Starting a small rental business
#1
BE Enthusiast
Thread Starter
Joined: Jul 2017
Location: Algarve
Posts: 569
Starting a small rental business
Hi,
We plan to start an AL, a short term accommodation for tourists.
Before registrating and ask for a licence at the 'balcao unico', you need to go to Financas and inform them you intend to start a business.
We found online at Financas a form 'Incicio de actividade' but it is really difficult to complete this form.
Has anyone experience with this? Better to go to the Financas?
Thanks
We plan to start an AL, a short term accommodation for tourists.
Before registrating and ask for a licence at the 'balcao unico', you need to go to Financas and inform them you intend to start a business.
We found online at Financas a form 'Incicio de actividade' but it is really difficult to complete this form.
Has anyone experience with this? Better to go to the Financas?
Thanks
#2
BE Forum Addict
Joined: Jul 2009
Posts: 1,805
Re: Starting a small rental business
I think you may be prevented from using the Balcão Único (or other online methods) due to the absence of a Cartão de Cidadão. I went to my local Finanças office and effectively they completed the form for me. Unfortunately I can't currently find my copy, so don't ask too many questions!
You will need to estimate your turnover for the first 'year' (ending 31/12, I think). If the annualised rate is less than €9,999 you will not have to register for IVA yet, though it may still be to your advantage to do so.
In my case I was 'converting' my AL licence under the old rules to the new system of operating an activity under the simplified Category B regime, so it may now be different anyway.
You will need to estimate your turnover for the first 'year' (ending 31/12, I think). If the annualised rate is less than €9,999 you will not have to register for IVA yet, though it may still be to your advantage to do so.
In my case I was 'converting' my AL licence under the old rules to the new system of operating an activity under the simplified Category B regime, so it may now be different anyway.