Status of credit intermediary authorisation requests

Since 1 January 2018, Banco de Portugal has been responsible for authorising and registering all the natural or legal persons wanting to carry out credit intermediary activity.

The credit intermediaries authorised to carry out this activity in Portugal are published in a list issued by Banco de Portugal.

Banco de Portugal discloses information on the number of applications submitted, approved and rejected on a monthy basis. This information relates to natural or legal persons applying for authorisation to carry out credit intermediary activity. It does not cover communications on credit institutions, financial companies, payment institutions and electronic money institutions wanting to operate as credit intermediaries, nor cross-border activity notifications from other Member States' competent national authorities on the exercise of this activity in Portugal – lists for which are available on this Website.

 

Status of authorisation requests at the end of the period

Until 31 October  2019, 6,286 authorisation requests had been received, of which 221 were under review by Banco de Portugal on that day. 4,627 authorisation requests were approved and 1,438 were rejected.

Pedidos de autorização em fim de período

Source: Banco de Portugal

 

After the request for authorisation to carry out credit intermediary activity is received, Banco de Portugal has 90 days to notify the applicant of its decision on the request. In case of omissions or errors in the authorisation request submitted, the applicant is asked to address them, with the time period for analysing the request increasing to 180 days.

Following authorisation, the credit intermediary must be registered. As a rule, Banco de Portugal's official process for this takes place within 30 days of the authorisation notification.

 

Status of authorisation requests over the last month

Pedidos de autorização no último mês