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02 April 2003
Established as an autonomous public legal entity with a corporate purpose, the Investment Agency is intended to increase efficiency and to streamline the process for potential investors with regards to the financing of projects, among other things.
This new pro-active approach should benefit the market, stimulating new business opportunities for M&A transactions and corporate reorganizations.
The Investment Agency will play an active role as the sole intermediary for both national and foreign investors in the financing of major investment projects, among other things. 'Major investment projects' are defined as: (i) investments with a value of over €25 million - irrespective of the industry or the size, nationality or legal nature of the investor - as long as the investment is provided in a lump sum or in instalments over a period of up to three years; and (ii) investments with a value of less than €25 million, where these are made by an enterprise with a consolidated turnover of over €25 million or by a non-commercial enterprise with an annual budget of over €40 million.
The agency will also represent all administrative authorities and regulatory agencies involved in major projects financed by local and foreign investors.
The Investment Agency is the coordinating body for all incentives aimed at increasing interest in major investment projects. It is also competent to coordinate and negotiate the allocation of public venture and development capital to this end. Finally, it may also participate in the management of industrial parks to further attract interest in the financing of major projects.
For further information on this topic please contact Luís Soares de Sousa at Goncalves Pereira, Castelo Branco e Associados by telephone (+351 21 355 3800) or by fax (+351 21 353 2362) or by email (email@example.com)..
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