We know that families planning to pass down wealth to future generations are having to reassess their approach. One option that’s becoming more popular is moving to Portugal for its favorable tax schemes.
Portugal actually abolished inheritance tax back in 2004. Now, direct heirs don’t pay any tax on inherited assets. Siblings, more distant relatives, and unrelated individuals only face a 10% stamp duty, a significant savings compared to the UK.
Of course, there are some important factors to consider when planning a move like this. Our Legal Team points out that residency rules, double tax treaties, and the UK’s non-residence regime all need to be accounted for. Timing is also crucial, especially if you need to sell properties or businesses as part of your relocation.
To help people navigate all of this, seeking expert guidance is essential. The complexity of Portuguese residency requirements, tax implications, and property regulations means that professional advice can make the difference between a smooth transition and costly mistakes. Working with experienced advisors who understand both Portuguese and international systems is crucial for success.
As Cristina Pereira of Residential Advisory Portugal explains, “Families considering this move need comprehensive support that goes beyond just finding property. Understanding the interplay between Portuguese tax benefits, residency requirements, and your existing financial structure requires deep local expertise and a thorough approach to each client’s unique situation.”
Whether you’re looking to reduce your tax burden or enjoy a better lifestyle, Portugal is an option worth exploring. With the right guidance, the transition can be smooth and set you up for long-term financial security.
Navigating the Portuguese real estate market requires local expertise and trusted guidance. Our dedicated team is committed to safeguarding your interests and simplifying the entire process. Whether you’re looking for a permanent residence, a holiday home, or a strategic investment, we’re here to help. Connect with our advisors for a confidential discussion.