in Business ·
23-10-2020 01:00:00 · 0 Comments
Sovereign – Assisting property owners in portugal since 1999
Property ownership in Portugal is for many the fulfilment of a dream, whether the property is purchased for investment, for holidays or as a home in which to live a more relaxed lifestyle!
Sovereign will assist you from the start of your purchase and continue to support you to ensure that you are fiscally compliant so that you can relax and enjoy your new purchase.
Fiscal number application
Without a fiscal number you cannot buy a property or open a bank account in Portugal.
Sovereign will apply for your fiscal number from the tax department and register as your fiscal representative to receive future correspondence from the Portuguese tax department, which will include the annual IMI and AIMI property tax bills.
Sovereign can appoint a lawyer on your behalf to undertake the necessary conveyancing to ensure the legality of the property, to prepare the promissory contract, pay the IMT purchase tax, complete the purchase deed and register the purchase at the tax department and land registry.
Sovereign works closely with lawyers all over Portugal to assist them and their clients with their fiscal queries.
Residency in Portugal
Sovereign will establish how best to structure your existing assets with end to end solutions for establishing residency through the NHR scheme, with its ten years’ benefits, D7 Visa and Golden Visa applications and all matters relating to residency.
Sovereign will provide you with a personal tax assessment and simulation which will consider your worldwide income and will indicate your likely tax situation as a resident.
As the proud owner of a property in Portugal you may consider renting it out to provide a steady income to assist with the running expenses. Rental income must be declared in Portugal even if the rentals are administered and funds received outside Portugal.
Sovereigns’ team of English-speaking accountants and administrative personnel will apply for the rental licences, register rental contracts and submit your rental income tax declarations. Whether for long term rentals or short-term rentals, Sovereign will ensure that all your fiscal obligations are met.
There has never been a better time for reassessing your lifestyle choices and for taking advantage of owning a property in Portugal. With its wonderful climate, exceptional cuisine, friendly people, amazing culture, sandy beaches and world class golf courses it is not surprising that in the InterNations ‘Expat Destinations 2019’ survey Portugal scored highest in its global ‘quality of life’ index. International Living further named Portugal as the best country to retire in for 2020.
The Sovereign Group has offices worldwide which can further assist you with any cross-border tax and retirement planning and wealth management.
Contact Sovereign today for more information on our special offers and we will help you to achieve your dream by maximising your tax benefits while maintaining full international compliance.
Serviceinfo@sovereigngroup.com / (+351) 282340480 / SovereignGroup.com
Interactive Topics, send us your comments/opinion on this article.
Credit: Source link