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flag Portugal Portugal: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labor | Social Partners

 

Setting Up a Company

The Sociedade por quotas de responsabilidade limitada (Lda) is a limited liability company.
Number of partners: 2 partners minimum. One partner only in the case of a Single Person Private Limited Liability company (SUQ).
Capital (max/min): No minimum share capital.
Shareholders and liability: Liability is limited to the amount of capital contributed.
The Sociedade anonima de responsabilidade limidada (SA) is a public limited company.
Number of partners: 5 partners minimum; they may be foreigners and non-residents.
Capital (max/min): 50,000 EUR minimum, entirely taken up, with the obligation to release at least 30%.
Shareholders and liability: Liability is limited to the amount of capital contributed.
The Sociedade em nome colectivo is a general partnership.
Number of partners: 2 partners minimum.
Capital (max/min): No minimum share capital.
Shareholders and liability: Liability is joint and indefinite regarding third parties.
The Sociedade em comandita is a limited joint-stock partnership.
Number of partners: 2 partners minimum, with active partners and silent partners.
Capital (max/min): No minimum share capital.
Shareholders and liability: Liability is indefinite for active partners, and limited to the amount of capital contributed for silent partners.
The Competent Organization
Business Formalities Centres (CFE)
Search a Company or a Financial Report
Guianet
 
Setting Up a Company Portugal OECD
Procedures (number) 5.0 5.0
Time (days) 5.0 12.0

Source: Doing Business.

 
Business Setup Procedures
Consult Doing Business Website, to know about procedures to start a Business in Portugal.
Trade Register (in Portuguese), in Portuguese.

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The Active Population in Figures

201120122013
Labor force 5,543,0005,480,0005,395,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -62.50%62.00%
Men activity rate 69.40%68.00%68.00%
Women activity rate 56.20%56.40%56.50%

Source: UN - United Nations

 
Employed Persons, by Occupation (% of Total Labor Force) 2008
Manufacturing 17.2%
Agriculture, Hunting and Forestry 11.1%
Construction 10.7%
Education 6.6%
Real Estate, Renting and Business Activities 6.5%
Hotels and Restaurants 6.1%
Health and Social Work 5.9%
Transport and Storage 4.3%
Households with Employed Persons 3.4%
Professional, scientific and technical activities 3.4%
Administrative and support service activities 2.6%
Financial and insurance activities 1.9%
Information and communication 1.8%
Arts, entertainment and recreation 0.9%
Electricity, Gas and Water Supply 0.6%
Mining and Quarrying 0.3%

Source: International Labor Organization (ILO)

 
For Further Statistics
INE
Ministry of Labor and Social Security
For Further Information About the Labor Market
CES, The Economic and Social Council

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Working Conditions

Legal Weekly Duration
39 hours
Retirement Age
65
Working Contracts
The work contract is governed by legal provisions and to a lesser extent by collective agreements and individual negotiation.
The formality of the work contract, and hiring and firing conditions are extremely rigid.
Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

Minimum Wage
EUR 565 per month (source: ILO, 2011).
Average Wage
Gross average monthly wage of men: EUR 1,138 (source: ILO, 2009);
Gross average monthly wage of women: EUR 899 (source: ILO, 2009).
Social contributions
Social Security Contributions Paid By Employers: 23.75 %
Social Security Contributions Paid By Employees: 11%

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Social Partners

Social Dialogue and Involvement of Social Partners
There are 2 major Union confederations. The CGTP (very close to the Communist Party) which always very critical of and eager to challenge government measures, and the UGT (close to the Socialist Party and the Social-Democrats), a more moderate group, although it criticizes, but often manages to come to a consensus with the government. Negotiations usually take place at the Conselho Económico e Social for social dialogue between Employers' Confederations, the Government and Union Confederations. These discussions take place systematically at the beginning of each year, but also when important dossiers about labor law are discussed, as is the case at the moment. These last years, there has been many strikes and demonstrations against government austerity measures and economic policies.
Unions
CGTP
UGT
Unionization Rate
18.4%
Labor Regulation Bodies
Ministry of Agriculture
Confederation of Portuguese agricultural cooperatives (CONFAGRI)
Portuguese Agricultural Federation
Ministry of Labor

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Last Updates: January 2015