Widely reported this week is an initiative powered by the Portugal In task force set up to help attract wealthy Britons fleeing the UK ahead of Brexit (click here).
The move essentially involves “simplifying the process” for firms registering here.
Bank regulators say they “are determined to make Portugal an appealing option” for investment managers.
Support will be offered in English and approvals will be given in “up to six months”.
The story has been presented by Reuters in something of a “Lisbon-centric” fashion.
It talks of “promises to streamline authorisations for firms that want to move” to the capital – though a Bank of Portugal administrator quoted seems to suggest the plan is to help businesses interested in locating anywhere in the country.
As Reuters explains, Portugal “is already trying to attract wealthy Britons who want to move after Brexit” but it has been “slow compared to places like Frankfurt and Paris in grabbing a slice of London’s financial services industry”.
