Neill Lochery on Portugal's gold dilemma
After Germany invaded and conquered France in mid-1940, HICEM decided to close its Paris offices and move them to Lisbon, Portugal. Portugal, a neutral country, was friendly with the Allies and had an officially recognized Jewish community. Thus, HICEM simply functioned as the immigration section of the Jewish community council. In addition, because Lisbon was a neutral port, by July 1940 it became the foremost route for Jews to escape Europe for North and South America. Other organizations also moved their European offices to Lisbon at that time, including the American Jewish Joint Distribution Committee (known as the JDC or Joint) and the American Friends Service Committee.
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Letter by Saint Exupery
Milgram on Portugal and the Refugees 1938-1941