I.  EDITORIAL – PUBLICATION OF THE CROWDFUNDING LEGAL REGIME

February was marked by the publication of Law no. 3/2018, of February 9, established the legal regime applicable to the activity of collaborative financing in Portugal (also known as “crowdfunding”).

The publication of this new regime came to impose a distinction between crowdfunding through capital or loan (regulated by CMVM) and crowdfunding through donation or reward (supervised by ASAE).

It is also established that companies or private investors who have an annual income of less than 70 thousand euros cannot spend more than 3 thousand euros per offer or 10 thousand euros for a period of 12 months in crowdfunding campaigns up to 5 million euros. For the other companies or investors, there are no such limits on this matter. The severe sanctioning regime should also be highlighted.

In addition, this month is also marked by the increase in Social Integration Income (RSI) and Social Supplement for the Elderly (CSI) regulated by Ordinance no. 52/2018 of February 21 and Ordinance no. 53/2018, of February 21, respectively.