Want to work as a credit manager for an intermediary or set up your own intermediary business? The training requirements differ by role. Here, “credit manager” means an employee of an authorised intermediary who works on mortgage credit intermediation or advice. Under the professional certification route, that employee needs only “Marketing of mortgage credit”. Under the same route, someone applying for authorisation in their own name, or serving on the management body of a mortgage credit intermediary, also needs “Credit intermediation”.
Banco de Portugal sets out the knowledge and competence requirements. The route depends on your academic background, the credit products you intend to cover and, if you apply through a company, the people who will perform the relevant roles.
Want to work as a credit manager: is one course enough?
Yes, as far as training under the professional certification route is concerned. According to Banco de Portugal and Article 3 of Ministerial Order 385-B/2017, professional certification for an employee involved in mortgage credit intermediation or advice requires only “Marketing of mortgage credit”. The “Credit intermediation” course is not required for this employee.
This rule does not apply to someone seeking authorisation as an intermediary in their own name or setting up an intermediary company. Completing the course alone does not allow an employee to operate independently.
Want to set up an intermediary: which courses do you need?
For an applicant acting in their own name or a member of the applicant company’s management body, the combination of courses under the professional certification route depends on the credit agreements the intermediary intends to cover:
| Intended activity | Training under the professional certification route |
|---|---|
| Consumer credit only | Credit intermediation + Marketing of consumer credit |
| Mortgage credit only | Credit intermediation + Marketing of mortgage credit |
| Mortgage and consumer credit | All three courses above |
This distinction is set out on Banco de Portugal’s authorisation page. Ministerial Order 385-B/2017 defines the content and a minimum duration of 25 hours for each training component. The components may be delivered in a single training programme or separately, provided each meets its required content and duration. Before enrolling, check that the training covers the type of credit you plan to work with.
Exception for consumer credit only: Article 11 of Decree-Law 81-C/2017 allows the applicant’s or directors’ knowledge and competence requirement to be met by appointing at least one qualified technical manager. Under the professional certification route, that person needs “Credit intermediation” and “Marketing of consumer credit”. This exception does not apply to applications that include mortgage credit.
If you already hold one of the qualifications recognised by law and its curriculum covers the required minimum content, you may meet the requirement through that route. Check your situation before enrolling in the courses (Article 13 of Decree-Law 81-C/2017).
Does a course authorise you to operate?
No. Training is one requirement. To operate as a credit intermediary, you need authorisation and registration with Banco de Portugal. The application also covers other conditions, including good repute and suitable organisation. An employee works within the authorised intermediary; their certificate does not authorise them to operate independently.
A useful sequence is to define the activity you intend to carry out, establish how you will demonstrate the required knowledge, prepare the other conditions and then apply for authorisation. Check the steps and documents on Banco de Portugal’s authorisation page.
If you are unsure whether your qualifications meet the requirements or which documents to submit, you can request legal support for the licensing process. This support can help you prepare the application, but Banco de Portugal makes the authorisation decision.
Official sources
- Banco de Portugal — Authorisation of credit intermediaries
- Banco de Portugal — Guide to accessing credit intermediation
- Portuguese Official Gazette — Consolidated Decree-Law 81-C/2017
- Portuguese Official Gazette — Ministerial Order 385-B/2017
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