Offshore Property

Portugal abolished Inheritance Tax in 2004. All transfers to immediate relatives (spouses, children, grandchildren, parents and grandparents) have been taxexempt. However, commencing in 2009, a stamp duty of 0.8% will be levied.

hen buying a property in a corporate structure you are buying the shares of the company that is the registered owner in the portuguese Land Register. Read on about the risks when not having an energy certificate.

The following jurisdictions are considered Black Listed in Portugal. Properties owned by a company located in one of those countries will be taxed on a higher rate:

Many people buying property in Portugal wonder why they must have Fiscal epresentation. First and foremost, it is a legal requirement. Any non-resident owning property or with income generated in Portugal must designate a resident entity to serve as Fiscal Representative to fulfil all compulsory tax obligations.

Portugal, like any other country in Europe, has an array of taxes that relate to property. Some are connected to possession of the property, others to different forms of related income, while others refer to its transmission. What was that proverb about Death and Taxes?

In 2003 changes in local legislation meant that countries outside of Portugal (sometimes referred to as Offshore Centres) were classified by an international body known as OECD as either Black List or White List jurisdictions. The Black List jurisdictions were for the most part countries that offered beneficial tax regimes that were out of line with the White List countries. The intention being that those on the Black List would be encouraged to fall into line with White List jurisdictions.