The Catholic University of Portugal (UCP) is the only concordat university (non-state-run university with concordat status) of the Catholic Church in Portugal. It is a “free” and “autonomous” university “of public utility” recognized by the Portuguese State. UCP was established in 1967 by decree of the Holy See, and gained official recognition later in 1971. It is the best Portuguese university according to Times Higher Education World University Ranking. The university is also listed in the prestigious QS World University Rankings. Furthermore, according to Financial Times rankings, its School of Business and Economics is one of the best business schools in Portugal and in Europe.