Government measures in key jurisdictions 2nd edition final pages - Flipbook - Page 70
Portugal
Contributor: Garrigues
1
Pedro Lemos Carvalho | pedro.lemos.carvalho@garrigues.com | +351 218 913 264
Susana Pimenta Sousa | susana.pimenta.sousa@garrigues.com | +351 218 913 249
Loans and
financial
support
Specific credit lines available for treasury support: credit line of up to €400 million for
treasury support under the Capitalizar COVID-19 Programme preferentially for SMEs not
covered by the specific credit lines below.
Has the
government put
in place any new
bank funding
schemes?
•
€60 million (tourism sector – microenterprises),
•
€600 million (restaurant business),
•
€200 million (travel agencies, tourist entertainment and event organisation companies),
•
€900 million (touristic developments and accommodation), and
•
€4.5 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).
Credit lines for treasury support of companies in the following specific economic sectors:
Specific Portugal 2020 incentives:
•
Manufacturing Innovation COVID-19 (Inovação Produtiva COVID-19) (€46 million) for
SMEs and large enterprises.
•
Research and Development for Companies – COVID-19 (I&D Empresas - COVID-19)
(€23 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:
70
•
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
start-up).
•
Extension of the “Start-up Voucher” (i.e. a 3-month extension of the benefit already
awarded (EUR 2,075 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 EUR 1,500.
•
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 EUR 50,000 and EUR
100,000 per start-up).
•
Launch of the “COVID-19 - Portugal Ventures” for investments in start-ups, with
tickets from EUR 50,000.
•
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 EUR 500,000 and the maximum of EUR 5,000,000.
•
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 EUR 50,000 and
the maximum of EUR 2,500,000.
Government measures in key jurisdictions