Portugal waives annual confirmation for registration of UBO in 2021

9 June 2021 – Portugal has waived annual confirmation for registration of the Ultimate Beneficial Owner (UBO) (RCBE) for the year 2021. Companies will not be required to file the annual UBO declaration (filed together with the IES tax filing), which was set to be due by 15 July 2021.

Nevertheless, it is worth noting that the waiver of the UBO declaration filing for 2021 does not affect companies’ ongoing duty to register any changes to UBO details with Beneficial Owner Central Register (BOCR) (Registo central do Beneficiário Efectivo). Any such changes must be registered within 30 days of change.