Investment regulation - Portugal
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|
|Insurance company||Instituto de Seguros de Portugal (ISP)|
|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)|
For details of the local domestic disclosure requirements, please refer to the Disclosure Requirements.