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Portugal is the Place for South African Expats

Portuguese Flag and Euros Portugal is an increasingly popular choice for South Africans who are looking to embrace the adventures and opportunities of expat life in the EU. Making the move can pay dividends as Portugal offers a favourable tax jurisdiction for financially prudent and high-net-worth expats. For example, by investing at least €350,000 in the country, and meeting other criteria, South Africans can secure residency on fairly straightforward terms, while also utilising the tax benefits offered by Portugal’s Non-Habitual Residency programme.

It is easy to see why so many South Africans are doing it; Portugal’s favourable investment and residency landscape has made it a thriving and innovative economic  destination in the European Union. Couple this with one of the more enviable European climates, and you have a simple formula that makes Portugal one of the world’s leading expat retirement destinations.

BLACKTOWER VIEW – Tips from the Top

John Westwood, Blacktower Financial Management's Managing Director, founded the firm in 1986 after previously forging a career with Schroder Financial Management that saw him develop a reputation as one of the leading financial advisers in London.

In 1999, John founded Blacktower's first European office, in Portugal's Algarve region, and since then he has been instrumental in ensuring that the Blacktower group moves from strength to strength. However, despite his ongoing commitment to innovation, he continues to operate at the "coal face", providing advice to many high-net-worth clients within the European and international markets.

In this week's Blacktower View article, John reflects on the thirty-plus years he has spent working as a wealth manager and financial adviser, while also offering some useful advice for investors and business people alike that he would now give his younger self.

TOP TIPS – How to Avoid Scams

The Financial Conduct Authority's (FCA) limitations in relation to scams and mis-sold products have been brought into the spotlight in recent months, with a number of high-profile scandals.

For example, last year nearly 12,000 London Capital & Finance (LCF) investors lost approximately £237m (€277.8m) as a result of investing in mis-sold speculative mini-bonds.* This is because they weren't aware of how to spot a scam.

A clearly frustrated LCF bondholder told press that it should be an imperative for HM Treasury and the government to take steps to clarify and strengthen the law in relation to liability. The LCF bondholder also called on government ministers to ensure better regulation of online ads, to make avoiding scams easier for victims.

Client Bulletin

The health and safety of our clients and all associated with our company is of paramount importance and as such we would like to share some information about the steps we have taken to ensure the welfare of all those concerned. Our response takes account of WHO and local Governmental guidance in addition to our existing business continuity and scenario planning.  

NEWS WRAP – Financial Advice Reassurance in the time of Coronavirus

The financial services industry is responding to the coronavirus crisis as firms try to come to grips with extreme market volatility, speculation of recession, and general health and welfare concerns.

NEWS WRAP – HNWIs in Spain Braced for Budget

Last year produced a great deal of polarity and fragmentation in Spanish politics; with elections in April and November unable to resolve the uncertainty, and both polls ending with inconclusive results and no majority in government.

However, January 2020 has delivered significant but not necessarily welcome news for expats in Spain; parliament has agreed the formation of a coalition government. The alliance of two-left-wing parties is a landmark event that signals positivity for the country, but HNWI expats may not necessarily be jumping for joy.

BLACKTOWER VIEW – Keith Littlewood in Murcia and Costa Cálida

Keith Littlewood is Blacktower Financial Management's Regional Manager covering Murcia and Costa Cálida. As an international financial adviser of around thirty years' experience and an expat of more than five years in Spain, Keith is ideally-placed to help expats negotiate the process of becoming an expat and can help them understand just what it means to be a fiscal resident in the country.

AROUND THE BRANCHES – Gibraltar Prepares to Leave the EU

This week, in our latest Around the Branches piece, we take a look at Gibraltar's plans for Brexit and how Spanish parliamentary developments are affecting ongoing negotiations.

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