The ISO code of Portugal is PT according to the ISO 3166 standard. The local name of the country is the same as its English name. Portugal capital city is Lisbon. People in Portugal speak the Portuguese language. In the year 1808, Portugal emerged as a sovereign political entity. The largest city in Portugal is Lisbon.
Portugal is located in the UTC +00:00 time zone, which is also called Western European Time or WET. The internet country code top-level domain (ccTLD) for Portugal is .pt. Other domains assigned to Portugal are .eu. The domain name .eu is available for use by organizations in and residents of European Union member-states. The International dialing code for Portugal is 351. People in Portugal drive on the right side of the road. Total land area of Portugal is 92,090 km² (approx. 35,556 mi²). Portugal is not a landlocked country. It means that is is bordered by at least one major body of water.
Portugal is located in Europe. Portugal is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Portugal faces various issues, including soil erosion, air pollution caused by industrial and vehicle emissions, water pollution, especially in coastal areas.
Doing business in Portugal
We offer various corporate services in Portugal jurisdiction. These services can serve both, people coming from Portugal and foreigners. If you plan on doing business in Portugal you might be interested in contacting us.
To find out about starting your business in Portugal click on company formation in Portugal.
To find out how to open a bank account in Portugal and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Portugal.
Choose preferred service below or continue reading to find out more about Portugal.
Demographics of Portugal
The total population of Portugal is 10,291,196 people. In Portugal, the population density is 115 people per square kilometer (299 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Portugal is 0.0468. Portugal has approximately 837257 foreign immigrants. The median age is approximately 41.1 years. In Portugal, 64 in every 100 people use internet. Portugal has a Human Development Index (HDI) of 0.822.
The majority religion of Portugal is Christianity, Portugal is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Portugal.
Culture of Portugal
People in Portugal speak the Portuguese language. According to data on inbound tourists in Portugal, 8,097,000 tourists arrive in the country each year. The first McDonalds in Portugal was opened on 23 May 1991, and it was located in CascaiShopping, Cascais. One of the most popular national dishes of Portugal is bacalhau. To read more click on culture of Portugal.
Geography of Portugal
Portugal is considered to be a large nation because of its total area. Its total land area is 92,090 km² (approx. 35,556 mi²). Portugal is located in Europe. Its capital city is Lisbon. The length of said border is 1214 km (755 mi).Total length of land borders of Portugal is 1224 kilometers (~473 miles).
The highest point of Portugal is Ponta do Pico, with its official height being 2351 m (7,714 ft). Including land mass and EEZ, the total area of Portugal is approximately 1,819,498 km² (~702,509 mi²). The most notable natural resources found in Portugal are fish, forests (cork), iron ore, copper, zinc, tin, tungsten, silver, gold, uranium, marble, clay, gypsum, salt, arable land, hydropower.To read more click on geography of Portugal.
Economy of Portugal
The currency of the country is euro. The symbol used for this currency is €, and it is abbreviated as EUR. 7.9% of population in the country are unemployed. The total number of unemployed people in Portugal is 813,004. Each year, Portugal exports around $61 billion and imports roughly $59 billion. The Gini Index of the country is 34.2. Portugal has a Human Development Index (HDI) of 0.822.The Global Peace Index (GPI) for Portugal is 1.344. Portugal has a government debt of 38.8% of the country's Gross Domestic Product (GDP), as assessed in 2012. Portugal is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are textiles, clothing, footwear, wood and cork, paper and pulp, chemicals, lubricants, automobiles and auto parts, base metals, minerals, porcelain and ceramics, glassware, technology, telecommunications, dairy products, wine, other foodstuffs, ship construction and refurbishment, tourism, plastics, financial services, optics.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Portugal is $281,357 billion. Each year, consumers spend around $146,970 million. The ratio of consumer spending to GDP in Portugal is 0%, and the ratio of consumer spending to the world consumer market is 0.34. The corporate tax in Portugal is set at 21%. Personal income tax ranges from 14.5% to 48%, depending on your specific situation and income level. VAT in Portugal is 23%. To read more click on economy of Portugal.
Infrastructure of Portugal
Infrastructure quality in Portugal is rated to be at 3.37. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Portugal, 100% of the population has access to electricity. There are 3,748,000 internet hosts in Portugal. Portugal has 64 airports nationwide.
The logistics performance index of Portugal is 3.56. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 3.71. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Portugal is 18. To read more click on infrastructure of Portugal.
Politics of Portugal
Portugal, is a unitary semi-presidential constitutional republic. With regard to political and civil freedoms, Portugal is 1. Citizens in Portugal experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Marcelo Rebelo de Sousa.
According to the World Bank Group, the government effectiveness index of Portugal is 1.01. This indicates that the government of Portugal is effective. Citizens enjoy well-organized public and civil services, and government efficiency is high. While some services may be lacking in certain areas, the overall environment fostered by government legislation is favorable.In Portugal, the legislative power is vested in a Assembly of the Republic. The Global Peace Index (GPI) for Portugal is 1.344. The strength of legal rights index for Portugal is 2. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. Portugal is a member of the United Nations (UN). On 14 December 1955, it joined the UN as a full member state. Portugal is a member of the European Union (EU). On 14 December 1955, it joined the EU as a full member state. Portugal is a member of the World Bank. To read more click on politics of Portugal.
Environment of Portugal
Portugal emits 4.7 metric tons per capita of CO2. 31820 km² of Portugal's territory is covered in forests. and forest land comprises 35% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Portugal is 18. To read more click on environment of Portugal.
Company formation in Portugal
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Portugal.
When establishing a company in Portugal, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Portugal that will affect the establishment and growth of one's business. Contact us or click on company formation in Portugal to read additional information when setting up a business.
Bank account opening in Portugal
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Portugal. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Portugal, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Portugal or contact us.