No
Audit required
No

General information shortly

Location
Southwestern Europe
Total area
92.151 sq.km
Population
10.347.892 (2021)
Capital
Lisbon
National currency
Euro
Conditional reduction of currency
EUR
Against USD
0.93 (2022)
Climate, average max and min t°
subtropical, Mediterranean; avg. temperature in January – 5-10°C; avg. temperature in July +20-27°C
Time difference from Moscow
- 2 hours
Dialing code
+351
State language
Portuguese
Ethnic groups
Portuguese (87%); citizens of African and Asian descent (12%); small quantity of Spaniards andmigrants from Eastern Europe
Literacy rate
95,7% (2019)
History
History of Portugal as an independent state traces back to 1143, when it was established as an independent kingdom from the kingdom of Leon in 1143. In the 15th and 16th centuries, as the result of pioneering the Age of Discovery, Portugal expanded western influence and established the first global empire, becoming one of the world's major economic, political and military powers, and ultimately dividing the world with Spain. The Portuguese Empire was the longest-lived of the modern European colonial empires, spanning almost 600 years, from the capture of Ceuta in 1415 to the handover of Macau to n 1999 (de facto) or the granting of sovereignty to East Timor in 2002 (de jure). The empire spread throughout a vast number of territories that are now part of 53 different sovereign states. Portugal's international status was greatly reduced during the 19th century, especially following the Independence of Brazil, its largest and most important colony ever. After the 1910 revolution deposed the monarchy, the democratic but unstable Portuguese First Republic was established. Democracy was restored after the Portuguese Colonial War and the Carnation Revolution in 1974. The revolution in 1974 also resulted in the independence of Angola, Mozambique, São Tomé and Príncipe, Timor-Leste, Cape Verde and Guinea-Bissau in 1975. Portugal is one of the founding members of NATO and a member of the EU since 1986.
Credit rating
BBB
Government type
parliamentary republic
Executive branch
Council of Ministers (Prime Minister and ministers)
Legislative branch
Assembly (230 memebers)
Judicial branch
Supreme Court; judicial tribunal of second instance; judicial tribunal of first instance
Unemployment
6,8% (2020)
GDP per capita rank
47 (2020)
Corruption perceptions index rank
62 (2021)

Need a consultation from a specialist?
Share on social media:

Banks of Portugal

Bank
The cost of opening an account, $
Global rating
Countrywide rating
GSL rating
3 030
N/A
N/A
1 820
193
3
RU EN