Finance

The most expensive apartment in Portugal's history sold for 7.2 million euros in Lisbon

The most expensive apartment in Portugal's history sold for 7.2 million euros in Lisbon

How far will the rise in property prices in Lisbon go? This is a question that we are entitled to ask following the sale of the most expensive real estate in the history of Portugal. It is a rooftop apartment with private pool, gym and spa overlooking the Tagus River. Although the penthouse was acquired for an amount deemed exorbitant, the owner of the penthouse asked to remain anonymous. The owner of Lisbon's most expensive apartment will also enjoy views of Eduardo VII Park or São Jorge Castle from its 260-square meter terrace. Is it too expensive for an apartment in Lisbon? Does it deserve its price of 7.2 million euros? Lisbob, the expatriate's assistant in Portugal, tells you all about this new real estate madness in the Portuguese capital.

Novo Banco will ask 541 million euros more to Portuguese taxpayers

Novo Banco will ask 541 million euros more to Portuguese taxpayers

Novo Banco, born on the smoking ashes of the BES in 2014, estimates that it has to ask for at least 541 million euros more to the resolution fund in order to be saved. The Portuguese bank announced this need in its report on the results of the first half of this year. On their side, Portuguese MPs approved a draft resolution recommending to the government an independent audit of Novo Banco to know when this bottomless pit will stop. In addition, Novo Banco recorded a loss of 400.1 million euros in the first half of this year, compared with 212.2 million euros for the same period in 2018, which means that the situation is not improving. What is the statement of Novo Banco in the middle of the holidays? Who will pay the bill? Lisbob, the assistant of the expats in Portugal, tells you all about this new loss of Novo Banco.

Massive change of NHR status in Portugal : discover the new list of professions with high added value

Massive change of NHR status in Portugal : discover the new list of professions with high added value

The list of "high value added" professions that give access to NHR status in Portugal has changed. Occupations such as psychologists, architects, designers or archaeologists have left the list, and others such as directors of hotels and restaurants as well as dentists have been added. This is a real upheaval for the NHR status. In fact, the Portuguese tax authorities carried out a "thorough examination" of the list of professional activities recognized as "high value added" and which gave the right to the status of non-habitual residents. According to the order issued on Tuesday, "Portugal's economic situation has changed considerably since the publication of this table of activities, with a significant transformation of the dynamics of job creation". Non-usual residents in the occupations listed here are entitled to special rates on the IRS. What is the new list of professions recognized as "high value added" in Portugal? What about professions that come out of NHR status? Lisbob, the expatriate assistant in Portugal, tells you all about the new NHR status.

End of NHR status for Swedish pensioners in Portugal

End of NHR status for Swedish pensioners in Portugal

Swedish pensioners will have one less reason to come and retire in Portugal. Indeed, after long months of negotiations and contradictory statements by both parties, Sweden and Portugal have signed a new tax treaty that particularly affects beneficiaries of NHR status, non-habitual resident. Sweden will regain the right to tax the private pensions of Swedish pensioners living in Portugal, following the signing of a protocol to the tax treaty aimed at eliminating double taxation by both countries. This new agreement simply signifies the death sentence of the tax exemption enjoyed by Swedish retirees in Portugal. Lisbob, the expatriate assistant in Portugal, tells you all about the end of NHR status for Swedish retirees.

Portuguese tax authorities sentenced to refund part of the ISV tax for an imported car

Portuguese tax authorities sentenced to refund part of the ISV tax for an imported car

Portugal's tax and customs authority (TA) has been ordered to return part of the ISV, the import tax on vehicles, to a taxpayer who had imported a car from Germany. According to the court's decision, the calculation of the tax does not take into account the depreciation of the vehicle and is therefore discriminatory and illegal. This highly criticized tax can sometimes reach crazy sums, much higher than the amount of the vehicle. In addition, Brussels has already fined Portugal for this tax which does not meet the European criteria for free movement of goods and people. Lisbob, the expatriate assistant in Portugal, tells you all about this court decision that may mark the end of the ISV tax in its current form.

Capital gains in Portugal : Everything you need to know about taxes when selling your real estate

Capital gains in Portugal : Everything you need to know about taxes when selling your real estate

In Portugal, capital gains from real estate assets correspond to the profit obtained from the sale of a house. They consist of the difference between the price at which someone bought a property and the price to which this same property has been sold. If there is a loss instead of profit, then there is no tax. In Portugal, the sale of real estate can sometimes have unpleasant surprises. Real estate gains are heavily taxed, and their calculation is important to take into account before any final decision. Selling your house in Portugal is not easy. Whether buying or selling property in Portugal, taxes are as usual. How to calculate the capital gain on real estate assets in Portugal ? How to calculate the taxes on the capital gain in Portugal ? How to benefit from a tax exemption for the resale of your property in Portugal ? Lisbob, the expatriate assistant in Portugal, tells you all about the capital gains of real estate assets and taxes related to the sale of house in Portugal.

Novo Banco loses 1.4 billion euros again and all taxpayers in Portugal will have to pay : 140 € per person

Novo Banco loses 1.4 billion euros again and all taxpayers in Portugal will have to pay : 140 € per person

Novo Banco is the "new bank", named after the bankruptcy of the BES, Banco Espirito Santo a few years ago and continues to plague the accounts of Portugal and Portuguese. Indeed BES no longer exists since 2014 but its "new bank" comes losses of 1.4 billion euros and calls for resolution fund under the equity mechanism. More than half of this amount results from losses recorded in problematic assets inherited from the BES, and more than 350 million euros are due to regulatory requirements. But when Novo Banco loses money, all Portuguese taxpayers have to pay. Indeed the Resolution Fund is a fund powered by public money. In total, each Portuguese taxpayer will contribute € 140 to save the Novo Banco again. How will Portugal's finances be impacted? Lisbob, the expatriate assistant in Portugal, tells you all about this new loss of Novo Banco.

How to obtain proof of address and certificate of fiscal residence in Portugal on finanças website in 9 steps

How to obtain proof of address and certificate of fiscal residence in Portugal on finanças website in 9 steps

When living in Portugal, it is common for us to be asked for proof of tax domicile or proof of address from the Portuguese tax authorities. This administrative approach has become over the years a mere formality thanks to new technologies. Indeed, it is now possible for any taxpayer, even a foreign expatriate, to request and receive a proof of tax residence that serves as proof of address in Portugal. This free document, which is obtained online, certifies your home in Portugal and can be requested on several occasions during your life of expatriate: to contract services or recurring services, to open a bank account, to make a loan or credit or to enroll his children in a Portuguese school. The majority of people use water or electricity bills as proof of address or proof of address, but the personal information on these documents means that some people simply prefer to provide proof of tax domicile. How to get a proof of Portuguese tax domicile ? How to request and receive proof of tax address in Portugal ? Lisbob, expats assistant in Portugal, tells you everything about how to have proof of residence in Portugal directly on the website of financas, in 9 steps.

How to complete and transmit the quarterly declaration to social security as a self-employed person in Portugal ?

How to complete and transmit the quarterly declaration to social security as a self-employed person in Portugal ?

Since 1 January 2019 there has been a new reporting obligation for self-employed persons in Portugal. Indeed, a new mandatory quarterly declaration must be sent to the social security system in January, April, July and October, thus making it possible to calculate the amount of the contributions that the freelance must pay. The amount of social security taxes as a self-employed person in Portugal is now calculated each quarter according to the income obtaining over the previous 3 months. This social security declaration is made directly on the website Segurança Social Direita. How to complete your self-employed worker declaration in Portugal ? How to calculate social security contributions as a freelancer ? Lisbob, expats assistant in Portugal, tells you all about the quarterly income statement to the Portuguese Social Security.

Cost of living in Portugal in 2019 : 10 things that will become more expensive

Cost of living in Portugal in 2019 : 10 things that will become more expensive

The year 2019 comes and with it a general rise in prices and the cost of living in Portugal, which will affect several sectors ranging from food to tobacco through tolls .. This increase in the cost of living in Portugal is the consequence of the rise in taxes, inflation, minimum wage and the price index which are evaluated by the Government of Portugal. The price of rents, mobile phone packages as well as transit passes increase for the new year 2019 in Portugal and it will take into account when calculating its budget to live in Portugal. What are the price increases planned for 2019? What will be the cost of living in Portugal in 2019? Lisbob, expats assistant in Portugal, tells you all about the 10 things that will become more expensive in Portugal in 2019 and have an impact on the cost of living.

Increase of minimum salary in Portugal in 2019 : 600 € gross per month due to lack of agreement on the minimum wage

Increase of minimum salary in Portugal in 2019 : 600 € gross per month due to lack of agreement on the minimum wage

Portuguese Labor Minister said on Monday (December 10th) that the Portuguese government "had kept its program" by raising the minimum wage to € 600 a month by 2019, justifying that it did not go further because of a lack consensus between unions and employers. Contrary to what the government announced some time ago, there will be no surprise about the increase of the minimum wage in Portugal. This will reach the gross monthly amount of 600 €. Officials see their salaries rise to € 635, the first increase since the wage freeze imposed in 2009. Why has the minimum wage not increased more? What decisions have been made regarding the Portuguese minimum salary ? Lisbob, the expatriate assistant in Portugal, tells you everything about the minimum wage in Portugal in 2019.

How to apply for and obtain a Portuguese social security number as a foreigner ?

How to apply for and obtain a Portuguese social security number as a foreigner ?

When one decides to go live in Portugal, it is sometimes these administrative steps that can turn into a vicious circle where it is difficult to see the end. Obtaining a NISS Portuguese social security number is not easy and is one of those mandatory steps for any expatriate who wants to work in Portugal. Even though the rules have eased in recent years, the fact remains that applying for and obtaining a Portuguese social security number is still a complicated process. Getting a NISS Portuguese social security number for foreigners is not only a headache for people who want to work, but also for companies that want to hire them. What steps must be taken to obtain a Portuguese social security number in Portugal when you are a foreigner ? What is the process for having his Portuguese NISS security number as an expatriate ? Lisbob, the expatriate assistant in Portugal, tells you all about the conditions for obtaining the Portuguese social security number for foreigners.

Instant 24/7 bank transfers arrive in Portugal

Instant 24/7 bank transfers arrive in Portugal

If you already live in Portugal, then the banking system and its peculiarities may have surprised you. Having to wait for a long time for the distributor to pay his bills or hurry up before 3 pm to hope that his transfer starts on time, is a common thing in Portugal. But things will change. Indeed, it is now possible to make immediate bank transfers, that is to say in a few seconds. The Bank of Portugal announced on Wednesday 19 September that its payment system already allows immediate transfers, even between different banks. Immediate shipments can be made 24 hours a day, 7 days a week, 365 days a year. Funds are available in ten seconds. The bank supervisor pointed out that adherence to this system is optional on the part of financial institutions. How does this immediate transfer system work? What are the conditions? Bob, the expatriate's assistant in Portugal, tells you everything about immediate transfers.

Freelance : all the new rules on your rights and duties as a self-employed person in Portugal

Freelance : all the new rules on your rights and duties as a self-employed person in Portugal

Work as a freelancer in Portugal can be quite complicated specially when you don't speak Portuguese. Hopefully Bob is here to explain to you the new rules if you are a self-employed person in Portugal. The Portuguese Government has decided to modify the social protection rules in case of sickness, unemployment and parenthood for all self-employed in Portugal as from 1 July 2018. Indeed, a decree has been promulgated and it changes the rules for people working as a freelancer in Portugal. Disability, unemployment, parenthood, many points are changed regarding the rights and duties of freelancers in Portugal. What are the new rules for people working as freelancers in Portugal ? Which deadlines are modified ? Lisbob, the expatriate assistant in Portugal, tells you all about the changes to the rights and duties of freelancer in Portugal.



Lisbon is renting 36 accommodations from T0 to T3 starting from 124 €

Lisbon is renting 36 accommodations from T0 to T3 starting from 124 €

The Lisbon City Council has just opened the applications to be able to rent low-rent housing from € 124. Good news for those who cannot find affordable rental housing in Lisbon and are already thinking about fleeing to the suburbs. Do not pack your bags now because the Lisbon City Council has just opened applications for 36 low-rent housing units since Monday, July 2, 2018. What is the price of these homes ? How to be a candidate ? Which areas are concerned ? Bob, the expatriate assistant in Portugal, tells you all about low-rent housing in Lisbon.


How to pay Imposto Único Circulação IUC tax online, step by step

How to pay Imposto Único Circulação IUC tax online, step by step

If you own a vehicle registered in Portugal you must pay every year the Unique Tax on Traffic (Imposto Único Circulação) IUC. You may have probably already received an email from Finanças regarding the payment of this tax. It is a mandatory tax for everyone who own a vehicle in Portugal. But when you don't speak or understand Portuguese this simple task can become a nightmare. When to pay the Imposto Único Circulação ? How to pay the IUC directly on the Finanças portal ? How to verify that we have paid the IUC ? Lisbob, the Expats Personal Assistant in Lisbon and Portugal explains everything step by step.

Real estate and consumer loans in Portugal: discover the new rules

Real estate and consumer loans in Portugal: discover the new rules

New rules on mortgages and consumer loans in Portugal were introduced as of Sunday, 2 July. As an expatriate, it is sometimes difficult to know the different rules in norm of credits house or consumer especially when one does not speak the language. If you want to buy a house in Portugal read this: The Bank of Portugal has published new rules that apply to borrowers as well as banks and they change the way you can borrow. What is the maximum debt ratio accepted? What is the maximum percentage loaned by banks to buy a house in Portugal? What is the term limit of a home loan or consumer loan? Lisbob, the expatriate assistant in Portugal, tells you all about the new rules introduced by the Bank of Portugal on consumer loans and mortgages, so that buying a house in Portugal becomes a pleasure.

Increase of the minimum wage in Portugal : the Portuguese Employers’ Union promises a "surprise" and an amount greater than 600 euros in 2019

Increase of the minimum wage in Portugal : the Portuguese Employers’ Union promises a "surprise" and an amount greater than 600 euros in 2019

In Portugal good surprises sometimes come from the bosses. The minimum wage is € 580 gross in 2018 in Portugal and this amount has seen several increases in recent years. At each discussion of the Portuguese State Budget, the workers 'and employers' unions negotiate and defend their interests and defend their work. But this year the CIP, the equivalent of the Employers’ Union in Portugal, could create a surprise by proposing an increase in the minimum wage beyond the expectations of all unions. Indeed, the boss of the CIP said that we should expect a surprise concerning the increase of the Portuguese minimum wage. What are these statements of the Portuguese Employers’ Union ? What is the proposed amount ? Lisbob, the expatriate assistant in Portugal, tells you everything about raising the minimum wage in Portugal.


Real Estate : All taxes when buying a house or property in Portugal

Real Estate : All taxes when buying a house or property in Portugal

When you decide to move abroad and buy a house or other property in Portugal, it is essential to weigh all the costs associated with it. In addition to notary fees and administrative costs, you should pay particular attention to taxes on the purchase of goods. Indeed, Portugal is famous for its “hidden” taxes that everyone should take seriously before to decide to buy a house. While putting aside the financial weight of a home loan, it is true that all the other costs associated with buying a home in Portugal mean that the total amount of the purchase of the property becomes much higher. The first step will be to find financing tailored to your needs and your payment capabilities. What are the taxes when buying a house in Portugal ? What taxes to pay when you buy a property ? Lisbob, the expatriate assistant in Portugal, tells you everything about real estate taxes in Portugal.

All about the periodic VAT declaration as a self-employed worker in Portugal

All about the periodic VAT declaration as a self-employed worker in Portugal

If you live and work as a freelancer in Portugal then the question of VAT collection or not is an important topic. It is essential for the success of your freelance activity to know the particularities of the VAT declaration in Portugal. Indeed in case of bad information transmission you expose yourself to sometimes heavy fines which can mean the end of your activity. Working as a freelancer in Portugal is not easy but thanks to Lisbob digital nomads have all cards in hand in order to know how to fill and send periodic VAT declaration in Portugal. What is periodic VAT return declaration ? How to fill it correctly ? Lisbob, the expatriate assistant in Portugal tells you all about the periodic VAT return in Portugal for the self-employed.