Government measures in key jurisdictions 4th edition - Flipbook - Page 99
Portugal
Contributor: Garrigues
Pedro Lemos Carvalho | pedro.lemos.carvalho@garrigues.com | +351 218 913264
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:
99
•
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
(€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 €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 €50,000 and €100,000 per start-up).
•
Launch of the “Covid-19 - Portugal Ventures” for investments in start-ups, with tickets from
€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
€500,000 and the maximum of €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 €50,000 and the maximum of €2,500,000.
Government measures in key jurisdictions