Investment framework and opportunities in Portugal

Procedures Relative to Foreign Investment

Freedom of Establishment: Foreign and domestic investors are subject to the same rules (except for certain sectors, see below).
Acquisition of Holdings: In general, there are no nationality requirements and no limitations on the repatriation of profits or dividends. Portugal limits foreign investment with respect to the production, transmission, and distribution of electricity, the production of gas, the pipeline transportation of fuels, wholesale services of electricity, retailing services of electricity and non-bottled gas, and services incidental to electricity and natural gas distribution. Furthermore, governmental approval is required in certain sectors, including: defense, water management, public telecommunications, railways, maritime transportation, and air transport.
Obligation to Declare: In principal, foreign investment in Portugal is free of administrative limitations. Foreign investors, by and large, may carry out activities under the same conditions as local investors.
To establish a new business, foreign investors must follow the same rules as domestic investors, including mandatory registration and compliance with regulatory obligations for specific activities.
Competent Organisation For the Declaration: AICEP
ePortugal
Requests For Specific Authorisations: Portugal enacted a national security investment review framework in 2014, giving the Council of Ministers authority to block specific foreign investment transactions that would compromise national security.
Portuguese government approval is required in the following sectors: defense, water management, public telecommunications, railways, maritime transportation, and air transport, as well as any economic activity that involves the exercise of public authority.
Investors wishing to establish new credit institutions or finance companies, acquire a controlling interest in such financial firms, and/or establish a subsidiary must have authorization from the Bank of Portugal (for EU firms) or the Ministry of Finance (for non-EU firms). Non-EU insurance companies seeking to establish an agency in Portugal must post a special deposit and financial guarantee and must have been authorized for such activity by the Ministry of Finance for at least five years.

Investment Opportunities

Investment Aid Agency: AICEP - Portuguese Investment Agency
Institute for Support for SMEs and Investment (IAPMEI)
Tenders, Projects and Public Procurement: Tenders Info, Tenders in Portugal
Ted - Tenders Electronic Daily, Business Opportunities in the EU
DgMarket, Tenders Worldwide
Other Useful Resources: Portal dos Incentivos
Chamber of Commerce and Industry
Portuguese Tourist Institute

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