How about Inheritance Tax or Gift Tax regarding to offshore properties in Portugal?
Written by Offshore Property on 2009/02/25 – 5:57 PM
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. In all other situations a 10% stamp duty applies. In donations of a property, stamp duty or “Gift Tax” is fi xed at0.8% of the taxable value.
Anyway! This just regards to properties that are “onshore”! If you transfer an offshore property you are subject to your local jurisdiction because you are actually transferring a company and not a property.
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At present, an IHT charge can arise if the person making the gift dies within seven years. Property