nameaddressnationalityphototax identification numberprofessionworkplacedate of birth
nameaddressoccupationdate of birthnationalityphototax identification numberprofessionworkplace
identification numberidentification documents of directorscompany registration documentsshareholder identification
Cartão de Cidadão
Decree Law No. 290-D/99 (2009); Law no. 96/2015, of 17 August
2008
1993 (amended 2004 and 2008).
Banco de Portugal, Comissão do Mercado de Valores Mobiliários( CMVM), Instituto
Seguros de Portugal (ISP)
http://www.bportugal.pt/en-US/Pages/inicio.aspx, http://www.cmvm.pt/en/Pages/default.aspx, http://www.isp.pt/NR/exeres/97C24D91-5FD7-4874-9D7D-FFE049D206D9.htm
Serviço de Inspecção de Jogos do Turismo de Portugal, Instituto da Construção e do Imobiliário, Autoridade, de Segurança Alimentar e Económica, Ordem dos Revisores Oficiais de Contas, Câmara dos Técnicos Oficiais de Contas, Instituto dos Registos e do Notariado, Ordem dos Advogados and Câmara dos Solicitadores
N/A
N/A
N/A
No
No - however, entities should retrospectively review documentation to identify customers, based on materiality and risk criteria, namely the
characteristics of the account, the customer and the business relationship with the customer, in order to identify accounts that need an
immediate update.
The last IMF Country Report was published in July 2012. The report is the fourth country review under the three-year arrangement under the extended fund facility. There are no updated FATF’s mutual evaluations.
Yes
Yes - one-off transactions (single or linked) under EUR 15,000. For financial institutions, according to Instrução 26/2005 of Banco de
Portugal, the threshold is EUR12,500 (single or linked)
should provide a valid document with: full name, photo, tax identification number, address, profession and work place (when
applicable), politically exposed job/function, birth date and nationality.
should provide a valid document with the headquarters address, identification number (should be made through the card
named Cartão de Identificação de Pessoa Colectiva), shareholder identification if more than 25% of the voting rights, and board of directors
identification. For non-resident entities, equivalent documentation is required.
Management Board and shareholder identification must occur if more than 25% of the voting rights are held. Identification and verification requirements for beneficial owners are the same as those for individuals or companies listed above.
Entities should apply enhanced due diligence measures, in respect of customers and transactions which by their nature or characteristics can present a higher risk of money laundering or terrorist financing. This includes operations carried out with Politically Exposed Persons ('PEPs') residing outside the national territory, correspondent banking operations with credit institutions established in third countries and any others designated by the competent supervisory or monitoring authorities.
A non-resident PEP relationship requires additional due diligence. When establishing a relationship with a non-resident PEP, entities should
have appropriate risk-based procedures to determine whether the customer is a PEP; have senior management approval for establishing
business relationships with such customers; take adequate measures to establish the source of wealth and the source of funds that are
involved in the business relationship or occasional transaction and conduct enhanced ongoing monitoring of the business relationship.
When establishing a relationship through correspondence with third country banks, this relationship must be approved by the senior management. In addition, the financial institution should guarantee that customer identification was verified and the diligence duty was observed.
Yes
Non face-to-face relationships (especially those that can favour anonymity) require additional due diligence. In these cases, the institution
should demand additional documentation and ensure the first credit or debit is made through an account opened with the customer name.
Suspicious Activity Reports (SARs) are made to Policia Judiciaria
http://www.pj.pt/
No
No
No
No
No
No
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
CMVM, ISP
2016, 2012
due diligenceadditional documents
As of 2006 the government has issued the Cartão do Cidadão (Citizen Card). The older Bilhete de identidade which has been compulsory at 10, is still in limited use. All citizens starting at the age of 6 are required to obtain an identity card, but are not required to carry them.
https://en.wikipedia.org/wiki/Citizen_Card_(Portugal)
No
No
No
Policia Judiciaria
Yes
Yes
EUR 15,000
16377
There are no critical restrictions.
Article 3, section 4, provides for electronic signatures as long as the parties explicitly consent t their use.
Summary Law.
Portugal's e-signature laws follow the EU Directive on Electronic Signature. It is considered a two-tier jurisdiction because it gives digital signatures the same status as handwritten signatures but also recognizes simple electronic signatures as legal and enforceable. Countries that follow this model give companies the opportunity to select different forms of signatures and customize their business processes based on the form that is most convenient and appropriate for each use case.
Though digital (or advanced) electronic signatures are favored, Article 3 provides that so long as the signature method agreement is agreed upon between the parties, it will be deemed valid.
N/A
N/A
Yes - Law nº25/2008, which transposes the Third Directive, provides that in compliance with identification and diligence duties, financial
institutions can adapt the nature and scope of the verification and diligence procedures, taking into account the risk associated with the type
of customer, the business relationship, the product, the transaction and the origin or the purpose of the funds.
The copies of documentation can be certified by external third parties such as notaries.
N/A
N/A