A new Investment Code, as approved by Decree-Law 19/2016, dated 17 November 2016, has just been made public. The new statute revokes the previous Investment Code (as approved by Law No. 7/2008, of 27 August 2008) and introduces significant changes to the legal framework applicable to investment operations, notably in respect of tax breaks. Among other measures, the minimum threshold for investments eligible for tax incentives has been reduced to EUR 50,000 and whilst the rules and procedures for investment applications have been streamlined.

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