# Setting up webbased business



## fadodad (Jan 27, 2015)

Hello 

I'm moving to Porto soon and was hoping to setup a web based business.
Could anyone please point me in the direction of business resources?
In particular I am concerned about being able to operate before all paperwork/registraton/bank setup goes through. Does this take a long time?

My understanding is that I will need 5000 euros to setup as a sole trader, is that correct?

thank you!


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## siobhanwf (Mar 20, 2009)

:welcome: Fadodad to the Portuguese section of ExpatForum 

you might like to use the search facility to do a bit od research on previously answered questions . You will probably find all the answers you need. If not come back and ask away


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## fadodad (Jan 27, 2015)

Yeah, with 15 years web dev I'm fairly experienced in RTFM. The search facility on here is pretty much blunderbuss. 

BTW for a site with ads maybe worth knowing the phrase you used there is the quickest way to kill a thread.
I'll fish in other waters. thanks.


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## MickinUS (Jun 26, 2013)

fadodad said:


> Yeah, with 15 years web dev I'm fairly experienced in RTFM. The search facility on here is pretty much blunderbuss.
> 
> BTW for a site with ads maybe worth knowing the phrase you used there is the quickest way to kill a thread.
> I'll fish in other waters. thanks.


Can't argue with the man - the search feature here is bloody awful. You first get the Google ads and that's fine - site has to pay for itself. However, after that there seems to be no particular order in which the results come up. Some of the results are years old and in that case totally irrelevant.


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## TonyJ1 (May 20, 2014)

fadodad said:


> Hello
> 
> I'm moving to Porto soon and was hoping to setup a web based business.
> Could anyone please point me in the direction of business resources?
> ...


Like everything anywhere, it depends.

You can set up a company with previously approved names which is available at any commercial registry office - they keep a stock, though you might get a name which you don't particularly like, but this can be subsequently changed. Then, you make a banking account with a banking institution and deposit your seed capital and you will be ready to incorporate the company. Subsequently then you must advise the tax office of the incorporation of the company etc, and you are ready to run. Theoretically, all these steps can be done within 24 hours. My advice, employ a competent accountant and / or lawyer to guide you through these steps ao subcontract them to do it for you. It is a foreign country, and the laws have a different history and compliance to other countries.

There is also a so called simplified regime (which can also be applied to incorporated entities), which you can start immediately after giving notice (in the appropriate forms but can also be done at the tax office counters). There are specific rules where the turnover is below €10,000 (vat does not have to be charged). The simplified regime applies to turnover below €200,000. There are further complications in that there are social security obligations etc. I would suggest you obtain professional advice, as even for a local person, the ins and outs are complicated enough. Anyway, good luck with your venture.


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