Do I Need an Accountant in Lisbon? When It’s Worth It & When It’s Not

Introduction

If you live or run a business in Lisbon, you might be wondering: Do I really need an accountant? Whether you’re a freelancer, expat, small business owner, or just someone managing personal finances, hiring an accountant can save you time, stress, and even money. But is it necessary?

In this guide, we’ll break down when you should hire an accountant, when you can handle things yourself, and how to choose the right professional in Lisbon.

When Do You Need an Accountant in Lisbon?

While not everyone needs an accountant, there are several cases where hiring one is highly recommended:

1. If You Own a Business

Running a business in Portugal involves dealing with corporate taxes (IRC), VAT (IVA), payroll, and financial reporting. Accountants help ensure compliance with Portuguese tax laws, avoid fines, and maximize deductions.

2. If You’re a Freelancer or Sole Trader (Trabalhador Independente)

Freelancers and independent workers in Lisbon must file taxes, handle social security payments, and potentially register for VAT. An accountant can ensure you do this correctly and take advantage of tax benefits.

3. If You’re an Expat in Portugal

Portugal has unique tax incentives like the Non-Habitual Resident (NHR) scheme and foreign income rules. If you earn money outside of Portugal or plan to take advantage of tax breaks, an accountant can help you legally optimize your taxes.

4. If You Have Rental Properties in Lisbon

If you’re renting out property, you’ll need to report rental income and may be subject to property taxes and capital gains taxes. An accountant can help you structure your rental income efficiently.

5. If You Invest in Portugal

Stock market investments, cryptocurrency, or other financial assets can have tax implications. A professional accountant ensures you report everything correctly and minimize tax liabilities.

6. If You’re Unsure About Portuguese Tax Laws

Portuguese tax regulations can be complex and frequently change. If you’re confused about deadlines, tax forms, deductions, or compliance, an accountant can simplify the process and help you avoid costly mistakes.

When You Might NOT Need an Accountant

In some cases, handling your finances on your own is possible:

✅ If you’re a salaried employee with no additional income, your taxes are often straightforward and can be filed using Portugal’s online tax portal (Portal das Finanças).

✅ If you don’t own property, run a business, or invest, then your financial situation might not be complex enough to require an accountant.

✅ If you’re comfortable with tax software, you can use Portugal’s online systems to file simple tax returns without professional help.

How Much Does an Accountant Cost in Lisbon?

If you decide to hire an accountant, here’s a breakdown of typical costs:

Service	Price Range (€)
Personal Tax Filing (IRS)	€80 - €250
Business Tax Filing (IRC)	€200 - €600
VAT (IVA) Registration	€150 - €500
Monthly Business Accounting	€100 - €400/month
Payroll Services (per employee)	€20 - €50/month
Company Formation Assistance	€300 - €1,200

How to Choose the Right Accountant in Lisbon

If you decide that hiring an accountant is the best option, here’s what to look for:

✔ Experience & Specialization – Choose an accountant familiar with your specific needs (business taxes, expat taxation, etc.).

✔ Language Skills – If you’re not fluent in Portuguese, an English-speaking accountant will make your life much easier.

✔ Pricing Transparency – Get clear pricing upfront to avoid hidden fees.

✔ Reviews & Recommendations – Check online reviews and ask for referrals from other professionals or expats.

✔ Legal Compliance – Ensure they are registered with the Ordem dos Contabilistas Certificados (OCC) in Portugal.

Final Thoughts – Should You Hire an Accountant?

While not everyone in Lisbon needs an accountant, hiring one can save you time, help you avoid tax penalties, and even lower your tax bill. If you’re a business owner, freelancer, expat, or investor, the benefits of professional financial advice far outweigh the costs.

Looking for a trusted accountant in Lisbon? Browse our directory of top-rated professionals here: 👉 Find an Accountant Now