{"id":21715,"date":"2026-07-15T15:55:48","date_gmt":"2026-07-15T14:55:48","guid":{"rendered":"https:\/\/belzuz.com\/?post_type=publicacion&#038;p=21715"},"modified":"2026-07-15T16:06:51","modified_gmt":"2026-07-15T15:06:51","slug":"registering-an-insurance-broker-portugal","status":"publish","type":"publicacion","link":"https:\/\/belzuz.com\/en\/publicacion\/registering-an-insurance-broker-portugal\/","title":{"rendered":"Registering an Insurance Broker in Portugal: Legal Requirements and Practical Steps for Registration with ASF"},"content":{"rendered":"<p>Under Article 9(1)(b) of the Legal Framework for Insurance and Reinsurance Distribution (\u201cRJDS\u201d), approved by Law No. 7\/2019 of 16 January, an insurance broker is the category of intermediary that carries out insurance distribution activities independently from insurance undertakings. This business model therefore differs from that of an insurance agent, who acts in the name and on behalf of one or more insurers. Anyone intending to commence this activity in Portugal should first consider the key legal access requirements, summarised below.<\/p>\n<h2><strong>General Access Requirements<\/strong><\/h2>\n<ul>\n<li><strong>Legal capacity:<\/strong> a natural person of legal age or emancipated, with capacity to carry out commercial acts; or a duly incorporated legal person;<\/li>\n<li><strong>Adequate qualifications:<\/strong> successful completion of an insurance course recognised by ASF, with the minimum duration established by Regulatory Standard No. 6\/2019-R (80 hours for Life insurance, 90 hours for Non-Life insurance, or 120 hours where both sectors are covered);<\/li>\n<li><strong>Integrity and good repute:<\/strong> absence of any relevant criminal record (particularly offences against property or infringements of financial and insurance sector regulations);<\/li>\n<li><strong>Professional indemnity insurance:<\/strong> compliant with the minimum requirements established by ASF regulatory standards.<\/li>\n<\/ul>\n<h2><strong>Specific Requirements for the Insurance Broker Category<\/strong><\/h2>\n<ul>\n<li><strong>Independence:<\/strong> a natural person may not engage in any profession that could compromise their independence in carrying out the activity; a legal person must have an exclusive corporate purpose within the financial sector;<\/li>\n<li><strong>Minimum experience:<\/strong> the applicant (or, in the case of a legal person, one member of the management body responsible for distribution activities) must possess relevant experience of at least five years, consecutive or non-consecutive, during the seven-year period preceding the registration application;<\/li>\n<li><strong>Own organisational structure:<\/strong> appropriate technical, commercial, administrative and accounting structures, together with an economic and financial framework suited to the size and nature of the business;<\/li>\n<li><strong>Portfolio diversification:<\/strong> remuneration received from up to four insurers may not exceed 95% of the total remuneration earned.<\/li>\n<\/ul>\n<h2><strong>Financial Guarantees (Protection of Client Funds)<\/strong><\/h2>\n<ul>\n<li><strong>Surety bond insurance or bank guarantee:<\/strong> with a minimum amount periodically updated by technical standards of the European Commission (currently approximately \u20ac19,510, or 4% of annual premiums received, whichever is higher), intended to protect client funds entrusted to the broker.<\/li>\n<\/ul>\n<h2><strong>Additional Requirements for Legal Persons<\/strong><\/h2>\n<ul>\n<li>Minimum share capital of <strong>\u20ac50,000<\/strong>, fully paid-up at the date of incorporation;<\/li>\n<li>A corporate structure that does not hinder ASF\u2019s supervisory activities.<\/li>\n<\/ul>\n<h2><strong>Registration with ASF<\/strong><\/h2>\n<p>Access to the activity is subject to prior registration in ASF\u2019s register of insurance intermediaries, through the submission of an application accompanied by documentary evidence demonstrating compliance with the requirements outlined above, in accordance with the rules established by ASF regulatory standards. Insurance brokerage activities may only commence legally once registration has been completed and the corresponding intermediary registration number has been assigned.<\/p>\n<p>At the <a href=\"https:\/\/belzuz.com\/en\/areas-de-practica\/derecho-del-seguro\/abogados-seguros-lisboa-oporto-portugal\/\">Insurance Law Department<\/a> of <strong><a href=\"https:\/\/belzuz.com\/en\/areas-de-practica\/derecho-fiscal-y-tributario\/abogados-fiscal-tributario-lisboa-oporto-portugal\/\">Belzuz Abogados, S.L.P.<\/a> \u2013 Branch in Portugal<\/strong>, we assist future insurance brokers, agents and other distributors with the selection of the most appropriate corporate structure, the preparation of the ASF registration process, and the ongoing regulatory monitoring of their activities.<\/p>\n","protected":false},"featured_media":18937,"template":"","categories":[],"area-de-practica":[225],"publicaciones":[133],"idioma-publicacion":[71],"areas-practica-publicacciones":[],"class_list":["post-21715","publicacion","type-publicacion","status-publish","has-post-thumbnail","hentry","area-de-practica-insurance-law","publicaciones-ricardo-meireles-vieira","idioma-publicacion-ingles"],"acf":[],"_links":{"self":[{"href":"https:\/\/belzuz.com\/en\/wp-json\/wp\/v2\/publicacion\/21715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/belzuz.com\/en\/wp-json\/wp\/v2\/publicacion"}],"about":[{"href":"https:\/\/belzuz.com\/en\/wp-json\/wp\/v2\/types\/publicacion"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/belzuz.com\/en\/wp-json\/wp\/v2\/media\/18937"}],"wp:attachment":[{"href":"https:\/\/belzuz.com\/en\/wp-json\/wp\/v2\/media?parent=21715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/belzuz.com\/en\/wp-json\/wp\/v2\/categories?post=21715"},{"taxonomy":"area-de-practica","embeddable":true,"href":"https:\/\/belzuz.com\/en\/wp-json\/wp\/v2\/area-de-practica?post=21715"},{"taxonomy":"publicaciones","embeddable":true,"href":"https:\/\/belzuz.com\/en\/wp-json\/wp\/v2\/publicaciones?post=21715"},{"taxonomy":"idioma-publicacion","embeddable":true,"href":"https:\/\/belzuz.com\/en\/wp-json\/wp\/v2\/idioma-publicacion?post=21715"},{"taxonomy":"areas-practica-publicacciones","embeddable":true,"href":"https:\/\/belzuz.com\/en\/wp-json\/wp\/v2\/areas-practica-publicacciones?post=21715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}