Law 92/2017 on combating money laundering, enacted on August 14 by the President of the Republic, entered into force on Wednesday, August 23.
It will be prohibited to make payments in cash above 3000 euros, even in goods or services contracted at an earlier date. The law states that “it is prohibited to pay or receive cash in transactions of any nature involving amounts equal to or greater than 3000 euros, or its equivalent in foreign currency”.
For payments of taxes, the ceiling of the payments in cash is of 500 euros.
The limit is € 10000 for citizens who are not resident in Portugal if they do not act as entrepreneurs.
Transactions made in cash above legally established limits are punishable by a fine of 180 euros to 4500 euros.