Sovereign’s office in Lagoa, Algarve, was established in 1999 specifically to meet the growing demand for fiscal assistance from foreign investors and retirees wishing to invest or live in Portugal.
As well as assisting and guiding clients through the complex application processes under Portugal’s popular non-habitual resident (NHR) and ‘golden visa’ schemes, Sovereign provides continued fiscal support for clients that require ongoing fiscal representation and accounting services for the renting out of their Portuguese properties and submission of their tax returns.
Portugal’s residence schemes are attracting more and more people looking to move to or invest in the country, bringing much needed income to Portugal’s economy. Since 2009, when the scheme started, around 28,000 people – including some 9,000 pensioners – have moved to Portugal under the NHR scheme.
Many successful NHR applicants have found that the quality of life as retirees living in Portugal far exceeds their expectations, and not just because their pensions go so much further. Portugal is also one of the safest countries in the world and has an internationally acclaimed and affordable healthcare system.
In addition, Portugal issued more than 8,200 golden visas between 2012 and 2019, bringing in investment of just under €5 billion. 2019 was also a record-breaking year for company formation and Portugal’s attractiveness remains strong with short-term investment plans among the highest in Europe.
High perception ratings on key structural factors such as quality of life, social stability, infrastructure and local labour keep fueling Portugal’s appeal to investors globally, underpinning the country’s resilience to external pressures.
There are many reasons to consider taking advantage of Portugal’s NHR and golden visa schemes. Apart from the obvious tax benefits, there is Portugal’s wonderful climate, food, people, culture, beaches, and golf courses!
Sovereign – Consultoria Lda has been able to build very close relationships with local tax departments and other institutions. This enables us to keep up to-date with the ever-changing fiscal demands placed on resident and non-resident clients.
For more information contact Sovereign on serviceinfo@SovereignGroup.com
The information provided in this article does not constitute advice and no responsibility will be accepted for any loss occasioned directly or indirectly as a result of persons acting, or refraining from acting, wholly or partially in reliance upon it. © Sovereign Media (IOM) Limited 2020
