Jo Chipchase
WITH Spain having one of Europe’s harshest tax regimes, that can drain the funds of small business owners and retired people alike, many British expats and Spanish nationals are looking to Portugal for a tax situation that will improve their lives.
The opportunities arising from Portugal’s Non-Habitual Residence (NHR) tax scheme will be explained by expert speakers from the Portuguese offices of financial companies and law firms at a seminar taking place in Marbella on Friday November 25.
The NHR tax scheme offers new foreign residents an effective tax holiday for the first 10 years of the residency, with pension income taxed at a flat 10% and other passive income -such as dividend proceeds – taxed at 0%.
Information will also be provided about the D7 and Golden Visa residency options, as well as advice about legal requirements, insurance, and real estate.
Companies taking part in the event include Sovereign Group, Martinez Echevarria lawyers, C1 Brokers insurance experts, Fine & Country Algarve estate agents and the Ombria Resort.
The event is organised by Bruce Hawker, CEO of the Open Media Group – Portugal’s leading publisher of foreign language media.
He comments: “The event will answer questions from people who are interested in moving to Portugal. Having spoken to estate agents and other partner companies, we identified an increasing demand from residents of the Costa del Sol, who are attracted to Portugal by the tax breaks. These people are of all nationalities, including Spanish.”
Open Media Group holds seminars in Portugal and other countries, including the USA. The Living in Portugal events are run in association with the Algarve Regional Tourism Board and co-financed under the Portugal 2020 EU funding programme.
Two identical seminars will take place at the Don Pepe Gran Melilla Hotel, Marbella, on November 25: one at 11am and another at 3pm. Before and after each session, guests can talk to the various event partners.
Anyone who wants to attend can book free of charge at www.portugalseminars.pt . The information line is +351 282 341 310.
READ MORE
Andalucia in Spain set to enjoy record budget next year after 25% leap in tax revenue
Explainer: the Spanish government’s latest tax plans
