DEBTS TO BE RECOVERED IN THE COURTS REACH THE EUR 7.2 BILION

The enforcement proceeding (debt recovery through the courts) has been considered one of the major problems in Portuguese justice and also one of the barriers to the development of the Portuguese economy. In 2013 the cases for legal collection amounted EUR 5.6 billion, regarding 201,000 enforcement proceedings lodged in the courts. Between January and April 9 this year, 38,924 cases were filed, valued at EUR. 1.6 billion. Portuguese courts have pending something like EUR 7.2 billion to collect, which corresponds to 4.3% of GDP.

I AM AN E.U. CITIZEN, HOW CAN I REGISTRATE IN PORTUGAL?

To make your registration in Portugal, you only have to apply for a Certificate of Registration of Citizen. The Certificate of Registration of Citizen of the European Union must be requested by any citizen of the European Union, Iceland, Liechtenstein, Norway, Andorra and Switzerland, wishing to remain in Portugal for a period exceeding three months. The request can be made to the City Hall, in person by completing a statement and delivering the necessary documents. The application can also be made by a lawyer, as long as he has the necessary powers to act on your behalf.

BANK VALUATION OF HOUSES CONTINUES TO RISE

The price of the square meter in the country was valued at 1,141 euros, the highest value since May 2011. The banking valuation of houses has increased for seven consecutive months. The price at which banks evaluate households when granting housing loans doesn't stop rising. The trend of this indicator accompanies the upward trend in house prices in Portugal. According to the official data, the average value of the bank evaluation of the homes in October was 1,141 euros per square meter. This figure corresponds to an increase of six euros compared to the value registered in the previous month and is also the highest level since May 2011.

WHAT IS THE PORTUGUESE GOLDEN VISA?

Golden Visa is a type of residence permit that allows entry and stay in Portuguese territory without the need for a residence visa. Foreign citizens, who intend to invest in Portugal or carry out an investment activity (personally or through a company incorporated in Portugal), can apply for Golden Visa. As for investment, can be made in any of the following possibilities: Capital transfer in the amount of 1 million euros or more; The creation of at least 10 jobs (no minimum investment amount is required), in any business area; The acquisition of real estate with a value equal to or greater than 500,000 euros; Acquisition of real estate, whose construction has been completed at least 30 years ago or located in an urban rehabilitation area and carrying out a renovation in the total amount equal to or greater than 350,000 euros; Capital transfer in the amount equal to or greater than 350,000 euros, which is applied in research activities carried out by public or private scientific resear

WHAT ARE THE MAIN LEGAL PROCEEDINGS TO COLLECT A DEBT IN PORTUGAL?

The most common debt collecting legal proceedings applicable in Portugal are as follows: Ordinary proceeding The ordinary proceedings in the first instance can be divided into declarative proceedings and enforcement proceedings. In a declarative proceeding, the court decides on the merit of the litigation between the parties. In an enforcement proceeding, the court enforces a judgment or an enforceable title such as a cheque. Declarative proceeding After a claim is submitted to the court, it is served to the defendant. The service is generally carried out by registered mail. When it is shown to be impossible to serve the complaint via registered mail, the service is instead made through direct contact. The defendant then has 30 days to present his reply, where he can defend himself by alleging procedural objections, arguing that facts are not true, or stating other facts. The defendant may also file a counterclaim. However, it must be connected with the main claim or with the def

Business in Portugal

Pesquisar neste blogue