New business? Pros and cons of the company on the spot

“Empresa na Hora” is a service that allows the creation of a company easily and quickly, in one place.

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This is the method chosen by many entrepreneurs who want to speed up the time-consuming and complicated process of starting a business. Let's see what are the steps to open a business with Empresa Na Hora, and what are the advantages and disadvantages compared to the traditional method.

New business with the company on the spot

Want to start a business? Will have to open a company. You can start by going (as well as all members) to one of the service points across the country and islands.

Choose the firm or brand

When you arrive at an Empresa Na Hora branch, you will have to choose a name for your firm. You will be provided with a list of pre-approved names, which can be consulted on the Empresa Na Hora website or at the counter. You can even book a name, with availability subject to demand. There is the possibility of automatic approval of the denomination composed by the firm-name of the partners who are natural persons – such as André&João Faria, José Teixeira Martins, etc.

If you want to give another name that is not on the lists, you can open your company right away with a name previously approved by the RNPC. The request for the certificate of admissibility of denomination has a cost of €75, or €150 if the request is urgent.

It can also add to the pre-approved firm an expression referring to the object of the company, such as “computer consultancy”.

Choose the type of company

To start a company right away, you will have to choose one of three types of company:

• Single Person Society for Shares;

• Society by Shares;

• Anonymous society.

In the public limited company you will have three options of pre-approved articles of association, in the private limited company, two, and in the unipersonal private limited company you will have only one option. All of them can be consulted on the website of the Empresa Na Hora.

Necessary documents

Upon incorporation of the company at the time, and as a natural person, you must present:

• identification document – citizen card, identity card, passport, driving license or residence permit;

• Taxpayer card.

If the company's capital exceeds 15 thousand euros, the driving license and residence permit are not accepted as identification documents.

In the case of a legal person, all members must go to the same counter and present:

• identification document of each one;

• taxpayer card of each one;

• company card or corporate card or the respective access codes,

• Minutes of the Meeting that grants powers to constitute a company.

Cost and Payments

Starting a business on the spot has a base cost of €360. This price includes the commercial registration and publications associated with the incorporation of the company, and must be paid immediately.

If the company's capital is not made up only of cash, this value must be added to €50 for each immovable property, share or shareholding, €30 for each movable asset, and €20 for each vehicle with a cylinder capacity not exceeding 50cm³.

If you decide to register a brand, you will have additional costs of 200€ for each brand for a class of services, and 44€ for each additional class.

So, if you want to set up a company and register a brand for the “office work” class, having an office and a service car, the cost of setting up a company at the time will be €630.

Advantages and disadvantages

pros cons

• You can set up a company in a short time – because it doesn't even take an hour;

• In a single service location;

• Need few documents;

• Low costs; • Name and brand limited to pre-approved names;

• Pre-approved articles of association are restricted;

If you think that the pros outweigh the cons in using the company service at the time and decide to start a company, congratulations, you are an entrepreneur!

Jasmin, to boot with the right foot

The Jasmin, billing software expert management, is the best partner for a new business. It is completely adapted to the digital age and today's leader, as being fully cloud it allows working from anywhere, invoices in multiple currencies, opening the way to globalization and has available the KPIs that any entrepreneur needs to measure the evolution of their business. Manage the entire business by integrating with the main apps on the market.

Integrate financial, accounting, marketing, team management, communication... seamlessly, easily and intuitively into your company's management. And the best part? It is certified by AT, so the response to Portuguese taxation is assured. All this in a free management software? It's possible, with Jasmin.

Source: https://propertynews.pk/