Portugal Wealth Management Services
Aside from the wonderful climate, beautiful sandy beaches, exquisite food and friendly people, Portugal also offers significant wealth planning opportunities.
Subject to meeting the qualifying criteria, individuals may avail themselves of the Non Habitual Residency (“NHR”) tax regime. This enables them to arrange their affairs so that they may benefit from tax exemptions in Portugal and potentially the country in which the income originates if a double taxation treaty exists.
This status may only be maintained for a period of 10 years and therefore it is imperative to maximise such planning opportunities within this timeframe.
Portugal Pensions & Investment Opportunities
Two of the most common wealth planning opportunities that exist are in the fields of pensions and investment. Individuals that have accumulated pension savings in the UK may find that they have an increased number of choices as to how they withdraw their money and the tax efficiencies that are possible, facilitated by the double taxation treaties Portugal has in place with a number of European countries.
Investments in stocks and shares may be sheltered from Portuguese tax via a concept that is also recognised by the UK tax authority. This concept makes provision for the time an individual has been resident outside of the UK to be discounted from any eventual UK tax liability once the individual has returned to the UK. Additional planning may allow such a liability to be deferred further once UK residency has been resumed.
Personal, Professional Guidance
As with all such issues, there is no “one size fits all” and it is imperative that you seek professional advice relevant to your personal circumstances.
Contact us at Abacus Wealth Management Limited to find out if we can help you. Alternatively, Abacus Financial Services Limited has an office in Almancil (The Algarve) where we are able to hold meetings by appointment. Anne Darlington, our resident Business Development Director, will be pleased to host your enquiry and can be contacted as follows:
Telephone: +351 289 394 780
Email: