New rules and procedures were recently enacted for the coercive repatriation and loss of assets deposited outside the country (Law No. 15/ 18, of 26 December 2018). Among other things, the statute regulates the assessment of the value of assets to be declared lost in favour of the State and the preventive seizure of assets. Also created was the National Department for Asset Recovery (“Serviço Nacional de Recuperação de Activos”), part of the Attorney General’s Office and responsible for the recovery of assets.
This law entered into force on 26 December 2018.
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