The Palácio da Bolsa is located beside the St Francis Church of Porto, which was once part of the St Francis Convent, founded in the 13th century. In 1832, during the Liberal Wars, a fire destroyed the cloisters of the convent, sparing the church. In 1841, Queen Mary II donated the convent ruins to the merchants of the city, who decided to use the spot to build the seat of the Commercial Association.
Building work began in 1842 following the plans of Porto architect Joaquim da Costa Lima Júnior, who designed a Neoclassical palace of Palladian influence, inspired by previous structures built in the city. Most of the palace was finished by 1850, but the decoration of the interior was only completed in 1910 and involved several different artists.
