# Costs of a PT company?



## travelling-man (Jun 17, 2011)

Am I right in saying that if one sets up a company to trade here in PT one automatically has to pay a substantial monthly National Insurance payment to the PT Govt?

If so, is there any way to avoid that and/or am I allowed to trade here in PT under the auspices of a UK company?

FWIW, I wouldn't expect it to be much of a turnover (at least initially).


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## canoeman (Mar 3, 2011)

You can trade with a Portuguese company what Social Security you pay depends on how companies set up and how your employed/earn money, but Portuguese Social Security is dearer than UK.
This is a good place to start for information on Portuguese companies.

If you trade here in PT under the auspices of a UK company, then you must still make a return here, you'd be liable to UK tax and NI and create lots of issues regarding payment or cover for Portuguese Social Security and Health care.

It really is worthwhile getting good professional advice from an Account who understands *both* UK & Portuguese Taxation and Social Security

I wouldn't expect it to be much of a turnover (at least initially) everyone says that but if you don't set yourself up correctly from the start it backfires later


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## Pablo91 (Jan 30, 2013)

What is the area and the volume of business expected? I think the first year will not be charged, only at the end of the year as turnover, and the next year will be calculated based on the income of the previous year, I think. But I think it is best to contact you to organize professional accounting and paperwork. I know some good professionals in central Lisbon and that you can specify.

Regards


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## travelling-man (Jun 17, 2011)

I've had a good accountant recommended to me here in PT & already have a good on in the UK so will be in touch with them in the next few days but am still looking at other options.

To be honest, I've no idea how much demand/turnover there will be but initial investment probably wouldn't be too scary so I'm not too bothered about that


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## canoeman (Mar 3, 2011)

Friends doing a similar exercise had problems with this 2 pronged approach as neither accountant was really up to speed on living in Portugal and "working" through a UK company both accountants giving conflicting advice as they didn't know enough about the other countries NI and tax laws


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