© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - Portugal: A Promising Future
Posted 22nd January 2015

Portugal: A Promising Future

Acoq is a consultancy firm situated in Portugal. They talk us through Portuguese economic recovery and the challenges it brings to their business.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Portugal: A Promising Future
Image

Portugal: A Promising Future

Acoq is a consultancy firm situated in Portugal. They talk us through Portuguese economic recovery and the challenges it brings to their business.

“In Portugal, businesses are slightly growing,” says Pedro Simões, Managing Director of Acoq Consulting. “However citizens with fewer resources and competences find it hard at the moment.

“There is some speculation on investment in real estate, which in my opinion doesn´t help the market. Recently a huge number of law enquiries for wellknown citizens, including former Prime Minister José Sócrates and other high level directors from public institutions are damaging the demand from foreigners for the real estate market. The Tax Office in Portugal is being very active in inspecting businesses and is inputting more bureaucracy that increases the cost to fulfil tax obligations.”

Portugal’s recovery from recession comes with many challenges but ACOQ believe the key to continued prosperity in Portugal relies on the efficiency and reliance of its public institutions.

“The challenge facing the country is to look into the future of our public institutions and adjust what they are offering to us. Basically, our public institutions do not work well. When you need something it´s a nightmare so the challenge is to get a better service to companies and individuals, which is the result of paying taxes.”

ACOQ is a company with expertise in the areas of corporate and individual tax advising, including; non-habitual residence status; consultancy on investment (property, companies, financial products), management consultancy; general, analytical and budgeting accountancy; budget costs control; company evaluation and brokerage; price transfer file; business plans: set up, control and analysis of results and fiscal representation.

Key to the consultancy firm is its clients and the challenge of remaining competitive in its market. “For ACOQ, engagement with our clients and market is the only way to operate. Also, if we don´t constantly develop, we become part of history. We prefer to write our future every day.”

Despite the growth Portugal has recently been experiencing, all at ACOQ are optimistic yet cautious about the Portuguese economy and investment. “I think that real estate market is still a good option,” says Simões. “However, investors need to be more careful. Agriculture and tourism are always a good option to invest, especially because the Portuguese companies have competences and knowledge that are not easy to find.

“The challenge is first to increase liquidity on companies. We still have companies that have profitable businesses, but with less financing the outcome has fewer dimensions. It´s very difficult to grow companies to compete worldwide but some big companies in Portugal have also lost huge sums due to bad investments.”

One of the main problems facing Portugal is tax evasion. According to the Observatory for the Economy and Fraud Management, undeclared money circulating in Portugal equates to around 60% of the bailout given by the Troika and is also just over a quarter of the annual GDP in Portugal. The total of 46 billion euros said to be circulating in the parallel economy is also the highest figure since calculations began.

“The Portuguese government have increased tremendously the obligation to declare information,” says Simões. “The government started to oblige all business transactions to include an Invoice, and at the same time obliged the suppliers to provide invoice information every month.”

Instrumental to Portugal’s recovery was its growing export market, about which Simões commented: “In Portugal, there are some products that are traditionally exported, such shoes, wine, etc. The export of services has a long way to go, but I think that is suddenly starting.”

An important factor for foreign investment in Portugal is its geographical location. “The location of Portugal is very important when you want a good access point into Europe by sea. I think that, at the moment, everything changes fast. We will have elections in late 2015, and I don’t foresee any major developments before then.”

Categories: Finance


You Might Also Like
Read Full PostRead - Eye Icon
5 Things You Should Know Before Buying Your First Cryptocurrency
News
06/11/20235 Things You Should Know Before Buying Your First Cryptocurrency

Cryptocurrencies are fairly new in the investment world and raise some worry as a result.Plenty of websites offer advice for your first-time crypto purchase. Nonetheless, this remains a rather fresh investment opportunity, bringing along a degree of caution. E

Read Full PostRead - Eye Icon
How Outsourcing IT Management Can Transform Your Business Operations
News
11/11/2024How Outsourcing IT Management Can Transform Your Business Operations

Managing IT can be challenging for any business, requiring specialized skills, time, and constant updates. As companies grow, internal teams may struggle to keep up with evolving demands, making outsourcing IT management an effective solution. This approach al

Read Full PostRead - Eye Icon
Within The Financial Space, What Is A Security?
Finance
14/01/2019Within The Financial Space, What Is A Security?

Whilst many have heard the term security before, equally many do not understand its implications as a noun. Within the financial space, a security is, put simply, a certificate or form of declaration which indicates that something is tradable, and therefore ha

Read Full PostRead - Eye Icon
The Role of Legal Expertise in Securing Fair Compensation After Major Transport Incidents
News
08/04/2024The Role of Legal Expertise in Securing Fair Compensation After Major Transport Incidents

When a semi-truck incident shatters the rhythm of daily life, the path to justice is often entangled in complex legal frameworks. A specialist’s grasp on this multifaceted process is not a luxury but a necessity. Corporations and victims find themselves

Read Full PostRead - Eye Icon
Immigration & EU Membership Top the List of Business Issues
Finance
22/04/2015Immigration & EU Membership Top the List of Business Issues

Research from MakeItCheaper.com suggests that business owners are more concerned with the issues of EU membership and immigration above all else. With 17 days to go until the UK general election, business owners have said what they would like to see addressed

Read Full PostRead - Eye Icon
Connecting to Success
Innovation
24/10/2019Connecting to Success

In a world that is increasingly focused on incorporating the latest technology and software, it is important to ensure that all industries have the ability to solve problems using high-performance computing systems. X-ISS is a cross-platform management and ana

Read Full PostRead - Eye Icon
Is Call Tracking Your Marketing Saviour?
Innovation
09/01/2023Is Call Tracking Your Marketing Saviour?

If you’re looking to revitalise your company’s marketing and boost your business success, there’s one tool that’s perfect for the job — call tracking software.

Read Full PostRead - Eye Icon
Best Independent Investment Management Firm – Canada
Leadership
17/05/2016Best Independent Investment Management Firm – Canada

Matco Financial Inc. is an independent, privately-owned investment management firm.

Read Full PostRead - Eye Icon
Gemfields Acquires  Montepuez Gem Licenses
M&A
02/04/2015Gemfields Acquires Montepuez Gem Licenses

We caught up with Ian Harebottle, CEO of Gemfields, to find out how his company’s acquisition of mining and exploration rights at Mozambique’s Montepuez ruby deposit is set to change the global ruby trade forever.



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow