Verify the availability and reserve the proposed company name
Agency: Commercial Registry Department (Casa do Cidadão)
Business founders must provide the proposed company name and purpose in order to verify the availability for the name. A research is completed at the Commercial Registry Department (Casa do Cidadão), which then approves or rejects the proposed name. The firm registry is computerized, allowing for a fast verification process.
A list of pre-approved names is also available at the Commercial Registry Department, although entrepreneurs usually reserve their own proposed company names.
Time and cost: 1 day, CVE 600
Deposit the initial capital in a bank
Agency: Commercial Bank
The initial capital must be deposited in a bank. For companies not incorporated under the fast-track plan “Empresa no Dia”, the paid-in minimum amount must be deposited prior to registration.
According to article 277 of the Commercial Code (Código de Empresas Comerciais), proof of deposit must be presented at the time of the application for registration of the company.
Time and cost: 1 day, no charge
Register the company and obtain the publication of a notice of incorporation
Agency: Commercial Registry Department (Casa do Cidadão)
Once the entrepreneur goes to the Commercial Registry Department (Casa do Cidadão), the company’s registration is completed through an internal online registration system. The incorporation notice is published in the Casa do Cidadão website and its cost is included in the company registration fee. The tax identification number can be obtained automatically and it is free of charge.
Time and cost: 1 day, CVE 10,000 (registration fee) + CVE 1,000 (chamber of commerce fee)
Request inspection and obtain municipal license
Agency: Municipality
There are two types of licenses which may be required in Praia, according to the company’s activity: the municipal license and the license by activity. The municipal license is mandatory for all businesses operating in Praia.
Since the approval of resolution n° 05/2019 in February 2019 — which simplifies the access and exercise of commercial activity in the city of Praia — general businesses have been able to obtain a license immediately.
The license is issued after entrepreneurs submit the communication of the beginning of activity and all the required documents at the one-stop-shop (balcão único). The service then automatically issues the license for the required activity
Among the required documents is the request for inspection of the commercial establishment, which occurs within the first 15 days of the business’ operations.
The status of the license can be checked online through the following web portal: https://lojacmp.com/?secao=processo
Time and cost: 1 day, CVE 30,000
Receive inspection of business premises
Agency: Municipality
According to the deliberation nº 05/19 of February 2019, the municipal license is mandatory for all business operating in Praia. Since the approval of said resolution, the license is granted at the time of request and inspection is carried out within 10 days of entry into operation to verify compliance to the norms.
Time and cost: 1 day, no charge
Obtain and legalize the company books
Agency: National Print (Imprensa Nacional)
These books can be purchased at the “Imprensa Nacional” National Print for CVE 2,000. All pages have to be signed and stamped by the local tax department.
Time and cost: 3 days (simultaneous with previous procedure), CVE 2,000
Register workers with the Social Security Office (Instituto Nacional de Previdência Social)
Agency: Social Security office (Instituto Nacional de Previdência Social)
Business founders must register with Social Security. The (Instituto Nacional de Previdência Social – INPS) provides a form must be submitted by the employer and / or the insured workers within 30 days of the start of the activity, together with the workers’ first sheet of ordinances and salaries, photocopy of Identity Card; photography.
Registration at the Social Security Office (Instituto Nacional de Previdência Social – INPS) is free of charge.
Time and cost: 1 day (simultaneous with previous procedure), no charge
Register workers for accident insurance
Agency: Insurance company
Business founders must register workers with accident insurance at any insurance company.
Time and cost: 1 day (simultaneous with previous procedure), no charge
Notify the Labor Inspectorate of the start of operations
Agency: Labor Inspectorate (Inspecção-Geral do Trabalho)
Prior to the start of operations, business founder must submit a notification of commencement of operations to the Labor Inspectorate (Inspecção-Geral do Trabalho), informing the company’s name, type of activity, address, names and address of each manager and director and the number of employees. This notification has no cost and it is foreseen by Art. 16 of the Decree-Law 13/2012.
Time and cost: 1 day (simultaneous with previous procedure), no charge
