There was a time in which not a single Spanish law firm that prided itself would pass on the opportunity to heartily recommend its affluent non-resident client base (and even foreign residents) to acquire and own property in Spain by means of corporate structures ranging from the simple to the overtly complex often involving a multijurisdictional approach.
Further to the recent negotiations on the 2013-2014 budget, the new Bill of 17 July 2013 imposes a notification measure re private estate and off-shore structures in which Belgian tax payers are, directly or indirectly, involved.
Salaries go down as Social Security goes up Private workers will lose one salary, whilst public employees will lose two
It was the first time that a Government measure was received with such unanimous opposition, but when Pedro Passos Coelho announced last Friday (September 7) that all workers would see their monthly contribution to Social Security increase by seven percentage points as of 2013, everyone – regardless of their political stance – agreed to disagree with the Portuguese Prime Minister.
In December 2003, new rules concerning municipal property tax (Imposto Municipal sobre Imóveis) came into force. A new code was also approved: the Código do Imposto Municipal Sobre Imóveis (CIMI).
Together with the proposed 2012 Portuguese Budget is a document proposing rectification to the 2003 general property reform. The 2003 changes established a 10 year period to achieve a general revaluation for tax purposes of all property in Portugal.
Unfortunately these things happen here as well.
The legal procedures for termination of a marriage agreement by divorce can be relatively straight forward if both partners agree to divorce, are of the same nationality, were married in Portugal, and have nor children or financial commitments. However, for foreign residents living in Portugal this will rarely be the case.
Agents face a world of lower commissions New ways of working are imposing a world of lower commission rates on overseas property agents.
Online marketing, online lead generation, the economic slump, more sophisticated buyers questioning agency or introducer payment terms, smaller down-payments and a glut of bank repossessions are all combining to push average commission rates down to low single figures in a number of key markets.
Portugal the last couple of years tries to be a front-runner when it comes to using alternative energy sources. With well over 3000 hours of sunshine no doubt our country offers a lot of possibilities in this respect.
Importation/Registration Acquiring a Vehicle in Portugal The easiest way of acquiring a vehicle with valid Portuguese registration documents is to purchase a new vehicle from an authorised agent in Portugal who will register the vehicle for you. This has the added advantage of having agents close by to provide service, guarantees, and spare parts.
