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Relocate your UK Company to Portugal after Brexit

Updated on Tuesday 02nd February 2021

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Relocate your UK Company to Portugal after Brexit.jpgBritish companies can be easily relocated to Portugal after Brexit, however, business owners need to observe the new rules in this matter. The entire formalities for UK company relocation to Portugal can be explained by one of our company formation in Portugal. We are here to provide information and support if you want to start a business in Portugal.
 
 

What changes after Brexit from a business point of view?

 
UK recently decided to leave the European Union, and such a decision entered into force at the beginning of 2021. The business rules suffered a few changes and mostly the ones referring to import and export activities. In any case, the general business rules need to be respected by UK company owners if they want to relocate the firm to Portugal:
 
  1. The first step is to make a declaration that mentions the relocation from UK to Portugal, a document that must be signed by the company owners and administrators. 
  2. The de-registration of the UK company starts when the declaration of relocation is signed.
  3. For the moment, there won’t be changes to the tax structure for British companies with operations throughout the EU. UK firms can continue the business in Portugal.
  4. A UK company needs to pay the debts before relocation.
 
Once the de-registration is concluded in UK, the relocation process to Portugal can commence. The movable assets enter the discussion, alongside the registration of the firm in Portugal. The entire process might seem complex for UK business owners found for the first time in Portugal. This is where our company formation specialists in Portugal can help business owners enjoy a smooth and simple relocation process. 
 

Registering the UK company in Portugal

 
First of all, the business form needs to be selected, and in Portugal, the limited liability company or LDA is the proper structure, due to simplified formalities and other important benefits. EUR 5,000 is the minimum share capital for a limited liability company in Portugal, deposited in a local bank account. A director can manage the LDA in Portugal, the former UK company. Then, if the Articles of Association with information about the UK company in Portugal are accepted by the authorities, the next step is to register for taxation and social contributions, helped by one of our specialists. This area is important and can be covered by our experts in company formation in Portugal. No matter if you want to relocate your UK company to Portugal or start a business in this country. 
 

Investing in Portugal

 
Portugal is open to business and foreign investments of any kind and sustains businessmen with plenty of encouragements for development. The country has a strategic geographic location that allows international business connections without restrictions. The business environment of Portugal is highly appreciated and many foreign companies already thrive in this country in sectors like tourism, fishery, agriculture, manufacturing, furniture, biotechnology, and more. In terms of advantages for investors in Portugal, besides the experienced, young, and multilingual workforce, the world-class infrastructure, complete investment protection, a safe business environment, transportation, logistics, plus taxation are great benefits that attract entrepreneurs from overseas. Those wanting to reinvest the profits in the firm can enjoy reduced taxes or even exemptions under certain conditions. Plus, there are advantageous visa and residence programmes in Portugal that come with a wide range of grants.
 

Choose our specialists in Portugal

 
The UK company relocation to Portugal is a process that can be overseen by our specialists in company formation. Our international customers benefit from the services of a professional and experienced team who can handle all the formalities in terms of company formation and more. We work in the complete interest and benefits of our clients because we want to achieve the best possible results. Incorporating a company in Portugal is not a complex process, on the contrary. The entire registration of a company in Portugal enters the attention of our specialists who can help both domestic and foreign entrepreneurs have a fast start on the Portuguese market. Here are some interesting facts and figures about the economy of Portugal:
 
  • Nearly USD 161 billion represented the total FDI stock for Portugal in 2019.
  • In terms of ease of doing business, Portugal ranked 39th out of 190 economies in the world, as stated by the World Bank.
  • The Netherlands, Spain, and Luxembourg are the main investors in Portugal.
 
Interested in relocating the UK company in Portugal? Please feel free to contact our company formation specialists in Portugal and ask for assistance.
 

Meet us in Lisbon

Call us now at +351 21 020 0969  to set up an appointment with our lawyers in Lisbon, Portugal. Alternatively you can incorporate your company without traveling to Portugal. As our client, you will beneficiate from the joint expertize of local lawyers and international consultants. Furthermore we offer you the following:

- cost-efficiency: competitive company formation prices;

- prompt response to your inquiry (maxim 24 hours);

- free and complete legal information featured on our site, at your disposal.

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The team from CompanyFormationPortugal.com is very qualified and benefits from extensive expertise in this area. I would definitely recommend them to any entrepreneur decided to start his own business here.

Mihai Cuc, Partner of
Enescu&Cuc; Law Firm
www.romanianlawoffice.com

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