Combating Money Laundering and Terrorism
23 November 2020
The European Union has tightened the rules for combating money laundering and terrorism, therefore, the Portuguese Law no. 58/2020, of 31st August 2020 has entered into force on 1st September 2020. This law transposes Directive (EU) 2018/843 of the European Parliament and of the Council of 30th May 2018 amending Directive (EU) 2015/849 and Directive (EU) 2018/1673 of the European Parliament and of the Council of 23rd October 2018, amending several laws.
Among many policies, this increased set of rules now provides the legal system guidance about the use of cryptocurrencies and specially, the increased number of entities that are now required to report and communicate to the authorities a large number of clients’ personal information and documentation in case any suspicious activity occurs.
These entities, law firms and real estate agencies included, need to comply with customer due diligence and “Know Your Customer” duties when providing a large number of services. These obligations imply collecting a considerable amount of information and documentation from their clients prior to the provision of that service and are required to store that data for a period of 7 years.
Though legally structured, the process can be complex due to tight deadlines, family dynamics, and cross-border challenges.
Under the Portuguese Road Code (Código da Estrada), it is strictly prohibited to operate a vehicle while under the influence of alcohol.
The most recent and impactful change came with the enactment of Law No. 56/2023, which entered into force in October 2023.
AIMA confirms: Golden Visa applicants' 5-year citizenship timeline begins the day after settlement of the application analysis fee. Recently clarified by AIMA.
The Central Register of Beneficial Ownership (RCBE, Registo Central do Beneficiário Efetivo) is a mandatory register established by the Portuguese government.
Submit IRS Modelo 3 in Portugal by 30 June 2025 or request an extension until 31 December with Modelo 49 in specific cases.
Nova lei reformula Autorizações CPLP: cartão físico de 2 anos, visto consular obrigatório e acesso à livre circulação no Espaço Schengen.
Bought or renovated a home in Portugal and found defects? You may have legal protection, with warranty periods from 5 to 10 years under Portuguese law.
A branch is not a separate legal entity. It operates as an extension of the parent company and is fully dependent on it, both legally and financially.
To maximise these benefits, property buyers should assess eligibility before purchasing a property, ensuring it meets the criteria for IMT exemption.