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Portugal

Portugal Flag

Country: Portugal
Region: Europe
Currency: Euro (EUR) (€)
Languages: Portuguese
Time Zone: UTC 0

Phone Code: +351

Communications: Very Good

Formation Cost: 4300 - 5100 USD$
Formation Time: 3-8 days
Maintenance cost: 1700 - 2500 USD$

Executive Summary: Traditionally, Portugal has not offered a very attractive fiscal or regulatory environment in which to start a business. However, the eurozone debt crisis, in which Portugal became firmly embroiled, has forced the Government to take control of public spending and begin other structural adjustments such as reducing an inefficient and over-sized state sector and reforming state-owned enterprises. However, as a result of accepting a EUR78bn bail-out from the EU and the IMF, taxes have had to rise and the economy remains mired in recession as a result of austerity policies. Nevertheless, incorporating a business is now a much swifter process than previously, even if licensing procedures remain cumbersome. Labour regulations, which used to be some of the most inflexible in the EU, have also been relaxed. Corporate tax at 25% (plus a 5% surtax) is in the mid-range for the EU, but personal income tax is high. Recently the Government has made available some fiscal incentives available, and the island of Madeira is a fiscally-privileged zone in which certain industries enjoy tax rates as low as 5%.

Suitable for: Insurance, Shipping, Aviation, Yachting, Holding Companies, E-commerce, Property Ownership
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
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Vehicle Types: Limited companies, joint stock companies, private limited companies, sole proprietorships, branches or general partnerships

Capital primary business districts: Lisbon

Good Relationships: Austria, Belgium, Brazil, Bulgaria, Canada, China, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Mexico, Netherlands, Poland, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom, United States

Bad Relationships: Burma, Egypt, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Moderate

Tax Burden - Individual: Heavy

Headline tax rates: CIT 25%, PIT 11.5%-46.5%, VAT 23%

Treaty Jurisdictions: Algeria, Austria, Belgium, Brazil, Bulgaria, Canada, Cape Verde, Chile, China, Cuba, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Guinea-Bissau, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Korea, Republic of, Kuwait, Latvia, Lithuania, Luxembourg, Macau, Malta, Mexico, Moldova, Morocco, Mozambique, Netherlands, Norway, Pakistan, Panama, Poland, Romania, Russia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Switzerland, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Venezuela

TIEA Jurisdictions: Andorra, Anguilla, Antigua and Barbuda, Aruba, Belize, Bermuda, British Virgin Islands, Cayman Islands, Dominica, Gibraltar, Guernsey, Isle of Man, Jersey, Liberia, Montserrat, Saint Kitts and Nevis, Saint Lucia, Spain, Turks and Caicos Islands

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