83/2017, of 18 August, regarding the registration of service providers to companies, other legal persons or centers of collective interests without legal personality, before the Authority of Food and Economic Security (ASAE), which is responsible for organizing and keeping this record up to date. In this sense, Regulation No. 656/2022, issued by ASAE, was approved.
To whom does the Regulation apply?
Service providers to companies, other legal persons or centers of collective interests without legal personality that carry out the following activities in Portuguese territory are subject to the registration obligation, as well as the obligation to update the respective identification elements:
Incorporation of companies, other legal persons or centers of collective interests without legal personality;
Provision of registered offices, commercial, administrative or postal addresses or other services related to companies, other legal entities or centers of collective interests without legal personality;
Performing the functions of administrator, secretary, partner or associate of a company or other legal person, as well as performing the necessary steps for another person to act in the aforementioned ways;
Performance of functions of trustee of an explicit trust (express trust) or similar function in a center of collective interests without legal personality of a similar nature, as well as execution of the necessary steps for another person to act in the aforementioned ways;
Intervention as a fiduciary shareholder on behalf of another person (nominee shareholder) that is not a company listed on a regulated market subject to information disclosure requirements in accordance with European Union law or subject to equivalent international standards, as well as the execution of due diligence necessary for another person to act in this way; and
Provision of other related representation, management and administration services to companies, other legal entities or centers of collective interests without legal personality.
What are the procedures to adopt?
1) Provider covered by the regulation fills in the form available on the ASAE website. This form requires the completion of the service providers' identification elements (name, date of commencement of activity, corporate purpose, CAE code, identity of the holders of the management body or equivalent body, documents on competence and academic qualification of persons with functions of direction, statement on the commitment of honor - suitability etc);
2) ASAE carries out an assessment of the competence and suitability of persons with management functions in the obliged entity. The suitability assessment criteria will still be published;
3) ASAE issues a final decision on compliance with the registration procedure, encompassing the assessment of the identification elements, as well as the competence and suitability of those responsible for the service providers;
Changes to elements contained in the registration or the termination of the service provider's activity must be communicated by the service provider to ASAE within a maximum period of 30 working days from the formalization of the change/extinction.
This Regulation will enter into force on October 17, 2022. The obligated entities that were already active at the time, have 90 days from the date of entry into force of the regulation to comply with the obligations thereof (until January 16, 2022). 2023).
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