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moving to Portugal
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Philip Baker
- CVO Regular
- Posts: 21
- Joined: Wed Jul 05, 2006 3:32 pm
moving to Portugal
Hi everyone I have been looking at the forum recently after checking out the Carvoeiro website.
Along with my wife we stayed there many years ago and revisited last year. We are quitting the working world here in England and want to set up home with you next year. Hence my reason for looking, and finding a nice town and interesting forum. As this is my first time I was wondering what might be the pitfalls and looking for any advice.
Do we have to notify the authorities of our permanent residence?
What kind of moneys do I need to allow for in running a house local tax electric, water etc?
As I will not be old enough for a British pension yet will I have the government chasing me for income tax, as my saving will be what I will live on? Is there an offshore way of placing this money without paying tax?
We will be looking for a 3-bed villa around Vale de Milho for around £350,000 is there an agent, solicitor anyone could recommend as being fair?
I have seen the solar heating panels on the roofs is that enough to run the entire requirement including heating the pool, and the house heating in the winter. If not can you put two on the roof, do the govement encourage this as in Spain were they cost around £300 now.
How do you cope from June to August when it is just so hot? Do you go out and where?
Are the any sites I should check out?
Along with my wife we stayed there many years ago and revisited last year. We are quitting the working world here in England and want to set up home with you next year. Hence my reason for looking, and finding a nice town and interesting forum. As this is my first time I was wondering what might be the pitfalls and looking for any advice.
Do we have to notify the authorities of our permanent residence?
What kind of moneys do I need to allow for in running a house local tax electric, water etc?
As I will not be old enough for a British pension yet will I have the government chasing me for income tax, as my saving will be what I will live on? Is there an offshore way of placing this money without paying tax?
We will be looking for a 3-bed villa around Vale de Milho for around £350,000 is there an agent, solicitor anyone could recommend as being fair?
I have seen the solar heating panels on the roofs is that enough to run the entire requirement including heating the pool, and the house heating in the winter. If not can you put two on the roof, do the govement encourage this as in Spain were they cost around £300 now.
How do you cope from June to August when it is just so hot? Do you go out and where?
Are the any sites I should check out?
Why don't you both come and spend several weeks out here making sure this is what you really want? It's a huge decision & I'm not convinced that web sites and third party advice really give you all the information you need to make the right choice.
In any event finding a reputable legal & financial advisor is imperative, hopefully you will get some solid recommendations from the forum.
In any event finding a reputable legal & financial advisor is imperative, hopefully you will get some solid recommendations from the forum.
Sounds to me that a lot of detailed research needs to be done which is unlikely to be found on a forum such as this, although I am sure you will find some useful pointers.
We used Sovereign (in Lagoa) and their own 'in-house' lawyer when we first bought in Carvoeiro and doubt that we could have found a better organisation. However I would strongly recommend that you start your research in the UK to see how this move might affect your tax position and any pension/savings you may have.
We used Sovereign (in Lagoa) and their own 'in-house' lawyer when we first bought in Carvoeiro and doubt that we could have found a better organisation. However I would strongly recommend that you start your research in the UK to see how this move might affect your tax position and any pension/savings you may have.
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Ellie
- CVO Oracle
- Posts: 8886
- Joined: Thu Jan 22, 2004 5:16 pm
- Location: Londoner in the Wolds,Lincs
- Contact:
Hello Philip and welcome 
I can't give any legal advice, there are others here who will answer those questions.
But I think Widge's words are very wise. You seem uncertain about how you would cope with the extreme temperatures of summer (that was certainly something that tested me in our time there)..but of course you do acclimatise.
So why not try renting for a while? Is it your intention to give up a place in UK altogether? As Widge says, its a very big step to take..so maybe a spell in Carvoeiro/ Vale de Milho, perhaps for a while in high summer and I would advise wintertime too!
But your plans are exciting and I wish you all the best with them. I would do it again and its starting to look as though I will
cheers
p.s. No sign of house prices slowing here..averaging a rise of £45 a day across UK
I can't give any legal advice, there are others here who will answer those questions.
But I think Widge's words are very wise. You seem uncertain about how you would cope with the extreme temperatures of summer (that was certainly something that tested me in our time there)..but of course you do acclimatise
. So why not try renting for a while? Is it your intention to give up a place in UK altogether? As Widge says, its a very big step to take..so maybe a spell in Carvoeiro/ Vale de Milho, perhaps for a while in high summer and I would advise wintertime too!
But your plans are exciting and I wish you all the best with them. I would do it again and its starting to look as though I will
cheers
p.s. No sign of house prices slowing here..averaging a rise of £45 a day across UK
If lIz gets her way we too will be looking to make the move sometime next year.
As to UK tax authorities I doubt that there is any way of escaping them.
We have friends back in the uk for a short break who moved to the states two years ago.
They have no UK residence ,small uk income yet are regularly chased for information, form completion etc.
I think we just have to accept that our Government is out to get as much money from everyone of us as it can.
It has already gone public on investigating all scources of offshore income/investments.
Maybe the best way is to become resident in Portugal and pay the lower taxes ie 25% instead of 40%.
Lower council taxes/rates etc
As to UK tax authorities I doubt that there is any way of escaping them.
We have friends back in the uk for a short break who moved to the states two years ago.
They have no UK residence ,small uk income yet are regularly chased for information, form completion etc.
I think we just have to accept that our Government is out to get as much money from everyone of us as it can.
It has already gone public on investigating all scources of offshore income/investments.
Maybe the best way is to become resident in Portugal and pay the lower taxes ie 25% instead of 40%.
Lower council taxes/rates etc
Apart from the fundamental question "should you move to Portugal?" your point about solar heating sounds very optimistic.
I have 2 large free standing panels hidden in the garden. During summer they provide all domestic hot water for up to 8 people. In autumn /spring you need help with back up from the gas boiler, in winter the sun isn't strong enough to do much other than augment the gas boiler.
House & Pool heating require separate back up systems or you'll get cold when it's cloudy !
I have 2 large free standing panels hidden in the garden. During summer they provide all domestic hot water for up to 8 people. In autumn /spring you need help with back up from the gas boiler, in winter the sun isn't strong enough to do much other than augment the gas boiler.
House & Pool heating require separate back up systems or you'll get cold when it's cloudy !