Archive for October, 2017

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Recording of Webinar on Non habitual residents in Portugal

In on October 24, 2017 by NEWCO

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The recording of our webinar on Non habitual residents in Portugal is now available.

In this webinar, our Managing Partner Frederico Gouveia e Silva explained the benefits of the special tax regime for non habitual residents in Portugal and the opportunities it offers for international investors.

Watch the recording.

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    Portugal wins main “Tourism Oscars” 

    In on October 23, 2017 by NEWCO

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    The festivities on the occasion of the 24th World Travel Awards (WTA), held in Saint Petersburg, Russia, on the 30th of September, saw the Portuguese colours flying high, as the country won the award as Europe’s Leading Destination for the first time. In addition, Madeira took the prize as Europe’s Leading Island Destination for the fourth time.

    Created in 1993, the WTA, also known as the “Tourism Oscars” take place annually to “acknowledge, reward and celebrate excellence across all sectors of the global travel and tourism industry.”

    At this year’s event, Portugal took first place in no fewer than 37 categories, including Europe’s Leading Cruise Port (Lisbon) and Europe’s Leading Beach Destination (the Algarve), putting Portugal firmly on the map as one of the top destinations in Europe and the world. Madeira fended off competition from the Azores, the Balearic Islands, the Canaries, Cyprus, Crete, Guernsey, Jersey, Malta, Sardinia and Sicily to take the prize as “Europe’s Leading Island Destination” for the fourth time, having previously won in this category in 2016, 2014 and 2013.

    These prizes confirm the country’s fine form as it gains international prestige and recognition, as happened at the beginning of September when it was voted as the European country with the best quality of life for ex-pats, according to the “Expat Insider 2017”.

    Added to these characteristics which, in and of themselves, justify a new life in Portugal, are the tax benefits on offer. These are the icing on the cake for anyone planning to invest and live in Portugal, Madeira included.

    For more information about the benefits of this special tax regime and the opportunities it affords for international investors, sign up for our New Webinar: Non-habitual residents in Portugal.

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    Portugal: Regulations on the Conversion of Bearer Securities into Registered Securities

    In on October 3, 2017 by NEWCO

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    Following the publication of Law 15/2017 of 3 May, which prohibited issuance of bearer securities, Decree-Law 123/2017 of 25 September has now been published, regulating the framework for converting existing bearer securities into registered securities.

    Under this legislation, all bearer securities must be converted into registered securities by no later than 4 November 2017.

    Bearer securities that have not been converted into registered securities by that date cannot be transferred and the respective owners are prevented from receiving dividends or other income until such a conversion is made. Notwithstanding, the respective owners shall always be entitled to request that the securities be registered in their name.

    Without prejudice to the option of “normal” conversion, the simplified conversion process allows for the changes that are made to the memorandum of association to be decided by the company’s administrative body, and a notice informing their owners of the conversion process shall be published. Company registration acts and the necessary publications shall be exempt from payment of any fees.

    Our clients who find themselves in this situation, namely in which the shareholder capital of their company is represented by bearer securities, shall be contacted by NEWCO in due course.

    Please see the full text of the Decree-Law here.

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    New webinar: Non habitual residents in Portugal

    In on October 2, 2017 by NEWCO

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    Tuesday, October 24th at 3 pm GMT

    The characteristics of Portugal and its various regions are reason enough to justify a new life in this country, but the tax advantages on offer are the icing on the cake for anyone who wishes to invest and live in Portugal, including Madeira.

    In order to attract high net worth individuals to Portugal, a new and more favourable personal income tax regime (IRS) was created. This special tax regime, applicable for a period of 10 consecutive years, offers non-habitual residents a highly advantageous treatment of income obtained in Portugal or abroad, if certain conditions are met. It is therefore an excellent tool for the attraction of highly qualified professionals as well as investors with international activities.

    In our forthcoming webinar, we’ll explain the benefits of this special tax regime and the opportunities it offers for international investors.

    Register now.

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