Text by Blevins Franks
Perhaps the most important elements of financial planning are:
- It should be carefully designed around your specific family situation, country of residence, objectives, time horizon, risk profile and wishes for your heirs.
- Look at all the elements together: your savings and investments, pensions, tax planning and estate planning.
To ensure your financial planning is on track to achieve your objectives, here are some questions you need to ask and research:
- Are you paying tax in the right country? Make sure you know where you are ‘tax resident’ and where income earned abroad is taxable.
- Are you paying more tax than necessary? Portugal’s tax regime offers compliant opportunities to enjoy favourable tax treatment on investment capital and pensions.
- Should you keep hold of UK savings and investments? Are they tax efficient in Portugal?
- Is your investment portfolio strategically designed for your circumstances and objectives?
- Have you had your risk profile measured objectively to ensure your investments are suitable for you?
- Are you still using UK-based advisers and services? Post Brexit they lost automatic regulatory ‘passporting’ rights into the EU. And do they have in-depth knowledge of Portugal’s tax and succession regimes?
- Should you leave your pension funds in the UK, or could being an expatriate provide advantages?
- Is your estate planning designed around both Portugal and the UK’s succession laws and the cross-border complications?
- Can you make the inheritance process easier and tax efficient for your heirs?
Blevins Franks Wealth Management
Blevins Franks has been providing tax and wealth management advice to expatriates in Europe for 45 years, with established office in Portugal for 25 years. Our wide range of in-house expertise means we offer a genuinely holistic approach to financial planning. Our investment and pension solutions are tailored for your specific aims and risk tolerance and designed to be tax-efficient for Portugal while meeting your estate planning wishes. And with our regular reviews, you’ll know your savings are well looked after.
For answers to all the above questions, and to find out how we can help you, contact us on:
You can find other financial advisory articles by visiting our website here.