Foreign entrepreneurs who want to open a business in Portugal
can turn their attention to the import-export sector in order to benefit from the financial advantages offered. A Portuguese trading company
is often the right choice for international investors, and the incorporation formalities are quite simple. Find out from our team of company formation agents in Portugal
what are the procedures to open a trading company in Portugal.
Open an LTD for your trading company in Portugal
The first step in opening a business is its structure and the right choice of entity. Therefore, in the case of import and export activities, a limited liability company in Portugal or LTD
is the right option in this case. Formalities have been greatly simplified lately, allowing foreigners to start the economic activities as soon as possible. Here are the general steps involved in registering a company in Portugal
- • EUR 5,000 is the minimum share capital for opening an LTD in Portugal. This sum must be deposited in a local bank account.
- • At least one stockholder can open an LTD in Portugal.
- • Information about the company owners, activities, general rules, and more are mentioned by the Articles of Association, the key documents in the firm.
- • In the case of Portuguese trading companies, it is important to obtain the required business licenses and permits.
One of our company formation agents in Portugal
can tell you more about the requirements for opening a trading company in this country. We can assist foreign entrepreneurs throughout the entire procedures involved in business formation in Portugal
Licenses and identification codes for import and export activities
The import and export activities of a company in Portugal can be carried out as soon as the necessary licenses have been obtained. According to Portuguese law, companies must be registered with the Trade and Company Register in Portugal, apply for EORI (Economic Operator Registration and Identification), and be registered with the Integrated Tariff of the European Communities (obtaining the TARIC code). And here you can benefit from complete support and assistance from our team of specialists in the field. more about trading in Portugal can be discussed with us.
EORI registration in Portugal
EORI is the code offered to companies with import and export activities developed on the territory of the European Union. This code must be obtained before starting trading activities, so that assistance is needed regarding the conditions and formalities involved. Here, in a few lines, is what the EORI code entails and how it can be obtained:
- • Customs declarations are much simplified due to the EORI code. The checks made by the authorities are carried out in a much shorter time.
- • The EORI code comprises the VAT number of the import and export company in Portugal.
- • A single EORI code is sufficient to identify the activities of a Portuguese import and export company.
- • The formalities of the EORI code come to the attention of our specialists who can apply on behalf of the Portuguese trading company.
Some statistics on imports and exports of Portugal
According to commodity.com
, Portugal annually registers around USD 72 billion in terms of exports, while imports reach somewhere around USD 90 billion. Here are other statistics about trading in Portugal
- Oil exports worth about USD 2.87 billion were recorded in Portugal in 2019.
- Car exports also recorded around USD 4.33 billion in the same year, followed by the export of vehicle parts worth about USD 4 billion.
- Spain is Portugal's largest exporter, with about USD 17 billion in the sector. It is followed by France with exports of approximately USD 9 billion.
- In the case of imports, Portugal recorded around USD 5.5 billion for crude oil.
- About 1% of Portugal's total exports is rolled tobacco.
- Portugal annually exports olive oil worth about USD 8.5 billion and is thus the fourth largest exporter of such a product, after Spain, Italy, and Tunisia.
Choose our team to set up a trading company in Portugal
We treat each client with professionalism and attention to detail, in order to benefit from positive outcomes. The registration of a trading company in Portugal can be done with specialized help offered by our team of experts. We are here to offer all the necessary support for opening an import and export business in Portugal.
Do not hesitate to contact us
and discover the services of our company formation agents in Portugal
. More about trading in Portugal
can be discussed with our specialists in the field.