MOVING TO PORTUGAL SEMINAR. Planning for a Tax Efficient Future

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Pestana Chelsea Bridge Hotel, 23rd October 2017

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VI.. MOVING TO PORTUGAL SEMINAR I. EDGE EDGE is the leading Portuguese law firm advising UK clients on the investments of both individuals and companies. Practices and specializes in the following areas of Law: Tax Planning Foreign Investments & Tourism Property Banking & Insurance Private Clients Residency by Investment Family & Probate Employment Corporate & Commercial Litigation & Dispute Resolution Geoffrey Graham Gonçalo Figueira E: ggraham@ E: gfigueira@ www.

II. Destination Portugal In recent years, Portugal has attracted an increasing number of new residents who come to invest or make it their new home Portugal is the 3 rd safest country in the world according to the Global Peace Index 2017 Its investor friendly environment has helped make it the new home of the Web Summit held in Lisbon starting from 2016 The Non-Habitual Tax Resident, Golden Visa, Urban Rehabilitation and Start-up programmes created by the Portuguese Government have been key components in the country s financial recovery www.

III. General Overview The Non-Habitual Tax Residency regime was introduced in 2009 to attract individuals and their families to Portugal by making it beneficial from a tax perspective to become a tax resident NHR status can result in pensions, dividends, bank account interest and royalties originating in a non-portuguese source being exempt from, or being subject to a preferential rate of, personal income tax Salaries for High Added Valued Activities ( HAVA ) will be taxed at 20% The only requirement to benefit from the NHR status is become a Portuguese tax resident, not having been a Portuguese tax resident in the previous 5 years The NHR status can be maintained for 10 years No minimum investment required, open to all nationalities www.

IV. Legal Information Successful NHR applicants will be exempt from personal income tax on qualifying income if subject to tax in the country of source under an existing Double Tax Treaty If no Tax Treaty exists the income will be exempt if it were subject to tax in another jurisdiction and is not considered as Portuguese source income under domestic rules A 20% flat rate is applicable for certain types of income arising from highly qualified activities subject to a subsequent request to the Portuguese Tax Authorities Examples of HAVA include medical and I.T. specialists www.

V. Requirements To become a Non-Habitual Resident it is necessary to be a Portuguese tax resident i.e.: have habitual domicile in Portugal; spend more than 183 days in Portugal in the tax year; or have a dwelling in Portugal at 31 December of that year with intention to hold it as habitual residence, and not having been a tax resident there for the past 5 years The application process can take less than a week with the right preparation Residency Permit of 5 years as part of the application Offers residency opportunities for British citizens post-brexit www.

VI. Entrepeneurs and Start-ups Lifestyle increasingly affecting location choice due to increased mobility Portugal very receptive to outside investment: workforce; telecommunications; infrastructures Network of tax treaties facilitates the use of tax efficient structures Straightforward company set-up Grants/benefits available for start-ups (average of 31,000 new start-ups per year in Portugal) www.

VII. Our Services We will provide you with a complete range of legal services for the application to NHR status. Includes both NHR application, any related corporate structuring and property purchase/rental. This will also include: undertaking an initial fact find; due diligence on current tax status; preparation and submission of initial application and statement; representation before the Portuguese Tax Authorities; regular contact with these Authorities to ensure that the application is being processed promptly and efficiently; regular updates in relation to the process and other related advice. www.

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WORLDWIDE LISBON Praca Duque de Saldanha, 1 Edif. Atrium Saldanha, 7 th floor 1050 094 Lisbon, Portugal P.(+351)213191290 I F.(+351)213527619 email: info@ PORTO Avenida da Boavista, 722 Edif. Boavista Prime, 3.2 4100 111 Porto, Portugal P.(+351)223241959 I F.(+351)213527619 email: porto@ ALGARVE - Almancil Avenida José dos Santos Farias, 137-A 8135-167 Almancil, Portugal P.(+351)289895420 I F.(+351)289895429 email: algarve@ ALGARVE - Lagos Rua Dr. José Francisco Tello Queiroz Lote 3, Loja R 8600-707 Lagos, Portugal P.(+351)282038678 I F.(+351) 282038678 email: algarve@ UK 33 Cavendish Square London W1G 0PW, United Kingdom P.(+44)2037149075 I F.(+44)2031024601 email: info-uk@ CAPE VERDE Po Box 138, Ed. Garantia, 1º F Av. Amilcar Cabral, Santa Maria, Sal, Cape Verde P. (+238)2422061 I F.(+238)2421262 email: info-cv@