Non-resident couple´s rental income(1) Monthly Rental Income(2) 1,500 6,000 12,000 Annual Rental Income 18,000 72,000 144,000 Less Expenses(3) (1,000) (3,000) (6,000) = Taxable Income 17,000 60,000 138,000 Income Tax(4) Flat Rate 28% 4,760 19,320 38,640 Annual Income Tax Due 4,760 19,320 38,640 Tax Due as % of Gross Income 26.44% 26.83% 26.83% DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on May 26, 2016.
This bulletin provides information on the types of medical insurance available in Portugal and outside for Portuguese residents. The immigration authorities require foreigners wishing to take out a resident’s permit to have health insurance protection. For EU citizens the National Health Service protection from their country of origin is normally adequate. For non-EU citizens, however, private medical insurance is mandatory. Even for EU citizens additional protection may be considered desirable and many such as residents take out private health insurance policies. This Bulletin discusses some of the factors to consider when choosing a policy. In all cases, afpop recommends that members take professional advice before making a final decision.
Diário da República, 1st Series— Nº 178 — September 14, 2009
ECONOMY AND INNOVATION MINISTRY Decree-Law nº 228/2009 of September 14
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ANNEX Republication of Decree-Law nº 39/2008 of March 7
Recent speculation and articles in the local (Algarve) press that Delaware may have been blacklisted by the EU caused a great deal of concern amongst Algarve property owners whose properties are held in Delaware companies. Now that the list has been published, with no mention of Delaware, the Algarve Resident requested clarification of the current situation from both EuroFinesco and The Sovereign Group.
Only a few decades ago, bearer shares were the normal way to establish ownership rights in a company. When you incorporated a company, you received share certificates with no one’s name recorded on it. Whoever possessed the certificate controlled ownership.
Much has been said and written about the question if it wise and advisable to bring an off-shore company on-shore. The leading companies in the Algarve dealing with this have/had different opinions on this matter.
Offshore Property Companies - storm clouds on the horizon For many years, Offshore Property Companies have been a popular solution, although sometimes practices could be a bit “grey” in nature. Due to repeated problems with tax evasion, Portuguese legislation eventually changed, penalising these structures, writes Dennis Swing Greene.
CAR DOCUMENTS
Cars that were registered or changed ownership before November 2005 will have to documents, Titulo de Registo de Propriedade (blue) and Livrete (green). After November 2005 a new document “Documento Único” was introduced to substitute these too which will be done gradually as the cars are re-registered. The Police may ask for these to be shown at any time. They are also required for taxing your car annually, for the roadworthiness tests, and when you come to sell.
