We invite you to consider the opportunity to open a company in Portugal and a corporate account in a Mauritian bank. This offer will be especially interesting for those who would like to have an EU-registered company while doing business with African and Asian companies.
If this is not exactly in the focus of your interests, you are welcome to read other articles on this website and find more attractive offers. You can also write to us to email@example.com for a free consultation. We will be delighted to answer your questions.
Without doubt, Portugal is a country that is worth visiting. Its capital city of Lisbon is the most ancient city in the Western Europe. The place is first mentioned in 868 A.D.
Portugal is not a very large country but it is located right on the Atlantic coast and due to its residents’ zeal for traveling, spirit of adventure, and entrepreneurial temper, the country was a strong sea power in the Middle ages. Much smaller than Spain in size, Portugal matched its neighbor in terms of the sea explorations. America was discovered by a Portuguese citizen, as you certainly know.
Today, Portugal welcomes tourists and foreign investors. Its progressive tax system and advanced banking services attract foreign business people from all parts of the world. Having an office in Portugal is both lucrative and safe and having a company registered in an EU member state will bring many rewards too obvious to talk about.
Main advantages of establishing a company in Portugal:
- Ten business days is enough to register a new company in Portugal (provided that you choose one of the company names that are preapproved by the Registrar);
- Portugal has spotless reputation in the banking world;
- Renting an office for your company in Portugal is simple and affordable;
- Portugal is one of the founding EU members and its reliability is unquestionable;
- Economic reforms are going on continuously in the country and they contribute to the business development greatly;
- Portugal offers special conditions to foreign investors, especially large ones;
- It is possible to establish a company in Portugal with a single person on its staff;
- The company registered capital can be as small as one euro.
Documents that have to be submitted for company registration in Portugal
As a rule, the following documents are required for opening a business company in Portugal:
- A passport copy and a utility bill for the last quarter of the year to serve as proof of your residential address;
- A Draft of the Articles of Association for your prospective company.
Yes, supplying these documents will suffice for registering a company in Portugal. However, these documents will have to be translated into Portuguese and legalized with a local public notary. Then you can count on establishing a company with the most popular form of ownership, namely, a limited liability company whose Portuguese acronym is LDA.
In addition to that, you must necessarily acquire a Portuguese Tax ID for yourself (or your nominee) and for your company. If you are an EU resident, this is not going to be a problem at all. If you come from another part of the world, this procedure will take a little more time but the task will remain performable anyway.
There are two more obligations that your company registered in Portugal will have: it shall keep financial records and maintain a registered legal address. We will be happy to assist you with drafting the Articles of Association for your company as well as renting a legal address for it and providing accounting support. You are welcome to apply for these services by writing to firstname.lastname@example.org .
The costs involved in registering a company in Portugal
When registering a business company in any country of the world, you are bound to find certain bureaucratic requirements that may look a bit strange to you. One peculiarity that Portugal has is its jealous attitude to the company official name. There are two options you can choose from and both the length and the cost of the registration procedure will depend on your choice.
You can use one of the preapproved company names that the Portuguese Commercial Registry will offer. In this case, the registration will be completed within ten days. Or you can register the company under the name that you have invented yourself. In this case, the registration is going to take fifteen more days (as the Registrar has to approve the unique company name first) and besides, it is going to cost you 1,200 EUR more to set up a company in Portugal. The choice looks obvious to us but the final decision rests with you, of course.
The costs of company registration in Portugal include the following:
- State duty payable to the Commercial Registry;
- A package of apostilled corporate documents for bank account opening outside Portugal;
- Tax ID acquisition.
The overall price of the combined service that we are advertising here also includes the following items:
- Accounting support for three months;
- Local company representative services (required for tax purposes) for three months.
Remote corporate account opening in Mauritius for your Portuguese company
A bank account in Mauritius will open fantastic perspectives for your Portuguese company. We will gladly open a corporate account with this bank for you remotely. We have been in contact with this bank for several years now and we know what it takes to set up an account there.
Banks in Mauritius
A corporate account with a Mauritian bank will bring many benefits to a modern business company. This possibility should be especially advantageous for those entrepreneurs who are engaged (or who are planning to engage) into international trade or investment activities.
Mauritius is an island (or rather, a group of islands) to the east of the African continent. It is one of the best-developed states in the region: the Mauritian GDP per capita is second only to that of Seychelles. The banks in this country have been providing stable services to businesses since the beginning of the 19th century. They keep up with all the modern trends in the area and they are constantly improving their service standards.
The Mauritian banking system is a replica of the traditional English model. The main regulating institution there is the Central Bank that has been in operation since 1967. It licenses private banks (both domestic and foreign) that conform to the strict standards. It also regulates the activities of non-banking depository institutions.
The fruit that a foreigner can reap when setting up a bank account in Mauritius
The Mauritian bank that we are promoting here has been functioning as a full-fledged commercial bank for over ten years already. It is part of a huge world-renown banking corporation that consists of over a hundred business organizations located in the region. This conglomerate is proud to be the first African corporation to establish close ties with Asian companies. In particular, it has divisions in Hong Kong and mainland China.
This bank is worth choosing to service your Portuguese company because of its client need focus, high quality of the services that it provides, and its effectiveness in the highly competitive banking sector in Mauritius.
Advantages of setting up a corporate account in the Mauritian bank:
- Fair service prices;
- Remote access to the account (online and mobile banking is available);
- A wide range of banking products;
- High-quality support in the English language.
Who can open an account with this Mauritian bank
Practically any foreign company can use the services that this bank offers. However, there are some limitations that need to be borne in mind. These limitations have been imposed in order to lower the risks of being involved in money laundering or terrorism financing operations. Below please find out who cannot obtain services from the Mauritian bank.
Limitations on clients’ nationalities
The citizens and legal residents of the following countries will not be able to set up an account with this bank:
- The sanctioned countries;
- The United States of America.
Limitations on the types of company activities
When applying for services to this bank, you will have to disclose to the bank administration the types of economic activities that your Portuguese company is (going to be) engaged in. Companies involved in the following kinds of activities will be denied service by this bank: weapon, tobacco, or pharmaceuticals production and trade; goods made of wood; online dating and other adult services; mining of natural resources; diamonds; chemicals; furs; bitcoins and other virtual moneys; gambling and online casinos; derivatives and options trade; hedge funds; FOREX; money exchange; online trading including marketing and electronic commerce.
A non-resident corporate bank account with the Mauritian bank: the tariffs
The bank in Mauritius offers top-quality services, affordable prices, and guaranteed stability to the clients. With our assistance, you can start using these services after only a very short time.
What is important is that the Mauritian bank keeps in step with the times and implements most up-to-day technological solutions. The clients do not have to visit the island in order to solve most issues. The best part of operations can be performed remotely – via the Internet or a smartphone.
Available transaction currencies
Your corporate account is going to be a multicurrency one. The bank performs transactions in the following world currencies: USD, EUR, GBP, AUD, CAD, CHF, HKD, SGD, CNY, INR, JPY, and ZAR.
Available types of accounts
Business clients can set up the following types of accounts with this bank:
- Call Deposit Account;
- Term Deposit.
Available types of bankcards
The bank clients can be issued the following plastic cards:
- Debit Master Card;
- Union Pay card.
The bankcards from the Mauritian bank will let you withdraw cash from ATM’s all over the world and pay for goods and services in retail chains.
Account opening and service conditions
The foreign corporate client has to deposit minimum US$ 5,000 into the account within one month from the date of its opening in order to be able to use it. If you establish multiple accounts with this bank, only one account has to have this sum on it. If the minimum required deposit is not made within one month, the account will be closed automatically without any notice.
The bank’s method of ensuring the clients’ reliability is video-conferencing with them. A bank officer will want to have a video call with the client in the following situations:
- Before opening the account.
- On receipt of a domestic or international transaction request:
- When the first transaction is made;
- When the transaction amount exceeds US$ 50,000;
- In some extraordinary situations when some clarifications or confirmation documents are required;
- When a certain transaction arouses suspicions;
- In the situation of a random transaction check regardless of its amount.
- Changes/ additions to the contact information are introduced.
- A debit card is activated.
- When the first payment with the plastic card is made or when the wrong PIN is entered.
- Internet banking is activated.
A video-call is not required in the following cases:
- When a video-call has been made in the past (for instance, when the account was being opened, when some contact information changes were introduced, when the debit card or the Internet banking were activated, and so on).
- Affiliated offshore business management companies are located on Mauritius.
- If a bank manager has met the client in person once.
- If there have been long-standing relations with the client or on a personal agreement.
- If the bank administration finds that the video-call is not necessary.
Call Deposit Account
|Account opening fee||US$ 100|
|Minimum initial deposit (and minimum security deposit)||US$ 5,000|
|Monthly account maintenance fee (it is not charged if the minimum required security deposit rule is followed)||US$ 50|
|Incoming payments||Free of charge|
|Outgoing payments via the Internet bank||US$ 60, fixed rate|
How you can open a corporate account with the Mauritian bank
In order to open an account with this bank you have to use the services of an intermediary company such as a Commerce Service Provider, A Company Registration Agency, an Offshore Management Company or a legal firm. This organization will have to introduce you to the bank.
Offshore-Pro Group is a certified introducer to this Mauritian bank. We can set up an account for you without your personal presence in Mauritius. What you will have to do is supply the necessary application documents and have a video-conversation with the bank officer. The vide-call can be made by use of the following applications: Skype/ WhatsApp/ Viber/ Zoom/ WeChat/ Botim.
The application documents will be accepted only from an authorized representative. The application status will also be communicated to the authorized representative. In case any documents are missing, the representative will be informed about it.
First, document copies shall be submitted to the bank. Document originals have to be supplied within two weeks since the day when the account is opened.
A corporate bank account for a foreign company can be opened on submissions of legalized document copies that are scanned and sent to the bank via e-mail. However, courier services have to be used to deliver the document originals to the bank.
Account opening stages
Stage 1: Preliminary application evaluation. It is performed on the basis of the bank form that you will have to fill out. It should contain the information about your business profile and the nature of the intended transactions for which the account is going to be used. After the preliminary application approval, a video-call shall be scheduled.
Stage 2: The video-call (via Skype/ WhatsApp/ Viber /Zoom /WeChat /Botim). As soon as the client is identified with the help of a video-call, the bank will request courier delivery of the document originals.
Stage 3: As soon as the application for services is approved, the client has to transfer the account opening fee of US$ 100 to the bank. We will provide the bank account details where you can transfer the account opening fee. When the bank receives the fee, you will obtain your account number and other account details.
The document package required for setting up a corporate account with the Mauritian bank
All the document copies (including the ones that are submitted to the bank electronically) shall be properly legalized as true copies of the original documents. This does not concern the bank forms though. The documents shall be written in English or French, an official language of Mauritius. In case they are made in another language, they have to be translated by a sworn translator and the translations have to be apostilled.
The list of required documents:
- Company Registration Certificate;
- Certificate of Good Standing if the company has been in operation for over one year;
- Memorandum and Articles of Association;
- Directors and Shareholders details (major shareholders only: those who have 20% or more of the company shares);
- Passports/ ID cards for all authorized account signers: company beneficiaries, directors, major shareholders, and other UBO’s (Ultimate Beneficiary Owners);
- Proofs of addresses for al authorized account signers;
- Company organogram (if available);
- Certified business plan of the company;
- Global business license 1 or 2 (if applicable);
- Detailed personal information (a CV) of the ultimate beneficiary owner (owners) including business details.
The terms of the corporate account opening with the Mauritian bank
A non-resident of Mauritius has to fill out the bank forms and supply the required document scans in order to set up a corporate bank account in the country. We will supply the bank forms to you and help you complete them in case you have any difficulties.
If all the application documents are in good order, the account opening will take between two and ten business days.
The procedure of setting up a company in Portugal and a bank account in Mauritius
- If you would like to have a business company registered in Portugal and a corporate bank account in Mauritius, please apply for this combined service by writing to email@example.com.
- Supply all the documents required for establishing a company in Portugal and a bank account in Mauritius.
- We will have to examine the documents carefully in order to determine if we are able to provide this service to you. We do not bill our customers unless we are sure that we can be of assistance to them.
- If we can provide the service in your personal case, you will have to cover its cost and pay us 6,299 euros. We accept payments made by a bank transfer or a pay card and also those made via such payment service providers as WebMoney, PayPal, or Western Union. If you want to pay us in Bitcoins, we will accept that too.
- When we receive all the documents from you and the full payment, we will start the procedure of company incorporation in Portugal and then bank account opening in Mauritius. After less than three weeks, you will have your EU company and your African bank account fully functional.
If you need any additional information or any clarifications, please contact us via e-mail firstname.lastname@example.org. We will be prompt in replying your questions.