Accounting for Startups
HVR provides specialized accounting for startups and tech companies in Portugal. We understand digital business models, SaaS metrics and the specific tax implications for high-growth companies — from pre-seed to Series A and beyond.
Why Portugal for Startups?
Portugal has positioned itself as one of Europe's most attractive startup ecosystems. Key advantages include:
- IRC at 17% on the first €50,000 of annual profit (SME rate, vs. 21% standard)
- SIFIDE II — one of Europe's most generous R&D tax credit schemes
- Startup certification — unlocks stock option benefits and government support
- NHR replacement (IFICI) — attract international talent at 20% flat income tax rate
- €1 minimum share capital for Lda. and Unipessoal companies
Tax Benefits We Handle for Startups
SIFIDE II — R&D Tax Credit
SIFIDE II allows companies to deduct 32.5% of qualifying R&D expenses directly from IRC (corporate tax). Startups under 3 years old benefit from an 82.5% deduction rate up to €1.5 million — making it one of the most valuable incentives for early-stage tech companies. HVR manages the full application process and documentation requirements.
Stock Options Regime
Since 2023, Portugal offers a favourable tax regime for employees of certified startups: gains on stock options are only taxed at sale (not at exercise), and qualify for reduced rates if shares are held over one year. HVR advises on plan structuring, cap table management and tax compliance for both founders and employees.
RFAI — Investment Tax Credit
Companies making eligible investments in equipment, intangibles or buildings can claim a 25% tax credit (RFAI). Combined with SIFIDE II, this can significantly reduce the effective tax rate for growth-stage companies.
What HVR Provides at Each Stage
Pre-Seed / Seed
- Company setup and activity registration
- Startup certification application
- Monthly accounting from €150/month
- IVA, IRC and DMR compliance
- Salary processing for early hires
Growth / Series A
- SIFIDE II application and R&D documentation
- Stock option plan structuring
- Investor-ready financial statements (P&L, balance sheet, cash flow)
- 3–5 year financial models
- SaaS metrics tracking (MRR, ARR, churn, LTV)
- Due diligence support for investment rounds
Scale-Up / International
- Transfer pricing documentation
- Permanent establishment advice for foreign expansion
- IFICI applications for international hires
- External CFO services for €500k+ revenue companies
Sectors We Serve
We work with startups across technology, SaaS, fintech, healthtech, edtech, e-commerce, deep tech, and nearshore IT operations in Portugal.
Frequently Asked Questions
What is SIFIDE II and how does it benefit startups?
SIFIDE II is Portugal's R&D tax incentive system. Startups under 3 years old can deduct up to 82.5% of R&D expenses from IRC, up to €1.5 million. HVR handles the full application process.
How are stock options taxed in Portugal?
Since 2023, gains are only taxed at sale (not at exercise) for employees of certified startups, and qualify for reduced rates if held over one year.
What accounting does a startup need from day one?
All Portuguese companies (including startups) need a Certified Accountant (OCC) from the moment of incorporation. Minimum requirements: monthly IVA filings, annual IRC return, payroll processing, and SAF-T submission.