Premier FX Limited – In Administration (“the Company”)

UPDATED CUSTOMER FAQs

The Portuguese government is launching a new citizenship card for registered foreigners in Portugal, as part of the 'Simplex + 2018' programme. The aim is to streamline administration of all foreign citizens and reduce much of the country's bureaucracy. The Ministry announced that the new card will be issued in the final quarter of 2019.

Instead of the current 'residency card', by the end of 2019, all foreign nationals living in Portugal will need to have a valid Citizen's Card (Cartão do Cidadão).

Regarding the appointment of administrators to deal with the shock collapse of Premier FX, Jeremy Boyle of Summit Law LLP writes, "This is potentially welcome news but please forgive me for being cautious - it’s my job!

"For nearly 3 decades I have been advising numerous trustees in bankruptcy, liquidators and administrators and creditors such as yourselves on all aspects of insolvency law.

As one of the major providers of fiscal representation and tax assistance for foreign residents and non-residents we are looking to acquire similar businesses.

If you are interested and wish to sell either your business or your portfolio, why not get in touch for a confidential exploratory conversation?

The main objective of the Agreement on the Avoidance Double Taxation is to eliminate double taxation of income or gains arising in one country and paid to residents of the other country.

This will create a conducive environment for investments and trade in goods and services between the countries by removing uncertainties on taxation occasioned by having two different jurisdictions at play.