Decree Law No. 157/2019
- Issuer: Presidency of the Council of Ministers
- Diploma Type: Decree Law
- Number: 157/2019
- Pages: 10 - 21
Summary in plain english
This decree-law creates the registry of Portuguese foundations and foreign foundations that develop their purposes in Portugal, under the terms of the Framework Law on Foundations.What is going to change?
The registry of foundations, which is compulsory, consists of a single database, made available for public consultation by the Registries and Notary Institute. It contains elements of identification of those entities in view of knowing the foundational reality in Portugal.
In addition, it seeks to simplify the procedures associated with the life of foundations, from their creation to their extinction (end), making up-to-date information publicly available and alleviating the administrative costs currently existing.What advantages does it bring?
This decree-law improves the State's ability to be more effective, providing better services to citizens and businesses.When does it enter into force?
This decree-law enters into force on 1 January 2020.
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