OBS_VALUE:  Directive 2013/36/EU principles apply regardless the nationality of the investors.Mergers between credit institutions are subject to previous authorisation from the Bank of Portugal. Portuguese law does not establish any specific restriction on foreign ownership of banks. However, the BdP may oppose the acquisition or increase of a direct or indirect qualifying shareholding in a Portuguese bank if it would become part of a group that does not have a structure in place tSee also Directive (EU) 2017/1132 relating to certain aspects of company law. There is no restriction at a European level.hat allows for an effective supervision, or where the supervisory body of the relevant parent company will not cooperate sufficiently with the BdP.Qualified participations must be previously disclosed to the Bank of Portugal. Decree-Law 298/1992 is implementing  Directive 2013/36/EU.