Opening a company in Portugal is quicker than its reputation suggests — a standard limited company can be incorporated in a single appointment under the Empresa na Hora scheme, sometimes in under an hour. The speed is real, but so are the steps you need to get right around it: choosing the correct legal form, registering the beneficial owner, appointing a certified accountant and opening a business bank account. Here’s the full step-by-step for 2026.
Step 1: Choose your legal form — Lda vs Unipessoal
Most small and medium businesses in Portugal use a Lda (Sociedade por Quotas), a private limited company. Your two main variants:
- Sociedade Unipessoal por Quotas — a single-shareholder limited company. One owner, limited liability, simple structure. Ideal for a solo founder or a foreign parent company owning 100%.
- Sociedade por Quotas (Lda) — two or more shareholders (sócios), each holding a quota. Standard for partnerships and multi-founder startups.
Both give limited liability — your personal assets are separated from the company’s debts — and both are taxed under corporate income tax (IRC). A sole trader who wants that liability shield, or plans to raise investment, typically incorporates rather than freelancing under recibos verdes. There’s also the SA (Sociedade Anónima), a public limited company with higher capital and governance requirements, used by larger ventures.
Step 2: Reserve your company name
You need an approved name before you incorporate. Two routes:
- Pick a pre-approved name from the Empresa na Hora list (fastest — you incorporate the same day), or
- Request your own name via the RNPC (National Registry of Legal Persons) and obtain a Certificado de Admissibilidade (certificate of admissibility). This takes a few working days.
You’ll also choose your CAE (economic activity classification) code, which describes what the company does.
Step 3: Decide on capital and shareholders
The legal minimum share capital for an Lda is nominal — €1 per shareholder — so a Unipessoal can technically be formed with €1. In practice, set a realistic figure (many founders use €1,000–5,000) because banks, landlords and counterparties read very low capital as a red flag, and you’ll want working funds anyway. Capital can be paid in by the end of the first financial year. Decide the shareholding split and who the gerente (managing director) will be.
Step 4: Incorporate — Empresa na Hora vs Empresa Online
Two official incorporation channels:
- Empresa na Hora (“company in an hour”). In person at a registry counter or an Espaço Empresa, with a pre-approved name and standard articles of association. You leave with your company NIF, registration and articles the same day. Fast and cheap (around €360 in state fees), but you use standard bylaws.
- Empresa Online. Fully online via the ePortugal / justiça portal, requiring a Chave Móvel Digital or qualified digital certificate. Slightly cheaper, lets you use customised articles of association, and takes a couple of business days. Ideal if you can’t attend in person or need bespoke bylaws (useful for investor structures).
Non-residents can incorporate, but each shareholder and director needs a NIF first (see our NIF guide), and remote incorporation is very doable with the right digital credentials or a power of attorney.
Step 5: Register the beneficial owner (RCBE)
After incorporation you must file the RCBE (Registo Central do Beneficiário Efetivo) — the central register of beneficial ownership — declaring the real individuals who ultimately own or control the company. It’s mandatory, filed online through the justiça portal, and required before you can operate fully (banks ask for it). Newly incorporated companies must submit it promptly; miss it and you face penalties and blocked processes.
Step 6: Appoint a certified accountant (TOC/contabilista certificado)
Unlike a freelancer on the simplified regime, a company must have a contabilista certificado (certified accountant) from day one. They register the company’s start of activity with Finanças, handle IRC and IVA filings, run payroll, and keep the organised accounts the law requires. This isn’t optional bureaucracy — it’s a legal requirement and genuinely necessary, since corporate accounting is more involved than personal tax. Budget for a monthly fee.
Step 7: Register the start of activity and sort tax
Your accountant files the company’s declaração de início de atividade with the Autoridade Tributária, confirming your CAE, VAT position and corporate tax regime. Companies charge IVA (standard mainland rate 23%) and file periodic VAT returns; profits are subject to IRC (corporate income tax) plus municipal and, on higher profits, state surcharges. Standard IRC has trended down in recent years, and reduced rates apply to the first slice of taxable profit for SMEs — confirm the current rate with your accountant, as it changes.
Step 8: Open a business bank account
You’ll need a corporate bank account to deposit capital, receive payments and pay suppliers and salaries. Banks typically ask for the company registration, articles of association, company NIF, the RCBE, and ID plus NIF for shareholders and directors. As a non-resident, expect more scrutiny and, sometimes, an in-person visit. Our banking pillar covers the options, and timing this alongside incorporation keeps everything moving.
Common mistakes
- Setting €1 capital and then struggling with bank and counterparty credibility.
- Forgetting the RCBE filing after incorporation — it blocks later steps.
- Assuming you can skip the accountant — companies legally can’t.
- Not getting NIFs for every shareholder and director first — nothing proceeds without them.
- Choosing Empresa na Hora when you actually need custom articles for an investor structure — use Empresa Online instead.
Short FAQ
How long does it take? Empresa na Hora can be same-day; Empresa Online takes a couple of business days. Banking and RCBE add a little more.
Can a foreigner own 100% of a Portuguese company? Yes — a Unipessoal Lda or an SA can be wholly foreign-owned; each owner needs a NIF.
Do I need to be resident? No, but non-residents usually need a fiscal setup and may face extra bank checks. Remote incorporation is possible.
Lda or Unipessoal? Unipessoal for a single owner; standard Lda for two or more shareholders. Both offer limited liability.
Fees, tax rates and procedures change, so treat this as orientation and confirm current details with the registry, Finanças or your accountant.
Want your company incorporated, RCBE filed, accountant appointed and bank account opened without the guesswork? Explore our services or contact us — GrowIN Portugal sets up your Portuguese company end to end.