Portugal: a transforming economy

A sunny outlook as it modernises, stabilises and grows

Why Portugal?

Portugal is a developed, high-income country with a sunny outlook. Shaken by the global financial crisis - resulting in an EU bail-out in 2011 - the country has since taken great strides to modernise and stabilise its economy, increase competitiveness, and make it easier for companies to invest and do business.

Among developments, government has enacted cuts to the corporate income tax rate, legislative reform, and financial and tax incentives for R&D activities and investment projects that boost innovation and job creation. These measures are already paying off, with an increase in investments and exports, and a strong near-term outlook (according to the IMF, June 2017). The country is now placed 29th in the World Bank’s Doing Business ranking (2018).

As Portugal’s economy continues to transform, business services and high-tech are overtaking traditional industries such as textiles, wood/paper products and cork (Portugal is the world’s leading cork producer). Key industries today include automotive and components, information and telecommunications, biotechnology, pharmaceuticals, agriculture and fishing.

Several science parks have been established across the country, with resident companies taking advantage of support services ranging from financial and legal advice to marketing and technological support.

The country’s workforce has a high level of education, especially in business-oriented areas, and 61% of Portuguese people speak at least one foreign language. English is mandatory from elementary school and 78% of students learn two or more foreign languages.

Portugal boasts excellent infrastructure, including world-class road networks, and it is ranked in Europe’s top 10 for connectivity (both fibre connections and high-speed fixed broadband subscriptions).

Bordered by Spain and the Atlantic Ocean, the country is not only an attractive destination for investment; its rich culture, nature and coast attract around 13 million international visitors each year, and the tourism sector continues to grow.

Safe and sunny, with a high standard of living and world-class public health services, Portugal is also a great place to live and retire.

Our core areas of expertise

TMF Group in Portugal has the expertise and experience to help foreign companies establish and build successful operations in Portugal.

Our experts take care of administration and non-core elements, so you can focus on growing your business. We work with you to help reduce risks, increase efficiency and strip out any unnecessary costs.

Get in touch with us to discuss how to grow your business in Portugal.

Our full range of services include:

  • Accounting and Tax services: We take care of local statutory bookkeeping, full consolidated accounts and management reporting to relevant local and international standards. We also help you manage your tax and reporting obligations.
  • Corporate Secretarial services: We can take care of recurring compliance filings, manage routine corporate changes and retrieve any official corporate documents from official registries.
  • Governance services: We help you stay compliant, manage your risk and regulatory obligations, including your filling requirements for CRS, FATCA, KYC and BEPS related regulations.
  • HR and Payroll services: We help you to apply and implement international policies in employment contracts and handbooks, and pay your staff in compliance with local law.
  • Real Estate Investment services: Our expertise covers work in multiple jurisdictions, including international holdings and administration of property companies, along with fund administration.

To find out exactly how we can help you, speak to our experts

We deliver tailored solutions to each precise location that allow you to operate smoothly from day one.

Make an enquiry

Request a country profile

Learn all the details that you need to be aware of when entering a market.

Request a country profile