Set up a Foundation in Portugal

Updated on Monday 16th October 2017

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set-up-a-foundation-in-portugal.jpgForeign investors can direct their attention to non-profit organizations or foundations in Portugal if they want to collect funds and invest them in science, education, or research in varied areas of interest. A foundation deals with donations made by companies or citizens and it is obliged to act in a transparent manner. Our company formation specialists in Portugal can help individuals set up foundations in Portugal and, even more, the same team can offer support when registering a company in Portugal.
 

Documents preparation for a foundation in Portugal

 
Foundations in Portugal are registered as associations with the IRN (Instituto dos Registros e Notariado) in the country, where several documents are solicited, among which we mention:
 
•    the names of the foundation in Portugal owners, with ID copies and details about the business address;
•    documents mentioning the purpose of the charity and where the funds will be directed;
•    a document which comprises the rules of the association in Portugal;
•    the lease contract of the charity. 
 
A foundation in Portugal can be set up with a fee of about EUR300, and choosing the name of the charity might be subject to a different fee. We mention that a foundation or a non-profit organization in Portugal will receive a fiscal ID, will have a bank account for future transactions and will be supervised by a board of managers as soon as it is established.
 
In matters of company registration in Portugal and the documents which need to be prepared, we suggest you to ask for support from our specialists in company incorporation in Portugal.
 

Accounting services for foundations in Portugal

 
Even if it is a non-governmental organization (NGO), there is still a need for an accountant who can take care of the financial aspect of the charity, especially if the owner plans gathering funds of about EUR 100,000 per year. Furthermore, the association will have employees, therefore, payroll services are necessary. The bookkeeper of your charity in Portugal will take care of each transaction in matters of documents and will explain each detail regarding the taxes imposed in this matter, if any.
 
Additional information about how to set up a foundation in Portugal or about how to register your business can be solicited from our team of company incorporation consultants in Portugal, so please feel free to contact us.
 
 
 

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