Business Culture in Portugal is something that should be explored and followed by many. Excellent business communication is one of the key elements of business. There are some things you should pay observe such as the importance of face-to-face communication, proper use of English, or Portuguese if possible, and the appreciation of business relationship. Besides, you need to know how to address your business partners and make contact with them properly.
Knowledge of business etiquette is crucial, and it can help you solve potential problems which resulted from difficulties in communication. There are some Corporate Social Responsibilities (CSR) which the companies should work on such as green issues, poverty as well as exclusion. Besides, it is vital to be punctual, since Portuguese appreciate their time a lot. Business etiquette also includes giving gifts, which are a sign of respect not bribe. Business dress code is also something that should be considered, and the outfit should be formal for both men and women. It is important to know, that bribery and corruption cases are reported and that Portugal struggles to deal with this issue appropriately.
Meeting etiquette requires certain elements mentioned under business etiquette in general. Aside of that, it is important to know the importance of business meeting and its planning, as well as the negotiation process and a meeting protocol.
Internship and Student placement is also the important issue of Portuguese Business Culture. Working experiences, as well as the safety of the interns and students, and Social Security and European health insurance are important facts to observe when offering a job.
If you want to work and live in Portugal, the cost of life will be a great advantage for you, since Portugal is not among expensive countries of Western Europe. Besides, work-life balance is something which is strongly advocated, with working hours, health insurance and days off contributing to the emphasis on family.
Starting the Business in Portugal
If you decide to start a business in Portugal, you will have to follow many legal requirements such as financial sustainability, viability, market situation and investment potential among other factors.
First, it is important to get legal advice to make sure that you are operating within the law. Once you have experts confirm your options, you need to have defined the legal status of the business. The legal forms that businesses can take are also necessary to regulate, which is done by the Companies Code. No matter if you decide for the sole or joint ownership there are many legal forms that the business can take.
The legal forms for sole ownership are:
- Sole Trader;
- Single-Member Limited Company;
- Individual Limited Liability Establishment.
The legal forms for the joint ownership are:
- Private Limited Company;
- Public Limited Company;
- Limited Liability Partnership;
In order to register the company, there are some particular steps you need to take such as social security registration and number of specific procedures which include online company licensing, and Industrial activity rules application.
International Business in Portugal
As you might have observed above, there are some aspects of life which have an impact on the way Portuguese conduct their businesses, which is a lot different than in other Western European countries. Therefore, general education is one of the critical elements in the Portuguese economy. Portugal nowadays has excellent universities and schools, and younger generations are very skilled with information technology and other developing sciences, which was not always the case. Business culture is important wherever you go, and if you follow necessary conditions, you will be able to operate within the borders of Portugal successfully.