In Portugal, the Ministerial Order 233/2018, which regulates the Legal Regime on the Beneficial Ownership Central Register, was issued.
In addition to the establishment of the Beneficial Ownership Central Register, the Law requires legal entities to maintain an updated record of the shareholders and persons controlling the company.
On August 23, 2017, a new law regulating the use of cash as mean of payment came into force in Portugal and significantly lowered the amount of cash payments.
The Portuguese Government established a new regime respecting the appropriation of the assets / rights pledged through a commercial pledge.
With the aim of pursuing its objectives of fighting money laundering and granting more transparency to market operations, the Portuguese Parliament prohibited the issuance of bearer securities.
The Portuguese Government expressly stated in its government program the commitment to adopt “initiatives to encourage foreign investment in Portugal”.