The Portuguese government has introduced a wealth tax on properties valued over €600,000 (£538,572, $660,108) in a move that could benefit thousands of British expats living in the EU-member state.
Portugal’s government has removed Jersey, Isle of Man and Uruguay from its latest blacklist of jurisdictions.
Ireland’s controversial plans to impose a wealth tax on its super-rich, similar to other European countries such as France and Spain, may yield just €22m (£18.6m, $23.2m), according to a study by the Economic and Social Research Institute (ESRI).
An annual property tax proposed last week by the Portuguese government on homes worth over €600,000 (£538,572, $660,108), may be “beneficial” for some of the thousands of British expats settled there, according to two leading tax experts.
The Portuguese government is looking at plans to introduce a wealth tax on properties valued over €600,000 (£538,572, $660,108) in a move that could affect thousands of British expats living in the EU-member state.
British expats living in Europe could be hit with higher rates of capital gains tax (CGT) on their homes if Britain decides to leave the European Union on Thursday, international IFA firm Blevins Franks has warned.
Barclays is continuing to offload its non-core operations, selling its Spanish pension assets and liabilities to Vidacaixa, S.A.U. de Seguros y Reaseguros, a member of the Caixa Group.
Increasing numbers of high-value professionals are benefiting from bilateral double-tax agreements that offer Portuguese non-habitual residents qualifying income tax-free in a safe haven.
French insurance giant Axa has completed the sale of its operations in Portugal to Belgian insurer Ageas for €189m ($215m, £151m), the company has announced.
Brooks Macdonald has announced a move into Portugal with a deal making its discretionary investment services available through Generali PanEurope’s Private Wealth Portfolio (PWP).
Neuberger Berman has appointed Javier Nuñez de Villavicencio to lead its client relationship management and business development activities in Spain and Portugal.
Many UK expats based in Portugal have retained their trusts, even though the Government introduced a tax of 28% on trust distributions from 1 January 2015.
