Which kind of firm can you adapt to your business?

Before you open the company it´s necessary to do the following question: Which kind of firm it´s most suitable to support your business structure? Important:This concerns to the Portuguese system of societies. Individually incorporated companies Empresários em nome individual: they are formed for just 1 person and the personal possessions are incorporated with the business and economical activity. He has unlimited responsibility. Advantages Disadvantages Full control of the owner Risk associated to heritage Reduction of tax costs More difficulties of getting credit Easiest way to open or close a business   There are not a minimum cost to open the society     Sociedade unipessoal por quotas: Characterizedby a partner with limited responsibility to the value of the subscribed share. It´s imperative that the company has the name “Sociedade Unipessoal” Advantages Disadvantages Full control of the owner Minimum social capital required The personal heritage keeps separated from the company     Companies consisting of more than one person: Sociedade por quotas: It requires a minimum of 2 partners and the company´s name should end with the word “limited”. The amount of the share capital is freely fixed in the article’s association. It corresponds to the sums of the shares subscribed by the shareholders. The partners responsibility is limited to the social capital of the enterprise. Advantages Disadvantages The partners responsibility is limited to the social capital Minimum social capital of 1euro Easier way obtaining investments Lack of totalitarian control by only one entrepreneur   Possibility of a partner to be called for the entire capital   Higher complexity in constitution and dissolution of the company     Sociedade Anónima: It is constituted with a minimum of 5 partners and they have a minimum capital of 50.000 euros. The script has a minimum value of 1 euro, so the partners responsibility is limited to the amount of their script.  On their official denomination must appear the expression “Sociedade Anónima ou SA”. Advantages Disadvantages The owners have limited responsibility to the subscribed script Dilution of company´s control Easier fundraising and investment More stringent inspections   Complex and expensive dissolution   Besides these modalities there also exist the general partnership and the sociedade em comandita, however these types are not usually taken.