DECLARATIVE OBLIGATIONS OF COMPANIES – RCBE

The Central Register of Beneficial Owners (RCBE) identifies all natural persons who hold ownership or effective control of legal entities, whether this ownership or control is carried out directly or indirectly.

The submission of the RCBE declaration can be done through electronic means, namely, through:

a) Citizen card digital certificate;

b) Digital Mobile Key;

c) Professional authentication certificate, in the case of lawyers, notaries and solicitors;

d) Tax Authority authentication system, in the case of certified accountants;

e) Professional Attributes Certification System.

 

 

All commercial companies incorporated in Portugal and branches of foreign entities are required to make the RCBE declaration, through the commercial registration of the incorporation of the company or the registration of the branch establishment. Also foreign entities wishing to open a bank account in Portugal must, after registering the entity in the National Register of Legal Persons, submit the RCBE declaration. The deadline for submission is 30 days after the respective registrations. However, it appears that, in practice, the submission of the RCBE should be done as quickly as possible, given the fact that it is a necessary document for banks to be able to open bank accounts associated with these entities.

Changes made to the structure of companies (for example, departure/entry of new partners, resignation/replacement/appointment of new managers) or branches incorporated in Portugal must be updated, which must be done within 30 days of the change.

The RCBE declarations must be confirmed annually, until the 15th of July of each year. The initial declaration and updates are free of charge, unless submitted outside the legal deadline, in which case they will cost EUR 35.