Portugal bans bearer shares

Portugal has introduced legislation forbidding the issuing of bearer shares for Portuguese companies.

Any new companies formed now cannot be incorporated with bearer shares and the transfer of bearer shares has been forbidden under Law 15/2017.

All existing bearer shares will be converted into nominative shares before 4 October 2017.

This position might not suit a client where confidentiality is required so they could issue nominative shares in the name of a non-resident company in an alternative jurisdiction.

For further information on the solutions ILS World can offer please contact paulo.refega@ils.world