Investment regulation – Portugal
Holding restrictions
Portuguese Law No. 102/2003 confirms the abolition of limits on foreign ownership of Portuguese companies.
However, when a shareholder intends to increase, directly or indirectly, the control over 10% of the voting rights in the following types of company, pre-approval of holdings is required as indicated:
| Company type | Approval required from |
Banking institution | Portuguese central bank (Banco de Portugal – bportugal.pt) |
Insurance company | Instituto de Seguros de Portugal (ISP – ASF Instiucional) |
Investment advisor and parent company of regulated stock exchange or multilateral trading facility (MTF) company | Portuguese Securities Market Regulator (Comissão do Mercado de Valores Mobiliários – CMVM institutional portal) |
Disclosure requirements
For details of the local domestic disclosure requirements, please refer to the Disclosure Requirements.