Insolvency and recovery of companies in Portugal

Insolvent companies

A company becomes insolvent when it is unable to meet its obligations, in particular the payment of its debts to its creditors. Insolvency proceedings may either be based on the recovery of the company or aimed at the liquidation of the company’s assets in order to pay its creditors.

A company may apply voluntarily for a declaration of insolvency within 30 days of becoming insolvent.

This can also be done by the company's governing body, its directors, creditors or the public prosecutor's office, on behalf of the entities.

Further information on insolvency proceedings in Portugal can be found on the e-Justice portal.

Business recovery

For any issues relating to business recovery, please see the website of the Agency for Competitiveness and Innovation (IAPMEI).

Contact for assistance

To obtain further information or if you need help, contact IAPMEI by:

  • telephone: 808 201 201 or 213 836 237, week days, from 9am to 6pm
  • e-mail: