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Newsletter November 2018

Legal Updates

New amendment to the portuguese civil code protects tenants

Law n. 64/2018, which promotes an amendment to article 1091 of the Portuguese Civil Code, ensuring the effective exercise of the right of preference by the tenants in the sale of the rented property, was published on 29 October 2018.

With this legislative amendment, the tenant may exercise the right of preference after two years from the date of signature of the lease contract, and the communication of the sale of the property by the landlord shall be made by registered letter with acknowledgment receipt, extending the response time of the lessee from 8 to 30 days counting from the date of receipt.

Another innovation is the possibility of exercising the right of preference over a plurality of properties, as well as the exercise of the right of preference in the lease for housing purposes related to a part of a building not constituted on horizontal property.

The approval of this law reinforces a guarantee that was already granted to tenants, prevailing the effective compliance with the law over the will of the landlord in the sale of the rented property.

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The path for equality on the web

In compliance with the Program of the 21st Portuguese Constitutional Government and the United Nations Convention on the Rights of People with Disabilities, Decree-Law n. 83/2018 was published on 19 October 2018.

This legal document, which transposes Directive 2016/2102, defines the accessibility and presentation requirements for digital information on websites and mobile applications of public entities, so that their use does not depend exclusively on vision, hearing, precise movements, simultaneous actions or use of pointing devices, so as to facilitate the access to the same for people with disabilities.

In addition, these public entities must provide on their websites and mobile applications means for users with disabilities to present a complaint whenever they are subject to discriminatory treatment.

Decree-Law n. 83/2018 will come into force on 1 January 2019, although, until 15 December of this year, the staff and funds of the Agency for Administrative Modernization, I.P., shall be reinforced in order to ensure skills related to accessibility on the web.

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Business Updates

€200m fund to support SME's in the non-financial sector

Applications for the 200M Co-investment Fund, an investment program launched by the Portuguese Government and managed by PME Investimentos, are officially open.

The 200M Co-investment Fund, which program was presented in 2016 at Web Summit’s first edition in Portugal, has as its main mission “to extend the financing offer to companies in the non-financial sector” – in particular to small and medium companies – in a matching fund logic, i.e., co-investment with private funds.

As such, a private investor looking to invest in this type of company may be accompanied by the State in the same amount, thus seeking to “strengthen a more dynamic and innovative economy”, reducing the investment risk and promoting the increase of the venture capital activity in Portugal.

The Fund has a budget of 200 million euros and public co-investment may equal the total private financial investment, with a minimum of 500 thousand euros and a maximum of 5 million euros per company.

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Creation of an electronic platform of investment support in the north

An entrepreneur with focus in Northern Portugal looking to start or expand his or her business has now an online tool that can help significantly in such investment decision: the N-Invest electronic platform, which contains socio-economic data on the 86 municipalities and 8 sub-regions of Northern Portugal, was recently launched.

This platform allows for the consultation of the business areas located in the North of Portugal, as well as the lots which are available for business installation. In addition, it contains other extremely useful information, such as the services and infrastructures that operate in the surroundings of those business areas (such as the Francisco Sá Carneiro Airport, highways, railway terminals and higher education and housing units, among others), as well as the accessibility to those services and infrastructures.

Furthermore, the N-Invest Project also has an investor support office, providing personalized advice to entrepreneurs who wish to invest in the region.

This platform, which ultimate goal is the attraction and setting of new business in the North of the Portugal, seeks to collect and organize fundamental elements for potential investors in order to facilitate their perception regarding the reality of this region of the country.

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