Portugal | 2017.05.11
BANKS REQUIRED TO REGISTER BENEFICIAL QUALIFIED OWNERSHIP

By means of Law No. 16/2017, of 3 May 2017, the obligation to register with Bank of Portugal qualified shareholders of banks was extended to further include the identification of the ultimate beneficial owners.

 

Credit institutions must register within 90 days the beneficial owners of qualified holdings already registered.

 

This Law entered into force on 4 May 2017.

 

For more information, please contact:

Mafalda.Monteiro@mirandalawfirm.com

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