The Portuguese Parliament approved this Wednesday, by consensus and in generality, the revision of the Foreign Exchange Law submitted by the Government, aiming at the "debureaucratization of the business environment" and the strengthening of the "fight against terrorism and money laundering"..

Reacting to the approval of the changes to the legal provision, the Minister of Justice, Constitutional and Religious Affairs, Helena Kida, who defended the document in parliament on behalf of the executive, said that the country now has a more robust and modern regulatory framework, "in line with technological changes and the fluidity of international transactions.

The parliament also approved the new bank account legal regime, which lowers from 21 to 18 the minimum age for opening an account without the authorization of a legal representative.

Between the ages of 15 and 18, persons who obtain authorization from a legal representative, according to the approved regulatory framework, can be bank account holders.

The changes in the age for opening a bank account aim to follow the country's "age pyramid", characterized by a mostly young population, justified the Minister of Justice.

The law introduces a unique bank identification number for accounts opened at different financial institutions, in a measure aimed at making it easier to open a bank account.

According to Lusa, the proposals for revision of the Foreign Exchange Law and the bank account legal regime still have to be approved in specialty by the parliament and then promulgated by the President of the Republic for them to come into force.