Before applying

 

Portugal FinLab is a communication channel designed to foster and promote the interaction of FinTechs – startups and/or incumbents – that operate or intend to operate in the Portuguese financial market, with the relevant Portuguese Supervisory Authorities (henceforth "Authorities").

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This communication fast track intends to clarify FinTechs’ regulatory questions, reduce the time-to-market of innovative products and enable compliance with the Portuguese legal framework.

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Before applying to Portugal FinLab, you can get an overview of the legal framework currently applicable in Portugal by exploring in each Authority’s website some relevant information, which may be applicable to your project, for instance:

 

• Banco de Portugal website

  • if your project requires the provision of payment services under PSD2 and you want to get acquainted with all the related legislation and regulations;

  • if it requires an authorisation for setting-up a payment institution or an electronic money institution;

  • if it relates exclusively with account information services and payment initiation services;

  • if it requires an authorisation for setting-up a credit institution or a financial company (you may also want to consult this checklist);

  • If your project involves entities subject to Banco de Portugal´s supervision with regard to anti-money laundering and counter terrorism financing obligations;

  • If your project intends to pursue activities with virtual assets subject to licensing, check the registration procedures;

  • If your project involves the provision of credit intermediation services, you have to request for authorisation to have access to the credit intermediary activity;

  • If you want to contact Banco de Portugal to clarify questions on financial innovation.

 

• CMVM website

  • if your project requires the provision of crowdfunding services and you want to get acquainted with the related European regulation;

  • if it relates to crypto-assets and digital investment;

  • if you want to get acquainted with the Portuguese Securities Code;

  • if your project requires an authorisation and registration of an investment advisory company;

  • if your project requires the registration of the activity of external management of collective investment undertakings;

  • If your project relates to venture capital, social entrepreneurship or specialised alternative investment.

  • If you want to ask a question on financial innovation to CMVM.

 

• ASF website (in Portuguese)

  • if your project involves insurance distribution, check the law, regulation, opinions and FAQ’s;

  • if your project intends to pursue activities related to insurance selling, you need to fulfill the registration procedures as intermediary;

  • if your project requires an authorisation for setting-up an insurance company;

  • if you intend to have advertising;

  • if you want to get acquainted with the insurance contract law;

  • if your project requires the knowledge of authorised entities;

  • if you need to ask a question to ASF.

 

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Please be aware that this information does not intend to be exhaustive nor to substitute the Authorities’ analysis. There might be other regulatory, reporting and disclosure requirements also relevant for your project, depending on the activity pursued.

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