8 April, 2014

Companies & lic.

To start your business activity you will need to create a company and license its activity. Here are some useful links where you can get information.

The CFE - Centro de Formalidades e Empresas (Formalities and companies ), located in Avenida Arriaga, Funchal, can help you set up a company, make changes or amendments to the memorandum of association or statutes, dissolve companies, plus provide you with information on industrial licensing and the licensing of commercial activities. This information is available on the organisation website, on the links below:

Incorporation of the company

The choice of the legal form of the company will determine its operating model from the outset and has implications for both the owner/entrepreneur and the future development. You may choose one of the following legal forms:

  • - Limited liability company
  • - Single-person limited company (share company)
  • - Joint stock company

More informations here >>

Note: In choosing any of the types, you must take into account all the assets you want to allocate to the company, the liability for the company debts (personal property or assets of the company) and additionally, whether you wish to pursue that activity alone or with other partners.

Amendments to the memorandum or articles of association

The amendment to the articles of association may be the introduction, removal or modification of some of the clauses of the memorandum of association and must be the result of a resolution by all the shareholders, made according to the provisions set forth for each type of company. Pursuant to the terms of Decree-Law 76-A/2006 of 29 March (Portuguese law), all changes may be made by the Minutes of the General Meeting. Consequently, the public deed has become optional. On the page "manuals of procedures and minutes of company registration" you can consult the minutes approved by IRN for the different amendments.

Types of Amendments:

  • - Capital Increase
  • - Capital Reduction
  • - Transfer of shares
  • - Change of the firm’s name, the corporate purpose or headquarters (to another district)

More informations here >>

Dissolving and winding up companies

The dissolution of a corporation by resolution of the shareholders may be carried out according to one of the following ways:

  • - Immediate extinction (no assets or liabilities)
  • - Dissolution and liquidation (free assets or liabilities)
  • - Dissolution and liquidation by partition (with assets and without liabilities)
  • - Dissolution with liquidation (with assets or with assets and liabilities)
  • - Dissolution with liquidation by global transmission (with liabilities)

More informations here >>

Business License

Check the industrial licensing or licensing of commercial activities in order to obtain information suited to your business idea. >>

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