Banco de Portugal (BoP) has introduced new instructions requesting more information about non-resident institutional investors who hold stock and unit trusts.
In addition, the new rules will come into effect on February 1, 2023, according to a report by Portugal News. SchengenVisaInfo.com reports.
“The purpose of these Instructions is to make the following changes: Declaration of Additional Information for Securities without an ISIN (International Security Identification Number) and for Non-Resident Investors shall always take precedence over the Declaration of a Legal Entity (LEI). Securities and Investors » The Prosecutor’s Office reported this in a press release.
According to Portuguese newspaper Jornal de Negócios, the reporting forms so far only ask for data to show rating and region, but from February next year the regulator will be eligible to see who is investing in this bank. .
BoP’s latest report highlights the reporting of information on transactions and positions in portfolios of securities and the investor by the investor and the security of a security. “Subject to Instruction No. 31/2005 of November 15 that supersedes Instruction No. 15/99 of June 15.
Information that allows the admin to store information necessary to generate statistics; This means bond portfolios and this basically ensures that the obligation can be fulfilled. »
A report commissioned by EY and shared with the ECO shows that investors from other countries have recently become more attracted to Portugal. Portugal received a total of 200 foreign direct investment (FDI) projects last year, with the potential to create about 28,000 jobs, three times what it was in 2020.
These statistics helped the Portuguese economy rise two places in the EY ranking for its ability to attract international investment, while the company indicated that the country was ahead of countries such as Ireland and Poland in the top ten. Europe in 2021.
The United States led investment in the Portuguese economy, but it shared this position with Germany, which had 30 projects in the country, twice as much as in the previous year, followed by France (14.5%) and the United Kingdom. (12.0%) and Spain (11.5%).
