Fiscal Representation in Portugal

Fiscal Representation at an incredible price,with a great deal of advantages.

€195 per couple, individual or company per year (plus vat) for a fiscal representation.
A great price with an even greater service.

Included in the annual fee are all these benefits:

1. (a) the support of a company established in the Algarve with an excellent reputation for nearly 25 years specialising in non-residents,

    

2. (b) free access in the Algarve to UK qualified barristers-at-law specialising in international tax-planning with free appraisal of your financial affairs,

    

3. (c) free information regarding offshore products, companies, trusts and insurance,

    

4. (d) free access in the Algarve to UK qualified Independent Financial Advisers regulated by the Financial Services Authority in the UK,

5.  

6. (e) Access via our Portuguese office to one of the largest international business networks, HLB International represented in over 100 countries with 13,510 staff in over 450 offices.

The Law

Portuguese law introduced in the Finances Act of 2001, states that the registered assets of property in Portugal must comply with the following legislation:

• If a property is owned by an individual(s) that does not hold a Portuguese identity card or a residency permit, the individual(s) must appoint a Fiscal Representative in Portugal,

• If the property is owned by a company that is not a Portuguese Domiciled Company, the company must appoint a Fiscal Representative in Portugal.

N.B.  Failure to comply with the above legal obligations may put your property investment at risk and you may be liable to a fine of between €50 - €5000.

The Fiscal Representative

The Fiscal Representative for an individual or a company owning property in Portugal can ONLY be a Portuguese National, a holder of a valid Portuguese Residency Permit or a Portuguese company that includes these services in its Statutes.

Responsibility of a Fiscal Representative

A Fiscal Representative takes on all duties and responsibilities on behalf of the registered property owner, for the payment to the Direcçao Geral dos Impostos (Local and National Taxation Authorities) of Income Tax, Stamp Duty, Capital Gains Tax, Council Tax, Presumed Rental Income and Value Added Tax, Preparation and submission of all annual Tax Returns (trading or non-trading) and the ultimate responsibility for ensuring payment of any tax liabilities to the Portuguese authorities that pertain to the property and registered owners of the said property. However, it is the responsibility of the client to place the Fiscal Representative in funds in a timely manner to meet the various deadlines for filing tax return and paying the corresponding taxes.

Gibro’s Role

Portutax Lda (part of the Gibro Group of Companies) has been specially incorporated under Portuguese law to undertake the legal obligations and requirements of a Fiscal Representative on behalf of non-resident individuals and companies (wherever domiciled outside of Portugal).

Portutax Lda is a Portuguese company specializing in acting as Fiscal Representative in matters relating to the Local and National Taxation Authorities (Direcçao Geral dos Impostos) as required by law, for properties owned in Portugal by non-Portuguese Companies and non-resident individuals as well as and for non-resident individuals - subject to status.