8 Steps to build a company

This information is aplicable at Portugal.  The desire for independence, professional achievement or even the solution for an unemployment situation are the main reasons that drives people to built and create their own business. If one of your goals is to constitute a company, you may know the main steps to create a company: 1º Business viability analysis Accordingly, to statistic data almost half of the companies created on Portugal don’t survive more than 2 years long. For that reason, the first concern for the entrepreneur should be the analysis of the business’ viability, get to know the responsibilities and legal, accounting and fiscal obligations inherent to the area. To achieve that, you should resort to accountability or consulting company, which will support the development of a market study, will analyze and quantify the spending (directs and indirect) of projects, necessary capital and internal and external investment sources, incentive systems, and others. If the perspectives are positive, then will be safe to follow with the company constitution.  2º Choosing the name and the Statutes Contract The firms and denominations for the societies are approved by the Delegation of the National Registry of Companies (RNPC) , and may contain a reference of the business activity that appears in the corporate object. The assignment of the name is immediate if: It is chosen from the list of names that are pre-approved; It is constituted with the name of the partners; If you wish that your company has a personalized name, you must require it to RNPC, through the form in Pedido de Certificado de Admissibilidade de Firma ou denominação, which allows you to choose 3 proposals names. This entity will approve or reject the proposals. If it is approved, the RNPC give you an access code to the admission certificate, that should be presented and indicated at the time of the foundation ceremony. If it is rejected, the applicant should repeat the same initial form within the 10 work days following the day which receive the notification that the request was rejected – without payment increment. 3º Signature of the contract of statutes and Commercial Register In the Notary’s Office, in the Commercial Register or in Balcão Empresa na Hora is singed a statutes contract and is issued an access code to the company card, the company is registered and is delivered the permanent on-line certificate access code. 4º Deposit of the Share Capital The share capital’s deposit could be done in the moment of the company’s constitution. If that doesn’t occur, the partner(s) should declare, under their responsibility, that the deposit will be made, in cash, within 5 workdays or until the end of the financial year. 5º The declaration of the commencement of trading The presentation of the declaration of the commencement of trading in the Tax Authority is obligated to do within 15 days after the company constitution. In the case of commercial societies, this declaration should have already a nominated certified accountant, that will be responsible for the technical and fiscal compliance towards the Tax Authority, 6º Creation of Online Postcard Box The company is obligated to create an online postcard Box in the Finance Portal, that should be associated with an account in Via CTT in order to receive all the correspondence from Tax Authority. 7º Enrollment in Social Security The enrollment in Social Security is made automatically by electronic data transference. However, the company has the obligation to confirm the enrollment of the management within the 10 workdays after the presentation of the declaration of the commencement of trading, and at that moment may apply for exemption from payment of compulsory contributions to Social Security (in the case of the partners who have professional activity for others). 8º Communication to the Central Register of Unique Beneficiaries (RCBE) The entities with mandatory obligation to have commercial register, after the company’s constitution, have until 30 days to communicate electronically to the Institute of Registers and Notaries every information about the company and their unique beneficiaries.    The present article is only informative, and is not a substitute for professional counseling to every specific case.