Share Capital Threshold Abandoned

New Corporate Law Amendments for Limited Liability Companies in Portugal

Portugal starts the 2011^th with new amendments to corporate law: there is no more minimum share capital for private limited liability companies and depositing the determined share capital not shall be completed before the initiation of the economic activity but rather by the end of the first year of operations.

In the very end of last year, on the 30^th of December, 2010, the Council of Ministers of Portugal approved a Decree-Law which continues implementation of the ambitious bureaucracy simplification programme conceived by the actual Government and adopts new measures further simplifying company formation procedures in Portugal. The actual requirement of the minimum share capital to establish a limited liability company actually is EUR 5.000 was abolished and now members of association will have the right to determine the share capital of their company without any restrictions.