Open a Joint Stock Company in Portugal: Sociedade Anónima

A joint stock company in Portugal can activate as “Sociedade Anónima (SA)”, one of the most popular in this country. If you want to open a company in Portugal and select this type of structure, our local specialists can provide support with the formalities involved. In the following lines, you can find out information about joint stock companies in Portugal and the way of registration.

Quick Facts
Reasons to choose and register a joint stock company in Portugal	Great choice for large projects and investments in Portugal
Registration authority	Portugese Commercial Registry
Legislation	Company Act in Portugal
Minimum share capital	EUR 50,000
Requirements for JSC in Portugal	– reserving the business name, – preparing the Articles of Association, – registering for taxation and social security, – registerind a deed of incorporation, etc.
Management of a Joint Stock Company in Portugal	3 governance models: – board of directors (or sole director) and fiscal board or statutory auditor; – board of directors with an audit committee, plus a statutory auditor; – executive board of directors and general and supervisory board, plus a statutory auditor.
Business office required for a JSC in Portugal (YES/NO)	YES
Number of directors	A sole director is allowed only if the share capital does not exceed EUR 200,000; otherwise a board of directors is required.
Company secretary required	Only for listed joint stock companies in Portugal
Applying for TIF in Portugal	The NIPC (legal person identification number), which is also the company's tax number (NIF), is issued when the JSC is registered.
Board of executives meeting requirement	Board of directors: at least once a month unless the articles provide otherwise; general meeting: at least once a year
Corporate income tax rate in Portugal	19% in 2026 (15% on the first EUR 50,000 for SMEs; 13% in Madeira and the Azores)
Dividend tax rate in Portugal	A flat rate of 28%. However, taxpayers may choose marginal rates varying between 12.5% and 48%, plus a solidarity tax rate, as the case may be.
Time frame for registration	Around 2 weeks or less
Working with our Portuguese agents	Our team can manage the formation process of a joint stock company in Portugal and represent clients in any of the procedures involved.
A joint stock company in Portugal is also known as	Sociedade Anónima (SA)
Rules of joint stock companies in Portugal	Aimed for complex supervision to protect the shareholders, interests, and creditors of the company.
Business plan required when opening a JSC in Portugal	Not legally required for incorporation (may be requested by banks or for visa/licensing purposes)
Changes in a JSC in Portugal	The company’s existence is not affected by changes in membership/shareholders.
Bank account and deposit	At least 30% of the minimum share capital for a JSC in Portugal must be deposited at the time the bank account is opened.
Registration with the Social Security Service in Portugal	Mandatory
Shares of a JSC in Portugal	The shares must be registered (nominative) shares – bearer shares are banned since 2017 – and may be in paper or book-entry form. Certificates or accounting records are accepted.
Registration of shares of a joint stock company in Portugal	Book-entry shares are recorded with a financial intermediary or the central securities depository (Interbolsa); only listed companies trade on Euronext Lisbon
Mandatory condition for JSC in Portugal	The company must have an office in Portugal.
Registration of incorporation deed with a notary in Portugal	Not required since 2006 (a written contract with certified signatures suffices, unless assets requiring a deed are contributed)
Online incorporation of a JSC in Portugal	Through a dedicated platform, however, the process can be simplified with the support of our local agents.
Key considerations when incorporating a JSC in Portugal	– verifying and reserving the business name, – searching for an office premise, – opening a bank account, etc.
Recommended cities for business in Portugal	– Lisbon, – Porto, – Coimbra, – Braga, – Guimaraes, etc.
Reasons to choose Portugal for business formation	– favorable and stable business climate, – free access to other European markets, – great cost for office rentals, – appealing taxation, and more
Other services we offer to foreign customers	– accounting, – tax registration, – immigration-related services, – business relocation services, etc.

What are the main steps for setting up a joint stock company in Portugal?

International entrepreneurs can easily open a joint-stock company in Portugal, following a few important steps and procedures:

Incorporation can be done online, quite quickly, but the formalities can be managed by one of our local agents.
Choosing and reserving a business name is the next stage. The approval comes from the National Registry of Legal Entities in Portugal.
The documents for opening a joint stock company in Portugal are being drawn up. These are Articles of Association, with comprehensive information about the company, activities, shareholders, and general business rules.
It is necessary to open a bank account in Portugal, which will serve to deposit the minimum share capital and the future financial operations of the company.
Registration is mandatory for paying taxes in Portugal.

Therefore, if you are interested in opening a company in Portugal and more specifically a joint stock company, you can use the services offered by one of our specialists in the field.

Minimum capital and number of shareholders for JSC in Portugal

If you want to set up a joint stock company in Portugal, you must consider the minimum share capital for this business structure. This is EUR 50,000 and represented by shares with a minimum issue price of EUR 0.01. In this case, there is an obligation to pay at least 30% of the minimum share capital required on the date of establishment of the JSC in Portugal, with the rest of the money being deposited within a maximum of 5 years.

Regarding the number of shareholders for a joint stock company in Portugal, a minimum of 5 is accepted to form this business structure.

We remind you that we can guide our local and international clients regarding the establishment of a joint stock company in Portugal by managing the paperwork and related procedures. With the help of our specialists, you can also open a corporate bank account for depositing the minimum share capital for a JSC in Portugal.

What is the management structure for a JSC in Portugal?

The Company Law in Portugal stipulates that a joint stock company can benefit from 3 types of management, as follows:

board of directors (or sole director) and fiscal board or statutory auditor,
board of directors with an audit committee, plus a statutory auditor,
general meeting, board of directors, supervisory board, and company secretary.

if you want to know more about the JSC formation process in Portugal and the appointment of management in the company, we invite you to talk to our specialists. We have experience in company incorporation in Portugal and can guide you in any endeavor. Here is an infographic about joint stock company in Portugal:

Company secretary and directors of a joint stock company in Portugal

Opening a joint stock company in Portugal is an uncomplicated process, especially if you call for specialized help. In this approach, it is necessary to appoint directors, and in this case, there are no restrictions regarding their nationality or residence. However, it is necessary for them to have a TIN, i.e. tax identification number.

Please note that in the case of directors of a joint stock company, it is necessary to sign jointly with one other shareholder for binding powers at the time of incorporation.

As for the company secretary, only listed companies must have a company secretary, so if your joint stock company in Portugal is listed, you must consider this aspect. The founding documents need to mention, through a written resolution, that the company has a secretary.

You might want to know more about directors and company secretaries for joint stock companies in Portugal from our specialists. Plus, our video presentation describes joint stock companies that can be established in Portugal:

Why is Portugal an attractive destination for foreign investors

Opening a company in Portugal can come after market analysis and the factors related to good business development. Many foreign entrepreneurs prefer Portugal for the benefits brought by the taxation system, one of the most advantageous in Europe. Moreover, the fact that the formation of a company is flexible and easy is another benefit enjoyed by local and foreign entrepreneurs. Last but not least, businesses can also develop in Madeira, one of the free economic zones of Portugal, where the tax system is extremely appealing.

If you are interested in Portugal as a future investment destination, the following statistical information might attract your attention:

GDP growth in Portugal was 2.1% in 2024 and 1.9% in 2025 (INE).
Average consumer price inflation was 2.3% in 2025 (INE).
It is estimated that the unemployment rate will be around 6% in 2025 (5.8% in Q4 2025).

Besides support for opening a joint stock company in Portugal, our team can help you with other business-related matters. For instance, one can ask for our accountants in Portugal and benefit from the main services we provide. You may contact our local specialists for assistance in this sense. We can help you with company formation in Portugal and related procedures.

Gabriel Guimarães Barreto, Attorney at Law · 2 October 2026Gabriel has a law degree from Pontifícia Universidade Católica do Rio de Janeiro, and currently is a Master’s Degree candidate of Corporate Sciences at the University of Lisbon.