Government measures in key jurisdictions 5th edition - Flipbook - Page 102
Portugal
Contributor: Garrigues
Loans and
financial
support
Has the
government put
in place any new
bank funding
schemes?
Pedro Lemos Carvalho | pedro.lemos.carvalho@garrigues.com | +351 218 913 264
Susana Pimenta Sousa | susana.pimenta.sousa@garrigues.com | +351 218 913 249
Specific credit lines available for treasury support: credit line of up to Ä400 million
for treasury support under the Capitalizar Covid-19 Programme preferentially for SMEs
not covered by the specific credit lines below.
Credit lines for treasury support of companies in the following specific economic sectors:
• Ä100 million (tourism sector – microenterprises),
• Ä600 million (restaurant business),
• Ä200 million (travel agencies, tourist entertainment and event organisation companies),
• Ä900 million (touristic developments and accommodation), and
• Ä4.5 billion (credit line applicable to all companies, irrespective of the economic sector
in which they are engaged, and covers, inter alia, textile industry, clothing and
footwear, trade and services, transport, real estate, construction, extractive and
manufacturing industries, mining and wood industry).
Specific Portugal 2020 incentives:
• Manufacturing Innovation Covid-19 (Inovação Produtiva Covid-19) (Ä46 million) for SMEs
and large enterprises.
• Research and Development for Companies – Covid-19 (I&D Empresas - Covid-19) (Ä23
million) for companies and entities part of the National Investigation and Innovation
System (Sistema Nacional de I&I).
Specific financial support measures for Portuguese start-ups:
• Creation of “Startup RH Covid-19”, which is a financial support through an incentive
equivalent to 1 minimum wage per employee (up to a maximum of 10 employees per startup).
• Extension of the “Start-up Voucher” (i.e. a 3-month extension of the benefit already
awarded (Ä2,075 per employee)).
• Creation of the “Vale Incubação – Covid-19”, a financial support for start-ups with less than
5 years of existence, through the hiring of incubation services based on a non-refundable
incentive of Ä1,500.
• Creation of “mezzanine” funding for start-ups through a loan convertible into share capital
(shareholder loans), after 12 months, applying a discount rate to avoid dilution of
promoters (average investment tickets between Ä50,000 and Ä100,000 per start-up).
• Launch of the “Covid-19 - Portugal Ventures” for investments in start-ups, with tickets from
Ä50,000.
• Modification of the already existing fund “Fundo 200M”, which is a co-investment with
private investors in Portuguese start-ups and scale-ups, with the minimum public
investment of Ä500,000 and the maximum of Ä5,000,000.
• Modification of the already existing fund “Fundo coinvestimento para a inovação social”,
which is a co-investment with private investors in companies with innovative and social
impact projects, with the minimum public investment of Ä50,000 and the maximum of
Ä2,500,000.
Incentive package:
•
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Deferral of 12 months for repayment instalments due up to 30 September 2020 in
respect of reimbursable subsidies granted under the incentive schemes of the
National Strategic Reference Framework (Quadro de Referência Estratégico Nacional)
or Portugal 2020 without interest charges or any other penalty.
Government measures in key jurisdictions
