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 typeApproval required from
Banking institutionPortuguese Central Bank
Insurance companyInstituto de Seguros de Portugal (ISP)
Investment advisor and parent company of regulated stock exchange or multilateral trading facility (MTF) companyPortuguese Securities Market Regulator (Comissão do Mercado de Valores Mobiliários - CMVM)

Disclosure requirements

For details of the local domestic disclosure requirements, please refer to the Disclosure Requirements.