Brexit: Portugal – Temporary Permission Regime

The Portuguese Temporary Permission Regime (TPR) published, setting a temporary regime for UK entities that provide financial services in Portugal under EU Passports and allows that certain activities may continue to be performed post-Brexit.

The Portuguese TPR will start to apply from 1 January 2021 if, on that date, no agreement is reached between the EU and the UK, or no equivalence decision is adopted, that regulates that matters covered by the Portuguese TPR. Below is a summary of the main highlights of the Portuguese TPR.