People that move to Portugal fall into two groups:
- People who think that a meditative walk with a view of the ocean is the best way to get things done here,
- And those who have already tried to create a bank account.
I thought I was in the first group when I decided in starting a business in Portugal. Order is what I like, and I know how to handle papers. Folder with lists, translated terms, and helpful websites. I’m the type of person who studied the instructions ahead of time and thought it was a good thing.
I thought I was ready.
Spoiler alert: I was as ready as a tourist who came to the Alps in sneakers “because I saw a picture and the trail looked fine.”
The first steps are at the bank’s door.
The first few days went really well. I leased a tiny apartment in Arroeiro, went to the beach, sipped coffee on the patio, and walked more than I had in the prior two years. You feel like you’ve been living in Portugal for a long time after the second day.
But everything changed as soon as I decided in starting a business in Portugal.
I strolled into the bank with a lot of confidence. In Europe, this is normally a quick process: show your passport, sign a few things, and you’re ready to leave.
But here, they smiled at me and remarked in a calm voice: “You need the director’s NIF, the founders’ NIF, proof of address, a description of the business, the company’s registration documents, the accountant’s tax number, and maybe proof of where the money came from…”
“And the company itself must already be registered” as if by mistake. When I told the management that the company wasn’t open yet, they were polite but strong in their response: “Then sign it up first. Then come back to us.”
At that point, my checklists’ folder didn’t seem that impressive anymore.
The bureaucratic waltz: corporation → bank → company → bank
To get certain papers, you need to already have some papers. To get those, you need the first ones. It makes sense on paper.
In real life, it’s like attempting to buy a bike when you already have one. I attempted to think logically. I made a list of steps. After that, I rewrote it. I then discovered that lists don’t help when the information on the internet isn’t clear.
Google says, “I can do this; I just need to figure it out.”
For a week, I lived like this:
- There are 42 open tabs.
- “How to start a business in Portugal as a foreign entrepreneur is what you typed in.”
- Mood: “I’ll figure it out”
- Too much coffee
I read articles, watched videos, and made a list of the names of government agencies for starting a business in Portugal.
What’s the Issue?
The more I read, the more questions I had:
- Do I need a director in my area?
- Can I open a bank account from a distance?
- What if one of the founders isn’t in Portugal?
- What papers need to be apostilled?
- And why does it sound like an accounting journal is from the 1800s here?
You know that feeling when you look up a subject on Google and get five responses, and then you don’t trust anything you thought you knew? It was me, trying to learn starting a business in Portugal.
Talks, meetings, and test runs
- I choose to do the right thing and talk to people.
- I asked a few friends, and they all told me various things.
- I phoned two businesses. One didn’t pick up, and the other said they could meet with me in three weeks.
- I went to a law office. The people there were really pleasant, but it sounded like they were telling me something for the first time.
- One ‘specialist’ on the other hand, promised everything in two days, which made me suspicious right away. When it comes to these kinds of things, ‘too easy’ is usually not what you need.
I slowly came to understand that in Portugal, it’s not enough to know how things work; you also need to know who to trust with the process.
The Moment of Change!
The most important moment was in the morning when I was at a government office with a ticket that was moving so slowly that I had time to ponder about what life meant.
I looked about at the individuals around me. Some were quietly going through papers, as if they had done it before. Others were nervously checking their email, and still others were just sitting and staring out the window, thinking about life.
And all of a sudden, I understood something very simple: I don’t want to live like this for the next few months. I came here to start a business, not to learn how to navigate administrative mazes.
Solution: Give it to Someone Else
The bank gave me another ambiguous answer and told me “until X happens, we won’t be able to do it” I finally stopped acting like I was the only one who could help.
I wrote to a buddy who has lived in Portugal for a long time and asked, “Who helped you?”
He gave me some contacts and said: “These guys don’t just fill out forms; they actually run the process.”
When I went on the URL https://firstlegal.group/services/business-registration/, I saw information written in plain English for the first time.
“Steps that are easy to follow. Deadlines that matter. Responsibility.”
No ‘we recommend,’ No ‘We will send you,’ but we will do it.
I wrote, and for the first time in the whole procedure, I got a clear, organized, and calm answer. No magic, no claims of ‘super-fast’ results, but “clear: what will be needed, how everything will happen, and how long it will take.”
When order takes the place of chaos, things got shockingly easy:
I sent the papers, checked the information, signed a few powers of attorney, and got updates along the way. No lines, no returns with ‘add more paper’ and no odd language.
While this was going on, I was putting up my office, traveling around the neighborhood, picking an office, evaluating the market, talking to local business owners, and surfing. To put it another way, I was doing what I came here to accomplish.
What I learned (and why I didn’t do it straight away)”
- Portugal is not hard; it’s simply different. You have to respect that the system here moves at its own pace.
- “I’ll figure it out myself is a terrific way to test someone’s character, but it doesn’t help the cause.”
- You can spend a month waiting in line and posting on forums, or you can choose the perfect team once and live by the ocean while they do all the work.
- The most crucial factor when registering a business in Portugal is getting help, not advice.
- Paperwork takes up more time than you realize. Time is a resource.
Now: The business is legal. The account is active. There is an accountant. The reports are being made.
I am already holding meetings, looking for commercial real estate, and arranging how the product will be set up. Now that I walk by the bank, I don’t feel anxious anymore; I just feel a little proud and relieved.
