One of the tasks of an estate agent should be his ability to carry out valuations on properties. To do this properly one obviously need to have good knowledge of the local market, for that reason it is advisable to appoint somebody who is familiar with the area the property is situated in.
ALL DRIVERS of passenger vehicles and motorcycles who are 50 in 2008 must renew their driving licence this year.
The age limit for renewing driving licences was previously 65. The change aims to better control the “physical and psychological skills” of drivers in Portugal.
New road tax rules start on 1-1-2008 OWNERS OF vehicles with Portuguese plates must take note of the first registration date of their car as that is when they will need to purchase their Imposto Único de Circulação (IUC), the national road tax, formerly known as Imposto Municipal Sobre Veículos, following new rules introduced this month.
With 2007 drawing quickly to a close, it is time to think about tidying up your tax affairs before the year ends. The following is a checklist of things to consider before we enter into a new tax year.
Trusts have been a favourite vehicle in financial planning and asset protection for centuries. Tax mitigation is often the key element in setting up an offshore trust but they also offer many other benefits which you may not be aware of. They are very useful when it comes to the control and preservation of your wealth, for today and the future.
Gapital gains tax This is an article explaining the capital gains tax consequences of selling property that is in an offshore company.
The Situation
Options one and two
Option three and the conclusion
Steps to Starting a Business in Portugal The steps to take in order to establish a business entity in Portugal…
There are many organisations that can offer advice or help with starting a business. These include the office of Integrated Registration Solutions (Soluções Integradas de Registo - SIR), local Municipal Councils, local Citizen’s Shops (Loja do Cidadão) and local employment services. Some towns and cities have what are known as Business Formality Centres (Centros de Formalidades das Empresas, CFE*)*, designed to facilitate the setting up of businesses. CFEs can inform entrepreneurs about exactly what documents are necessary, can advise on the best company structure, explain the complete set-up procedure and provide contacts with appropriate government bodies.
Property Developers often sell some or all of their properties before they have finished building them. This is known as selling “Off Plan”.
The main attraction for members of the public to buy “Off Plan” is to save money. Property in Portugal is still growing in value and, by paying a deposit to secure today’s prices rather than paying a higher price at completion, profits can appear to be certain. But beware.
Portuguese property is an attractive investment because it can bring income as well as capital growth, making it potentially both a secure and profitable investment. However, with making money comes fiscal obligations.
