Corporate Governance Services in Portugal
Get the Best Legal Setup For Your Professional Enterprise
Our corporate lawyers will guide you through the process step-by-step.
How can a lawyer help me?
Choosing the right corporate structure is important, and an experienced lawyer can help with that. The lawyer will determine the kind of activity the firm will pursue and the number of people involved based on the questions they ask.
Limited partnerships are usually the most suitable structure for small to medium sized enterprises. However, most types of business can benefit from an LLP structure.
Most corporations should select the Limited Liability Company because the sale of shares requires prior approval at the General Meeting and the prior exercise of the remaining shareholders’ preemptive acquisition rights. Here, there is more control over capital shares and the company is guaranteed certain stability.
Banks view a high share capital as an additional guarantee when dealing with Public Companies, so they are a good option for clients who want to start big and/or require financing during their start-up phase. Furthermore, Public Company structures are the best approach if the founders want to list on a stock exchange.
A Public Company requires a €50,000 minimum share capital. It’s also significant to recognise the make-up of the Management Group and whether there are one, several executives, or a board. The Management Team will be critical if there are many investors and conflicting interests in the company.
Having a Sole Director who’s responsible for the General Meeting is the easiest and most-recommended approach. In the event that there are more than one director, a Joint Director is the safest form.
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What is Corporate Governance in Portugal?
When it comes to corporate governance, the same concepts that guide best practices across the company’s organisational and corporate levels apply.
An organisation’s culture can be built to last through good governance, which protects the interests of all company stakeholders and controls various groups, such as managers, employees, and shareholders. Legal mechanisms are used to establish an ethical, thriving culture.
Choosing the right legal structure is one of the most important aspects of Good Governance when establishing a firm. A Limited Liability Company is more closed in nature than a Public Company, which has greater transparency.
It’s important to know the philosophy or attitude toward share capital in order to distribute share capital appropriately. Furthermore, a majority shareholder has different privileges than a minority shareholder.
The composition of the Management Body is critical when forming the corporation. Its members oversee the day-to-day operations of the company and direct its future. It is important to recognise and determine whether the client’s interests are safeguarded by it.
When setting up a project, it’s sometimes difficult to know what to do. Working with a lawyer can help you figure out the best course of action, as they are well versed in the current laws.
What Are The Requirements?
There are no personal requirements for setting up a corporation aside from being of legal age and possessing a Portuguese tax identification number, known as a NIF. Each corporate setup has its own set of procedures and requires a unique amount of capital.
There may also be a need for Portugal-specific licences for certain activities. For example catering or importing. Some businesses, like law firms, accounting firms, and pharmacies, may require professional qualifications. Furthermore, corresponding credentials may be required.
Frequently Asked Questions
In the vast majority of cases, a Limited Liability Company is the preferred option.
A Public Company is only desirable in specific cases. For example, when planning to be listed on a stock exchange or when you want to prove to third parties that your company has significant financial resources.
The minimum is one Director. There is no limit for Limited Liability Companies but we recommend having no more than three directors because if there is a disagreement among a Management body with many Directors, it could lead to the paralysis of the body.
We are a department formed by qualified legal experts who have been trained in the field of corpoRate law. We work on these requests every day and it’s our passion. For us, Lexidy is a way of life and what excites us the most is to be able to deliver the happiness and satisfaction of a successful process. We want to help you achieve your goals and dreams.
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