1. Where do you stand financially?
2. Where to you want to go, and how can you get there?
Let us help you with a comprehensive approach to financial planning. We can provide you with sound advice for your financial life, be it on income tax, your retirement, estate planning and investment management.
We take pride in our independence, placing great emphasis on impartial recommendations and personal service. We speak your language!
You are faced with unfamiliar obligations in a new land?
You want a smooth transition from the past to a sound financial future?
Established in 1991, euroFINESCO, helps expatriates to make the most of their new life in Portugal. We are a full service company – ask us, we can assist you! We can be your one-stop-shop for advice and information, based on our long experience and extensive knowledge of the country and the way things are done.
euroFINESCO is here to guide you, keep you compliant and prepare you to meet your goals. For your daily life, a Tax Number, Residency Certificate and a Health Card can be indispensable. If you drive, you need to register your foreign driving license, and so on. We are here to help you cut the bureaucracy – been there, done it!
Portuguese Income Tax
Cross Border Estate Planning
Evaluation - Analysis - Implementation
Bilateral Tax Treaties - Tax Residency and Compliance Matters
euroFINESCO is a also recognised leader in Property Company representation, whether it be Portuguese compliance requirements, redomiciliations or domiciliary services.
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The Stability Program for 2019-23 anticipates €31 million in additional tax revenues from the new maximum tax bracket for AIMI, applicable to Ratable Values (“VPT”) above €2 million. The Additional to Municipal Property Tax was first created in 2017 targeting luxury properties. Beyond the standard “IMI” assessment, Companies are charged AIMI at a rate of 0.4% on the sum of the Ratable Values of these properties. Residences held by entities in tax havens pay 7.5%. In the case of individual ownership, an AIMI rate of 0.7% is applied on “VPT” totals above €600,000 (or double this amount for married and cohabiting couples who opt for joint “IRS” declarations). When the “VPT” values exceed €1 million, the tax rate increases to 1%. The new bracket, created in the recent State Budget to be applied for the first time in 2019, foresees an AIMI tax rate of 1.5%, applicable to “VPT” amounts above €2 million.
Since joining the European Union, Portugal has benefitted from extensive economic support. According to the Bank of Portugal, Portugal has received a total of €130 billion since 1986 or ±2.5% of GDP per annum. Portugal ranks amongst the highest among countries with EU subsidy allocations. Nevertheless, the movement of money is reciprocal. Portugal also sends funds to Europe: customs duties, agricultural charges, VAT and others. Between 1996-2018, annual transfers have been relatively constant at ±1% of GDP.