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Madeira: Offshore Legal and Tax Regimes

Exchange Controls

Although under EU legislation capital and exchange controls have been abolished, some rules remain.

Significant capital transactions are reported to the Bank of Portugal 'for statistical purposes'. Again, 'for statistical purposes', foreign investment operations are reported to the Institute of Foreign Trade of Portugal after the event. These reports are made by the banks involved.

Foreign investments in the banking and finance industries are subject to Bank of Portugal approval.

 

 

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