Quanto Custa e Como Posso Abrir Empresa em Portugal?

Summary

In this video, Gonçalo Malheiro, a certified financial educator, shares his experience of opening his first business, a sole proprietorship limited company, in Portugal. He discusses the decision-making process, the steps involved in registering the company, and the associated costs, such as legal and accounting fees. Gonçalo also explains when it's beneficial to open a business based on factors like tax savings and expenses. He emphasizes the importance of making informed decisions by evaluating financial variables and consulting experts, and encourages viewers to reach out for advice through social media if needed.

Takeaways

• 😀 It's important to evaluate whether opening a company is beneficial based on factors like tax savings and the nature of your business.
• 😀 Starting as a sole proprietor ('empresário em nome individual') involves no setup cost, but the tax rates are higher compared to opening a company.
• 😀 A single-member limited liability company ('sociedade unipessoal por cotas') can provide lower taxes and allow for the deduction of business-related expenses, such as equipment costs.
• 😀 The process of opening a company involves several key steps, including choosing the company type, selecting a name, and gathering necessary documentation.
• 😀 In Portugal, there are different company types, including individual entrepreneurs, limited liability companies (for small to medium businesses), and joint-stock companies (for large businesses).
• 😀 The company name can either be pre-approved for free or chosen by the individual with a 75€ fee, depending on availability.
• 😀 The key documents required for company registration include the social contract, identification of partners, company object, and more.
• 😀 Registering the company at the Commercial Registry or online portal is the next step after preparing the necessary documentation.
• 😀 After registration, the company must open a bank account, deposit the required capital (if applicable), and begin operations.
• 😀 It's essential to work with professionals, such as accountants and lawyers, to handle the more complex aspects of setting up the company efficiently.
• 😀 The total cost of opening the company in the example presented was approximately 700€, which includes legal fees, name registration, and obtaining the company’s permanent certificate.
• 😀 When deciding the right time to open a company, consider factors like the scale of expenses and income, as well as potential tax advantages compared to staying as a sole proprietor.
• 😀 As income grows, transitioning to a company can offer tax benefits, as you may end up paying lower corporate taxes (21%) than personal income tax (which can exceed 21% above certain thresholds).

Q & A

What types of business structures are mentioned in the video?

The video mentions various types of business structures in Portugal, including individual entrepreneurs (empresário em nome individual), sole shareholder limited liability companies (sociedade unipessoal por cotas), limited liability companies (sociedades por cotas), and public limited companies (sociedades anónimas).

Why did the speaker decide to open a business?

The speaker decided to open a business primarily to save money on taxes. By registering a company, the speaker could pay a lower corporate tax rate (IRC) compared to what they would pay as an individual entrepreneur.

What is the minimum capital required for different types of companies in Portugal?

For a sole shareholder limited liability company (sociedade unipessoal por cotas), the minimum capital required is just 1 euro. In contrast, a public limited company (sociedade anónima) requires a minimum capital of 50,000 euros.

What steps are involved in opening a business in Portugal?

The steps include choosing the type of company, selecting a company name, gathering necessary documentation, registering the company, opening a company bank account, and then officially starting the business activity with the help of a certified accountant.

What were the costs involved in opening the speaker's company?

The total costs for opening the speaker's company were approximately 700 euros, which included 600 euros for legal and accounting services, 75 euros for selecting a company name, and 25 euros for issuing the company's permanent certificate.

What is the advantage of opening a business in terms of tax savings?

Opening a business allows for tax savings because corporate tax (IRC) is lower than the tax rate (IRS) for individual entrepreneurs. For example, as an individual, one might pay a higher rate of tax, but with a company, taxes are only paid on the net profit after deducting expenses.

When is the ideal time to open a company according to the speaker?

The ideal time to open a company depends on various factors, such as if the business requires substantial expenses to operate at full capacity or if the income exceeds a certain threshold where the corporate tax rate is more favorable than individual tax rates.

How does the tax burden differ between being an individual entrepreneur and opening a company?

As an individual entrepreneur, one pays taxes on gross income, which could result in higher taxes if the income is high. With a company, taxes are paid only on the profit after expenses, which can reduce the overall tax burden.

How much does Social Security contribute when operating as an individual entrepreneur versus a company?

As an individual entrepreneur, the Social Security rate is 25.17%. However, for a company, the total contribution is higher, with 34.75% being divided between the employer (23.75%) and the employee (11%).

What role did the speaker's lawyer and accountant play in the process of opening the company?

The speaker delegated the process of setting up the company to a trusted lawyer and accountant. The lawyer handled the legal aspects, while the accountant assisted with tax and financial registration. This allowed the speaker to focus on tasks they were more familiar with, like signing documents and opening the bank account.