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Partnerships

Partnerships are defined as associations between two or more parties conducting business in common with the objective of sharing profits and losses.
In Portugal there are special programs promoted by IAPMEI and Ministry of Economy with the purpose of stimulate partnerships focused specially in small and medium size companies. The PRIME Office is an internal department of Ministry of Economy responsible to assist, monitor and coordinate these programmes assuring the accomplishment of specific National and European legislation.

Joint ventures
A joint venture involves co-operation on a project between two or more parties, where they may agree to share expenses or income, or both, derived from the project. Different forms of joint ventures may operate in Portugal, such as participating (unincorporated) associations or consortia formed to carry out specific purposes. The Portuguese legislation also foresees the constitution of domestic groupings (ACE -Agrupamento Complementar de Empresas) and groupings between companies based in different EU member states (EEIG - European Economic Interest Grouping).

Establishing a corporation
As a result of the simplification program (named SIMPLEX) that has been introduced by Government in 2007, the time required to incorporate a company has been substantially reduced. Under the new procedures it is no longer necessary to have a notary deed to incorporate a new company; today it is possible to set up a company in one single day.

Business structure Place of business or branch Taxation Corporation tax

 

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