Eternity Law International — News — SPI license in Portugal

SPI license in Portugal

Published:
March 6, 2024

Last decade saw a constant increase in interest in Portugal, particularly, in tourism and entrepreneurship, including business-activities in financial niche. This country grants lucrative environmental basis for launching new firms with getting mandatory certificates and permits. Nevertheless, it requires fulfillment of certain and clearly-established conditions by governmental agencies. This sector is controlled by Portuguese Bank CMVM .

Our team consists of highly-qualified professionals being ready to give you assistance in launching and licensing firms. We’ll advise you on any issues related to getting SPI-licenses. Additionally, we possess SPI license in Portugal for sale.

What entrepreneurs need to get SPI license in Portugal

To start SPI-business entrepreneurs need:

  • collect mandatory statutory and other documentation, such as copies of passports, sample signatures, completed forms for firm establishment;
  • confirm presence of officially-registered office-premises locally;
  • appoint accountant;
  • create banking account locally;
  • pay applicable fees.

Cost of getting an SPI-license depends on several nuances. Key spectrum of services includes preparation of statutory documentation, design of business-plan and legal support. Nevertheless, each client is provided with individually-developed approach and personalized price offer based on their needs. Cost is discussed during free consultancy.

We’ll tell you about TOP-5 best jurisdictions for getting SPI-license. Our team possesses advantageous variant of Portugal SPI license company for sale.

Normative points for Portugal small payment institution license

To obtain SPI license in Portugal, firms need to meet a number of parameters.

  1. Having officially-registered physical office-premises locally.
  2. Competent management by experts with expertise in supervision and financial niche.
  3. Correspondence with technical, personnel and organizational prerequisites.

Personal consultancy is provided for detailed list of parameters . Interested entrepreneurs may resort to variant of company with SPI license for sale in Portugal.

What documentation is needed to get small payment institution license in Portugal

Entrepreneurs need to send next-mentioned documentation and data.

  1. Business and financial plans.
  2. Documentation for participants of enterprise.
  3. Description of soft.
  4. Developed internally-used procedures, such as AML/Compliance and others.

For more detailed information and complete list of documentation, it’s proposed to conduct personal consultancy. Lawyers of our firm possess enormous knowledge in field of license-getting and tell you whole procedure step by step.

We give fully-covering services, from firm launching to realization of option to obtain a small payment institution license in Portugal. Our professionals possess extensive expertise in this field and are ready to help you select most suitable variant. For additional information and consultancy, turn to us using contact details provided. Establishing a business-structure in financial niche will become easier and more efficient with us. We possess ready-made Portugal SPI license company.

Key AML-requirements for SPI-companies

  1. Monitoring risks of illegal monetary means circulation associated with new technologies.
  2. Maintain due diligence in business-activities and relationships with clients.
  3. Designing and implementing policies, procedures and controlling mechanisms to manage illegal monetary means circulation risks.
  4. Identification of clients and business-owners through KYC-procedure.
  5. Collection and storage of data about business-relationships with clients.
  6. Analysis and verification of transactions based on risk-assessment.
  7. Timely notification and cooperation with competent authorities about suspicious transactions.
  8. To identify suspicious transactions, it’s recommended to implement standard set of indicators, including red flags: size, frequency and nature of transactions, anonymity, customer profiles and violations, origin of assets, and geographic risks.

High AML-risks are associated with certain categories of persons: persons and firms offshore, politically-exposed ones, persons and organizations on sanctions, and firms designated in regulative orders.

Privileges of doing SPI-business in Portugal

  1. Stable socio-political situation.
  2. Possibility of getting tax-preferences.
  3. Flourishing environment for business-development.
  4. Highly-sel level of economical progress.
  5. Easy-going and fast firm establishment procedure taking only 1 hour.
  6. No double-taxation with EU-countries.
  7. Available labor resources.
  8. Guaranteed investments protection.
  9. Support and encouragement of investors from governmental apparatus.
  10. Ease of business-management.
  11. Low transactions costs.
  12. Transparency and honesty in business-practices.
  13. Possibility of using free economical zones in Madeira and Azores.
  14. Possibility to strengthen positions in European and worldly market-spaces.
  15. Guaranteed temporary residence for investors.

Thus, such permit will be excellent chance  to quickly and efficiently launch a business-project.

Sale of small payment institution license in Portugal

To attract foreign investments, Portuguese governmental apparatus made essential modifications to process of acquiring existing businesses. According to statistics, firms specializing in tourism and restaurant-business, and financially-operating firms, are especially appealing to investors.

Since 2013, Portugal has had investment programs providing possibilities to get a Golden Residence Permit. Under these programs, foreign investors may get residential permits within 2-month-period.

To create a firm, foreign entrepreneurs need to possess taxpayer number. Nevertheless, to get it from tax-authorities, you need to be a resident or citizen of any EU-country. If you don’t meet these criteria, you may contact a guarantor or consider getting EU-citizenship.

Our team

We give fully-covering services, from creating and launching a firm to getting mandatory permits. Our professionals are pleased to help you select perfect options. If you have any questions, don’t hesitate to turn to us via numbers provided.

Our experts give you detailed answers and professional advice to simplify process of opening SPI-business in Portugal. We possess plenty of options for SPI-licenses in Czech Republic, Denmark, Latvia and others.

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