Expatriates to pay at least €7,500 in income tax per year on foreign sourced pensions

With the proposed NHR changes in the 2020 State Budget, promoting Portugal as the “Florida of Europe” might soon become more difficult.

We are all caught in the frenzy of life, working diligently and vigorously in different fields and industries. While some industries may be forgiving and patient with mistakes, others may not be as patient or at all forgiving. This is mostly because of the losses that might occur in some industries, like the foreign exchange market, which would not be as costly in others. For that reason, a strict code of conduct should be followed, and some do’s and don’ts that will protect you from great losses. If you are keen to know some of these do’s and don’ts, read on!

As 2019 draws to a close, this is a good time to reflect upon the last 12 months before looking forward to the year ahead. What happened that may have affected your finances or that might need further consideration in the new year?

Portugal's burgeoning 'sharing economy' has unlimited potential to enhance and redefine the lifestyle of future generations – but demands new solutions to promote long-term financial security, according to experts.

A brainstorming ‘think-tank’ hosted by the British Portuguese Chamber of Commerce (BPCC) brought together international business leaders from the co-living, co-working, construction, property and international investment sectors. It involved delegates from Russia, Australia, Germany, Tunisia, Brazil and Angola alongside British and Portuguese counterparts.

It is likely you have put a lot of thought into your financial planning to set you up for the life you want. Have you done the same for your future heirs through careful estate planning? If so, is it up-to-date?

Writing your will is by no means the only step. Cross-border estate planning is complex and there are various things expatriates in Portugal should consider, including local succession law, taxation and wealth management across generations. A good start is asking yourself some key questions.

If you have moved to the Algarve or are planning to relocate, you will appreciate it is a beautiful place to live. With careful planning, Portugal can offer many financial advantages too. These key considerations can help you avoid costly mistakes while making the most of tax-efficient opportunities in Portugal.

For a long time, UK property owners who lived permanently overseas did not need to worry about UK capital gains tax when selling the property. However, in recent years, significant changes have seen most non-residents come into firing range for this tax. 

If you own UK property, make sure you understand the tax implications and what you can do to minimise taxation and take advantage of tax-efficient opportunities in Portugal.

UK Political Drama Inspires Sterling Volatility 
Staying on top of the latest currency news can help you time your transfers more effectively, so find out what you should be looking out for over the next couple of weeks…