Set up of companies in Portugal
Choosing type of company:
The most common types of companies are:
Private Limited Liability Company, or Limited Liability Company - requires a minimum equity capital of 2 Euros.
Public Limited Company - requires at least 5 founder members and a minimum equity capital of 50,000 Euros.
Company Name:
As a rule, the name must be authorised by the “Registo Nacional de Pessoas Colectivas” prior to setting up a company. There are no guarantees that a company name already in use abroad will be authorised for use in Portugal, except in the case of a branch.
Articles of incorporation:
The company statutes govern the legal relationship between shareholders and company rules pertaining to areas such as powers of attorney and required majorities, if distinct from legal arrangements, transfer of shares, etc.
Companies Registry:
Company registry is declaratory. Inspection of the Companies Registry is undertaken electronically. There is no generic power of attorney but rather powers of attorney with specific contents. This type of attorney may be registered in the Companies Registry, though it is not compulsory.