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…
The past month was marked by significant volatility in the pound in response to a flurry of UK political developments. This saw the GBP/EUR trade between 1.09 and 1.13 with EUR/GBP retreating to 0.88.
Meanwhile, GBP/USD climbed from 1.21 to 1.25 having struck a three-year low of 1.19 along the way, whilst EUR/USD held steady at 1.10.
Portugal, Italy, Ireland, Greece and Spain, dubbed by the media as 'PIIGS', were deemed to be the culprits responsible for the eurozone crisis, due to their overspending. But is the picture obscured?
