Although the UK formally left the EU on 31^st January, the transition period means that little has changed for citizens and businesses so far.  It was meant to provide 11 months for the two parties to negotiate the new trade deals that will determine their future relationship. Even under usual circumstances, many spectators argued that this was insufficient time given the scale of negotiations – and we now know that these are far from usual conditions.  

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.

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…

Financial management is a skill that everyone needs to know in order to secure a good future. Financial management however needs a good understanding of your financial situation, mastering the plan and committing to the plan. Money management can be a lot easier than it sounds.

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.

Understandably during this global health emergency, normal life has been paused while priorities have shifted. With all that’s been going on, it is easy to forget that the Brexit transition period is still due to end in just a few months, on 31 December. Reassuringly, we now know that if you are lawfully settled in Portugal before then, you will be able to enjoy uninterrupted residence rights. But with no certainty on what form Brexit will take from 2021 – or whether the UK will even leave with a deal – there are still many unknowns.

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…

After three years of uncertainty the UK has now left the EU!  How will this affect UK residents that have assets in Portugal?

Since 2002 it had been obligatory in Portugal for any non-resident person who owned property to appoint a fiscal representative to receive correspondence from the tax department and ensure that the fiscal responsibilities of clients are fulfilled – submitting the necessary tax returns and paying all taxes.