João Riscado Rapoula, Miguel Gonzalez Amado and Ana Francisca Ribeiro have authored an article in International Tax Review examining the first three years of Portugal’s stock option regime, in force since 2023, assessing its practical impact and the key challenges arising from its implementation.

In 'Three years of Portugal’s stock option regime: practical insights and key takeaways', the VdA lawyers explore how the regime has reshaped the taxation of employee equity, designed to enhance the competitiveness of Portugal’s business ecosystem and support talent attraction and retention.

Three years on, the regime reflects meaningful progress but also raises practical and interpretative challenges, particularly in relation to pre-2023 plans, the minimum holding requirement and the exit tax mechanism. The article highlights areas requiring clarification and potential refinement to further strengthen Portugal’s position as an attractive and competitive hub for talent and innovation.

• The full article is available here.