Portugal
Portugal - it is a developed country with an advanced economy and high living standards. Additionally, it ranks highly in peacefulness, democracy, press freedom, stability, social progress, prosperity and English proficiency. A member of the United Nations, the European Union, the Schengen Area and the Council of Europe (CoE), Portugal was also one of the founding members of NATO, the eurozone, the OECD, and the Community of Portuguese Language Countries.
The national currency of Portugal is the euro (€), which replaced the Portuguese Escudo, and the country was one of the original member states of the eurozone.
Major state-owned companies include: Águas de Portugal (water), Caixa Geral de Depósitos (banking), Comboios de Portugal (railways), Companhia das Lezírias (agriculture) and RTP (media). Some former state-owned entities are managed by state-run holding company Parpública, which is a shareholder of several public and private companies. Among former state-owned companies recently privatized are: CTT (postal service) and ANA (airports).
Portugal is a highly advanced country in terms of technology. The country grabs a rank in 7th position among European nations for having advanced telecommunications services. The internet service is highly remarkable in the country and is available in almost all country corners.
Companies listed on Euronext Lisbon stock exchange like EDP, Galp, Jerónimo Martins, Mota-Engil, Novabase, Semapa, Portucel Soporcel, Portugal Telecom and Sonae, are amongst the largest corporations of Portugal by number of employees, net income or international market share. The Euronext Lisbon is the major stock exchange of Portugal and is part of the NYSE Euronext, the first global stock exchange. The PSI-20 is Portugal's most selective and widely known stock index.
In the last decade, in addition to a greater incidence and diversification of services in economic activity, there was also a significant change in the pattern of specialization of the manufacturing industry in Portugal, leaving the dependence on activities of the traditional sectors to a situation in which new sectors, of greater technological incorporation, gained weight and a dynamic of growth, highlighting the automotive and components sector, electronics, energy, the pharmaceutical sector and the industries related to the new information and communication technologies.
Portugal offers ready-to-develop sites for businesses. Many business parks, complexes, and malls provide property to establish a business in the country. There are many airports and highways which connect the country and make transportation easy and efficient.
The adjustments needed for Portugal to be included in the founding group of countries of the European single currency have had a substantial effect on the Portuguese economy.
The resulting economic stability has led to increased foreign investment. Greater economic stability, coupled with the potential of the tourism industry, has been decisive for investment in Portugal.
In addition, Portugal’s traditional presence in Africa and Brazil gives it an advantage in the establishment of commercial contacts and business opportunities in these expanding markets.
The top five countries investing in Portugal were Netherlands, Spain, Luxembourg, United Kingdom and France, representing 72.2% of the total value. Outside the European Union, Brazil, China, Switzerland and Angola close the top ten of the largest foreign investors in Portugal.
The central monetary authority that oversees banks in Portugal is Banco de Portugal. It is a member of the European System of Central Banks (ESCB). Portugal, a member of the European Union, operates a modern banking system that offers advanced financial products. In fact, it oversees one of the world’s most advanced interbank networks.
Portugal’s government provides highly attractive and business-friendly tax policies. The tax credits are between 10% to 20%. The corporate tax and VAT are comparatively lower than in other countries.
One can establish an offshore company in the country which has more tax relaxation. The ‘non-habitual resident program’ has many benefits for tax amounts.
This helps foreign companies and investors to develop in a country with less capital power. Moreover, for small businesses, the tax rate is comparatively lower, making it easier to grow.
In Portugal, there are two meanings of 'intellectual property' in both a broad and a strict sense. The former covers industrial property – patents, models, trademarks, logos, trade secrets, designations of origin and geographical indications – and the latter encompasses copyright and related rights. Therefore, for the sake of terminological simplicity, we will adopt the broad meaning of the expression throughout this chapter.
In the Portuguese legal system, provision is made for both more common intellectual property rights – patents, models, trademarks, logos, designations of origin, geographical indications and copyright – and less common rights, such as topographies of semiconductors and plant variety rights in the law.
The Portuguese legal system is part of the civil law legal system, also called the continental family legal system. The main laws include the Constitution (1976, as amended), the Portuguese Civil Code (1966, as amended) and the Penal Code of Portugal (1982, as amended). Other relevant laws are the Commercial Code (1888, as amended) and the Civil Procedure Code (1961, as amended).
The supreme national courts are the Supreme Court of Justice and the Constitutional Court. The Public Ministry, headed by the Attorney General of the Republic, constitutes the independent body of public prosecutors.
Our law firm VLO provides legal services for corporate and private clients in Portugal. These services include mergers and acquisitions, business and debt restructuring, tax and tax disputes, corporate disputes, investments, bankruptcy, litigation and arbitration.
If you have questions, please us right now.
E-mail: vlolawfirm@gmail.com
The national currency of Portugal is the euro (€), which replaced the Portuguese Escudo, and the country was one of the original member states of the eurozone.
Major state-owned companies include: Águas de Portugal (water), Caixa Geral de Depósitos (banking), Comboios de Portugal (railways), Companhia das Lezírias (agriculture) and RTP (media). Some former state-owned entities are managed by state-run holding company Parpública, which is a shareholder of several public and private companies. Among former state-owned companies recently privatized are: CTT (postal service) and ANA (airports).
Portugal is a highly advanced country in terms of technology. The country grabs a rank in 7th position among European nations for having advanced telecommunications services. The internet service is highly remarkable in the country and is available in almost all country corners.
Companies listed on Euronext Lisbon stock exchange like EDP, Galp, Jerónimo Martins, Mota-Engil, Novabase, Semapa, Portucel Soporcel, Portugal Telecom and Sonae, are amongst the largest corporations of Portugal by number of employees, net income or international market share. The Euronext Lisbon is the major stock exchange of Portugal and is part of the NYSE Euronext, the first global stock exchange. The PSI-20 is Portugal's most selective and widely known stock index.
In the last decade, in addition to a greater incidence and diversification of services in economic activity, there was also a significant change in the pattern of specialization of the manufacturing industry in Portugal, leaving the dependence on activities of the traditional sectors to a situation in which new sectors, of greater technological incorporation, gained weight and a dynamic of growth, highlighting the automotive and components sector, electronics, energy, the pharmaceutical sector and the industries related to the new information and communication technologies.
Portugal offers ready-to-develop sites for businesses. Many business parks, complexes, and malls provide property to establish a business in the country. There are many airports and highways which connect the country and make transportation easy and efficient.
The adjustments needed for Portugal to be included in the founding group of countries of the European single currency have had a substantial effect on the Portuguese economy.
The resulting economic stability has led to increased foreign investment. Greater economic stability, coupled with the potential of the tourism industry, has been decisive for investment in Portugal.
In addition, Portugal’s traditional presence in Africa and Brazil gives it an advantage in the establishment of commercial contacts and business opportunities in these expanding markets.
The top five countries investing in Portugal were Netherlands, Spain, Luxembourg, United Kingdom and France, representing 72.2% of the total value. Outside the European Union, Brazil, China, Switzerland and Angola close the top ten of the largest foreign investors in Portugal.
The central monetary authority that oversees banks in Portugal is Banco de Portugal. It is a member of the European System of Central Banks (ESCB). Portugal, a member of the European Union, operates a modern banking system that offers advanced financial products. In fact, it oversees one of the world’s most advanced interbank networks.
Portugal’s government provides highly attractive and business-friendly tax policies. The tax credits are between 10% to 20%. The corporate tax and VAT are comparatively lower than in other countries.
One can establish an offshore company in the country which has more tax relaxation. The ‘non-habitual resident program’ has many benefits for tax amounts.
This helps foreign companies and investors to develop in a country with less capital power. Moreover, for small businesses, the tax rate is comparatively lower, making it easier to grow.
In Portugal, there are two meanings of 'intellectual property' in both a broad and a strict sense. The former covers industrial property – patents, models, trademarks, logos, trade secrets, designations of origin and geographical indications – and the latter encompasses copyright and related rights. Therefore, for the sake of terminological simplicity, we will adopt the broad meaning of the expression throughout this chapter.
In the Portuguese legal system, provision is made for both more common intellectual property rights – patents, models, trademarks, logos, designations of origin, geographical indications and copyright – and less common rights, such as topographies of semiconductors and plant variety rights in the law.
The Portuguese legal system is part of the civil law legal system, also called the continental family legal system. The main laws include the Constitution (1976, as amended), the Portuguese Civil Code (1966, as amended) and the Penal Code of Portugal (1982, as amended). Other relevant laws are the Commercial Code (1888, as amended) and the Civil Procedure Code (1961, as amended).
The supreme national courts are the Supreme Court of Justice and the Constitutional Court. The Public Ministry, headed by the Attorney General of the Republic, constitutes the independent body of public prosecutors.
Our law firm VLO provides legal services for corporate and private clients in Portugal. These services include mergers and acquisitions, business and debt restructuring, tax and tax disputes, corporate disputes, investments, bankruptcy, litigation and arbitration.
If you have questions, please us right now.
E-mail: vlolawfirm@gmail.com
