Portugal

Portugal is an EU and OECD member jurisdiction with officially supported export credit and investment programmes administered through designated export credit agency channels under Ministry of Finance oversight. For bank desks, the Portugal country profile combines state-guaranteed export credit insurance, Arrangement compliance statements, FATF-list geography and a central beneficial ownership register.

Official export credit support in Portugal

The Treasury and Finance Entity (ETF, formerly DGTF) states that the Portuguese government provides guarantees for financial operations, including credit lines and individual transactions, within State Budget Law limits and international rules on official export credit support, with the primary aim of enhancing exports of Portuguese goods and services. Support is governed by the State Budget Law, Decree-Law No. 183/1988 of 24 May, Decree-Law No. 295/2001 of 21 November, and Law No. 4/2006 of 21 February on concessional credit.

Portugal states that it complies with the OECD Export Credit Arrangement and the OECD Recommendation on Common Approaches for environmental and social due diligence, which categorises supported projects by potential impact. Implementation and management of official export credit and investment support are assigned to COSEC (Companhia de Seguro de Creditos S.A.) and Banco Portugues de Fomento, S.A., with ETF proposing support principles, issuing guarantees and representing the Ministry of Finance in EU and OECD working groups.

The Berne Union member profile for COSEC records a private entity with a public mandate, established in 1969, responsible for the account and by order of the Portuguese State for covering and managing credit and investment in political risk countries. Major facilities listed include short-term and medium and long term export credit insurance for supplier and buyer credits, investment insurance against expropriation, transfer, war and breach of contract, and bonds and guarantees. Credit files identify whether cover sits on the state account via COSEC and how ETF guarantees attach.

FATF and sanctions list posture

Portugal is a FATF member. Membership denotes participation in AML and counter-terrorist financing standard setting; evaluation outcomes are published by FATF separately. Portugal does not appear on the FATF increased monitoring or call for action lists as reproduced in HM Treasury's June 2026 Money Laundering Advisory Notice. FATF list status is distinct from financial sanctions: person and entity level sanctions screening continues against applicable EU, UN and national lists, and destination risk for official cover follows the OECD country categorisation used for premium floors on medium and long term credits.

Company and beneficial ownership registers

Portugal maintains the Registo Central do Beneficiario Efetivo (RCBE). The RCBE portal states that the register identifies the natural persons who control a company, fund or other legal entity, that declaration is required for entities constituted in Portugal or intending to do business there, and that RCBE information does not constitute proof of the entity's legal situation. The Instituto dos Registos e do Notariado, I.P. is the responsible body, and the portal describes consultation and access restriction functions under Law No. 89/2017.

Commercial company registration sits alongside RCBE. Exact fee schedules and access gates for non-Portuguese obliged entities are recorded as an open item pending primary confirmation. Banks obtain UBO evidence under AML rules and RCBE consultation duties rather than treating register extracts as a complete credit file.