By Teresa Empis Falcão, Ana Luís de Sousa
What types of collateral and security interests are available?
Under Portuguese law, various types of security and collateral may be given to secure loans, notably mortgages on real estate and certain movable assets subject to registration (such as automobiles, ships and planes), and pledges on movable assets in general, including pledges on equipment, receivables, bank accounts, credits, deposits and shares (including new shares to be acquired).
The law generally requires the secured assets to be determined (although security on future assets and credits may be permitted in specific situations). The concept of floating charge generally does not apply under Portuguese law.