Discussions

Hi, Does anyone have any information on current policy for Invoicing/Payment of IMI, I have not received this year's Payment Invoices at our UK Address. Has Policy changed because of Brexit!, or is there a delay due to COVID19 ? Would be useful to know, any information appreciated,

Hican someone advise me?. I moved here 2 years ago to Albufeira, bought a nice mid terrace in a condominium. The “condominium” rules say that each household must do the administration in order of condo address A - T, 20 houses within the condo. Rules state everything must be in Portuguese like MoM etc. There is a need to interact with all property owners, contractors where work needs doing etc. Its impossible I do this as I cannot read, write or speak Portuguese (I’m trying to learn, but not proficient enough for this), on the other hand my wife is Portuguese, but she left school at 14 and worked in a café for30 years, can’t use a computer, has no admin skills etc. The Condo are telling us that if we don’t take our turn to run the condo admin that we have to pay double the yearly fee!!. €600 + €600!!To note, those that are capable and do the admin do not pay the yearly fee which I agree. But can they force  us to pay double the fee if we are not capable of doing the job?.someones advice would be helpful here. 

Does anyone know how many years you need to keep all the tax paperwork for a self employed business?

Can anybody advise me of the fors and against in starting a business in algarve portugal

We are British and have an apartment in Lagos.  We only recently heard about NHR and wonder if we would be eligible for it.  We are not able to retire for 3 years and only spend about 15 weeks a year in Lagos.  We are worried about our rights to remain in Portugal as second home owners post Brexit.  We would really like a recommendation for an adviser we could speak to in the Lagos /Portimao area.  Alternatively a reputable company we could deal with over the phone or internet.  Many thanks.

Hi we need to do a tax return for our rental property for the first time.  Is there anywhere that we can find out how to do this or do we need someone to do it for us and if so, any recommendations?thanks for any help in advance. Karen 

Hi.I'm just a new member and am interested in establishing non-habitual (NHR) residency in Portugal for the obvious, simple tax benefitsCan anybody please tell me of any reputable English-speaking accountant/lawyer/solicitor who could help me with my application for NHR?

I think the life insurance attached to my mortgage on my apt is way too high at 73 euro per month and I only have 57000 outstanding on my mortgage, can anyone ready recommend a better company to use for this..thanks in advance. John

I  have a financial question.We are tax residents in portugal.We have a rental flat in the UKon an interest only mortgage which for the last 7 years, we haven't made any income on, as the interest only mortgage and expenses have been more than the rental income. Recently, last year in fact,  they changed the law in the Uk to make all income from rental be seen as being taxable, whereas in the past we could offset our mortage expenses against it, but not any more,We obviously do tax returns in each country, but this year, although we have received no income, the Portuguese financas say  we owe them tax against that income, even though we haven't in reality had any income from our rental, so we have had a bill for 1,200 euros we weren't expecting.Can anyone comment on this for us, please?

Can someone explain please what expenses we will incur when selling our property in the Algarve.Also, do the Portuguese government keep hold of a percentage if you move out of the country.

Hello Does anyone know when selling a property what the legal policy is regarding the signing of a promissory note and the buyer paying a deposit for property in PortugalShould the whole of the deposit be paid to the seller or does the agent keep 50% of the depositThanks 

I am experiencing issues with my condominium management company in that they run the AGM in Portuguese (this does not allow English participation). Some owners are Portuguese but a lot of English/Irish also. They will not provide minutes of the AGM in English either (only a short summary). Are there any laws governing this?

Can anyone recommend a good attorney to help me with the visa process in the Algarve area?  I am a U.S. citizen currently in Ecuador but wanting to move to Portugal in 2018 to live.

Does anybody know if you sell your only property in Portugal and move to another Eu country, that you have to pay capital gains tax of 28% on any gains?

Does anyone know, if you live in Portugal but work freelance for UK companies, do you only register to pay tax on that in the UK?Is there any tax advice you'd give to us as new to relocating to the Algarve in August this year?

(Note from Editor: While Algarve Live community platform is undergoing an upgrade we are pleased to post here this news from Premier FX)   The acquisition adds breadth to Premier FX’s customer base and provides expansion into new industry sector.Almancil, Algarve, Portugal –  Premier FX, the boutique currency exchange company headquartered in London, England, with offices in the Algarve, Portugal and Palma de Mallorca, Spain, are pleased to announce the recent acquisition of UK-based Global Currency Service Limited.  GCSL is a 13-year-old specialist foreign exchange company for private and corporate clients, with a solid reputation serving the media and entertainment sectors.  Both brands will remain separate and both companies will be directed by Peter Rexstrew, owner and CEO of Premier FX."We have been working with GCSL closely now for two years and it seemed the right time to complete this acquisition,” said Rexstrew.  “The brand is well known in the media sector, and the company has an established client base.  Bringing GCSL together with Premier FX seems a natural fit.”Peter Rexstrew will join the board of GCSL as CEO and owner.  Former GCSL owner David Baker will remain with the company to maintain a seamless transition period for GCSL clients."David has a wealth of experience in foreign exchange, and has built a successful business with GCSL,” comments Rexstrew.  “His knowledge and continued guidance is greatly appreciated as we grow the GCSL brand and business."“I’m pleased that GCSL will carry on with such a respected company as Premier FX,” says Baker.  “I have no doubt that existing customers will continue to receive first-class service, and that the company has an opportunity for increased growth in the marketplace.”    Already, a rebranding effort has led to a new design for the GSCL logo and the launch of a new company website.  GCSL has three employees.  The company operates out of Premier FX offices in Reigate.  About Premier FXFounded in 2006, Premier FX is an internationally-renowned foreign exchange remittance company.  Premier FX offers personalized, professional currency solutions for private and corporate clients, from offices in the Algarve, Portugal, Palma de Mallorca, Spain, and London England. Premier FX is authorised and regulated by the UK Financial Conduct Authority, under firm reference number 530712, and can fully utilise the world's best financial services infrastructure for the benefit of clients. www.PremierFX.comAbout Global Currency Service LimitedSince 2004, Global Currency Service has offered currency exchange services to private individuals in the UK, and companies doing business international sphere.  In recent years, GCS has developed a special emphasis on money transfer strategies for the media sector working in overseas locations.  GCSL is a UK registered company.  It is authorised by the Financial Conduct Authority as a payment services institution, under firm reference number 535671. www.GlobalCurrencyService.com

I understand that it's fairly easy to open a company, but i can find simple information about how to do it. Can it be done online, or do you need a lawyer. There is also conflicting information about needing 5000 euro vs 2 euro nominal capital.

We are looking to convert a bar to a daytime tapas bar. Any advice for things to remember and/or avoid?

Hi!  We are planning to purchase an apartment in Lagos soon and are looking for an English speaking solicitor in the town.  Any ideas?  Many thanks.