Finance and Insurance in Portugal

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Finance and Insurance

Sending your money abroad

When sending your money to and from Portugal, using a foreign exchange provider as an alternative to your bank could potentially save you up to 3% on the rate of exchange offered. When buying property this could reduce the property price substantially. Axia Fx were one of the first non-bank provider to offer private commercial foreign exchange and as such have been in the industry and have a wealth of experience when it comes to moving your money securely and ensuring you get the most value for your particular currency.

Regulated by the FSA for International payment services, Axia Fx has continued to grow since its inception in 2006 and provide excellent exchange rates and impeccable customer service.

Banking

The banks are very important in the Portuguese economy, contributing to a healthy financial dynamism. Banks established in Portugal tend to specialize following their defined strategic options. Examples are the saving banks or the banks that specialize in the purchase of real estate. Insurance companies also play a crucial role in the Portuguese economic system.

As a consequence of its membership of the European Union, Portugal today has a significant level of foreign investment in banking and insurance companies.

Stock markets

Portugal has two stock markets located in Lisbon and in Oporto. The stock markets provide an open market for leading Portuguese companies, allowing open market sales of government and corporate bond issues and shares.

The stock market is also a good control over Portuguese companies because they must respect a strict legal regime designed to guarantee the transparency of their accounts, in order to protect investors.

The stock market in Oporto is exclusively for futures and derivatives, which proves Portugal’s interest in one of the fastest developing world markets.

Foreign investment

Foreign investment has been increasing in recent times, especially since Portugal became a member of the European Union.

The adjustments that were needed so that Portugal could be included in the founding group of countries of the European single currency have had a profound effect on the Portuguese economy. The resultant economic stability has led to increased foreign investment in Portugal.

This economic stability, joined with the Portuguese potential in the tourism industry has been decisive for investment in Portugal.

In addition, Portugal’s traditional presence in Africa and Brazil, gives it an advantage in the establishment of commercial contacts and business opportunities in these expanding markets.

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