After meeting the steps, costs and entities for setting up a business, The entrepreneur should pursue the legal choice of the company to be. It is very important to know all types of companies in PortugalIn order to identify the best suited to the type of business.
Businessman Single Name (ENI)
It is the simplest legal form of incorporation of a company. Thus, it is not necessary for the minimum share capital and the respective creation is only possible in the traditional method. This one Type of company It is led and founded by a single individual or individual. Similarly, the trade name of this should be made up of the full legal name or abbreviated business owner and a related expression to the activity performed, if desired.
It is more targeted to small businesses, with small, low-risk investment in the commercial sector, industrial, agricultural or services.
Here, the personal assets and business assets are merged. That is, the onus is entirely on the entrepreneur, this being who answers the debts incurred by the company.
Like any other types of companies in Portugal, this has advantages and disadvantages. The advantages are the total control of the owner over the business, the possibility of reducing tax costs, simple constitution and dissolution and the fact that there is no minimum share capital. On the other hand, the main disadvantages are the risk associated with the merger of personal and business assets and the difficulty in obtaining credit for funds.
Sociedade Unipessoal por Quotas
in this Type of company, Only a single partner, natural or legal person is designated as a starter. So hold the entire capital, whether in cash or goods evaluable in money. The trade name of the company must contain the words "Unipessoal" or "Sociedade Unipessoal", followed by "Limited" or "Ltd.". The establishment of the company can be made via the website company Online or at the counters of the "Empresa na Hora" found scattered throughout the country.
The capital is distributed shares and the minimum amount can be defined by the partners. However, this can not be less than € 1 (if the company is made up of two partners, this value is 2 €).
Here, only the business assets liable for the debts incurred by the company.
The advantages of this method are the complete control of the owner of the business and personal assets is no longer merged with the assets of the company. The disadvantages concern the greater complexity in the constitution of the company and the fact that it does not provide tax advantages.
Individual establishment of Limited Liability (EIRL)
It is Type of company has as holder a single individual or individual. Similarly, the trade name of this shall consist of the extensive civil or abbreviated name of the owner, can be added a reference to the field of activity and the expression "Individual Establishment of Limited Liability" or its "E.I.R.L." acronym.
The establishment of the company is only possible in the traditional method. The minimum capital required is € 5000, of which one third of this will have to be in cash and the remaining part can be in the form of goods.
The assets of the company and the owner's personal assets are independent of each other, but there is the possibility of combined assets.
In terms of liability, only the assets of the company liable for the debts, except in the case of bankruptcy of the holder related to the company.
Company by Quotas
This type of business requires having at least two partners as members, none of which may have another company to operate in the same sector. The name of this should end with the words "Limited" or "Ltd". and the first part may be composed by full or abbreviated name of one or more members, an expression on the activity performed or a mixture of both.
The establishment of the company can be made via the website company Online or at the counters of the "Empresa na Hora" found scattered throughout the country. There is no minimum capital, however each share must have a minimum value of 1 €.
The company's heritage is independent of the personal assets of the partners. That is, the liability is limited to the capital, this being who responds to existing debts.
The advantages of this Type of company They are the separation of assets, diversification of experience and knowledge of the different partners and easier to arrange funds and investments. On the other hand, the disadvantages are greater complexity in the constitution and dissolution of the company, the partners can not put on your IRS losses of your business and there is full control of the company by an entrepreneur.
Public limited company
To open one of these types of companies in Portugal, a minimum of 5 partners or a single partner is required as long as this is a partnership. The name of the company must be formed from the full or abbreviated name of one or more partners, an expression related to the activity carried out or a combination of both and it must end with the expression “Sociedade Anónima” or “SA”.
The minimum capital required is € 50,000 which is divided into equal par value with a minimum of one cent. Here are the actions speaking louder lying represented these securitized form, ie paper documents, or entry form, ie represented by registration in the account of who acquires with the registering entity.
The establishment of the company can be made via the website company Online or at the counters of the "Empresa na Hora" found scattered throughout the country.
The responsibility of each partner is limited to the number of shares subscribed as well as the value of these in the company, and only the company is liable for possible debts.
The advantages of this type of companies are that it is easier to find funds and investments, easier to transfer securities representing the company and each partner is responsible only for their actions in the company. On the other hand, the disadvantages are the great dilution of control of the company, the constitution and dissolution of the company is complex and expensive and if the organization is listed on a capital market, it is subject to strict inspections.
Society in Collective Name
in this Type of company at least two partners are required, and they may have other businesses in the same industry. The name of the company must consist of the full or abbreviated name of one or more partners, followed by the expression “e Companhia” or “Cia” or another expression that indicates the existence of more partners.
The creation of this Type of company it is only possible in the traditional method and does not imply mandatory minimum capital.
Liability is unlimited, subsidiary and solidary and the partners, in addition to their contributions, also account for the contributions of all others.
Here, the personal assets of the partners and the assets of the company merge. In other words, each partner is responsible for his own debts and for the debts of all other partners.
Limited Partnership
It is a mixed company since there are two different types of partners: the limited partners and the limited partners. The former contribute with goods or services, while the others contribute with capital assuming the effective management and direction of society. This type of company also has two forms of constitution: simple or by shares. In simple form there is a minimum number of two members. In the other case, the shareholdings of the limited partners are represented by shares, with a minimum of 6 partners being required, where 5 will be limited partners and 1 limited partner.
The name of the company may consist of the full or abbreviated name of at least one of the partners followed by "em Comandita" or "& Comandita" for companies of the simple type, and in the case of joint stock companies followed by "in Comandita por Shares" or “& Comandita por Shares”.
The creation of this Type of company it is only possible in the traditional method and implies a minimum mandatory capital of € 50,000.
Liability varies according to the types of members. The limited partners have limited liability, accounting only for their entries. On the other hand, the limited partners are responsible for the company's debts in an unlimited and solidary manner. That is, each partner is responsible for their debts and the debts of others.
In relation to assets, in the case of limited partners, the personal assets and assets of the company are separated, whereas the limited partners see their personal assets merged with those of the company.
Cooperative
Estes types of companies in Portugal they are a collective, non-profit association, freely constituted, with variable capital and composition. It aims to satisfy the interests of its members, whether these needs, economic, social or cultural aspirations. When there is a positive revenue balance, it is distributed among its members according to the investment of each one, as a form of reimbursement.
There are two distinct degrees. The first degree, where the cooperatives are natural or legal persons with a minimum number of 5 members and the higher degree with a minimum number of 2 members, where the associations are grouped in the form of unions, federations and confederations.
The creation of these types of companies in Portugal it is carried out by public deed and by private instrument and requires a minimum capital of € 2,500.
Members' liability is limited to the amount of subscribed capital.
Finally, the entrepreneur must know which support existing national in Portugal. This will allow for quick identification and subsequent obtaining the best support for the type of business in question.
