Financial advice in Portugal
Latest articles about Financial advice in Portugal
If you have a second house in Portugal, it may often necessary to send money there to pay for bills, taxes and other living expenses, but it’s sometimes difficult to know how to do it, whether with banks or with money transfer companies.
Home loans (and other types of loans) are becoming more and more complex, with contracts written in excessively technical language that seems like it’s deliberately difficult for the consumer to understand, so you can’t make a truly informed decision between different banks and compare their mortgag
The difference between buying a house in Portugal being a resident or not depends on the purpose of the house. If you buy a house to live in Portugal, you are buying a permanent home and are a resident, but if you do not live in Portugal and you buy property there it will count as a second home.
Property owners in Portugal who take out home contents insurance cannot deduct it from their property income when they file their IRS income tax returns, because it is considered to be an optional extra by the tax authorities.
The Addition to the Municipal Property Tax (Adicional ao Imposto Municipal de Imóveis or AIMI) is, as the name implies, a tax levied on real estate assets. It was created relatively recently, in 2017, and many property owners in Portugal don’t know they have to pay the AIMI.
Are you going to change houses, selling one and buying another, but are worried about the capital gains tax to be paid?
The Portuguese Tax Authority (Autoridade Tributária or AT) closed 2018 with a cash inflow of 31.5 million euro from revenue from the Municipal Property Tax (Imposto Municipal sobre Imóveis or IMI) paid on dilapidated, vacant or ruined property.
Portugal as a country is on the right track economically, but there is still much to do to promote more inclusive and sustainable growth.
We all want to be warm this winter, but sometimes cranking up the thermostat can leave you with a hefty fuel bill at the end of the month.
The new year brings with it new goals and desires, be it eating healthier, going to the gym or running more. Still, it’s important not to forget about personal and family finances, and to still be ready for any future eventuality.
Portugal’s tourist accommodation business is booming, with short-term tourist lets becoming ever more profitable and popular. This sector is known in Portugal as Alojamento Local (AL) and the fees property owners pay to booking websites are now exempt from taxes.
Retirement age is finally here, and you have big plans – moving to Portugal. And we salute you for your wise decision. With 3000 hours of sunshine per year, some of Europe’s most stunning beaches, beautiful cities and friendly people, Portugal sounds like the right choice.