Portugal has published Ordinance No. 292/2025/1 of 5 September 2025, which amends the list of countries, territories, and regions with privileged tax regimes (Ordinance No. 150/2004 - Original - Consolidated). In particular, Ordinance No. 292/2025/1 provides for the removal of Hong Kong, Liechtenstein, and Uruguay from the list with effect from 1 January 2026.

Residents of jurisdictions incl…