Hong Kong, Liechtenstein and Uruguay off Portugal's ‘blacklist’: what changes for investment?

Earlier this year, Portugal formally removed these three jurisdictions from its list of tax havens. More than just a bureaucratic change, this decision removes critical barriers to capital flow and operational agility.

Samuel Fernandes de Almeida emphasised to JN that this is a ‘wise move, especially in the cases of Uruguay and Hong Kong, with whom Portugal has double taxation agreements in place, which include mechanisms for the exchange of information’. For the managing partner of MFA Legal & Tech, ‘an increase in transactions and the use of corporate structures through these three jurisdictions is to be expected, given that Hong Kong is an important financial centre in Southeast Asia, Liechtenstein is a financial hub for succession planning, and Uruguay is a centre for technological innovation’.