If you’ve always dreamed of spending your retirement years teeing off on a series of golf courses featuring breathtaking views, there is arguably no better place than the country’s southernmost region, the Algarve.
Thanks to its 42 courses in less than 100 miles, the Algarve is largely recognised as one of the best places for golf in the world.
Golfing and the Algarve: a brief history
In 2016, the region celebrated the 50th anniversary of the opening of its first golf course.
Sir Henry Cotton designed Algarve’s first traditional grass course in 1966. Originally named The Penina, it’s now known as the Sir Henry Cotton Championship Course and is widely considered one of the region’s finest golfing destinations. It has repeatedly been used as the venue for the Portuguese Open, and the facility paved the way for many other golf resorts to follow.
Now, more than 50 years on, world class golf resorts have become synonymous with the region.
According to figures from the Algarve Tourism Association, there were nearly 700,000 rounds of golf played in the region within the first six months of 2016, which is an increase from 2015 (itself a record year for the number of rounds played). It appears that the popularity of the sport has only grown since the very first tee-off.
And if golf’s not for you?
Of course, it’s not just golf that has people flocking to the Algarve in their retirement years. The region’s many beaches and beautiful caves give sightseers some superb places to visit, such as the famous Benagil Caves located on the Lagoa coast.
And the beaches also offer the opportunity for numerous water sports, such as windsurfing, parasailing, and scuba diving – or just plain sun worshipping.
Make the most of your wealth in Portugal
If you’re already living as an expat in the Algarve or if you’re planning to join the avid golfers and sun seekers in the south of Portugal, good wealth management is key. Making sure your finances are in order will help give you peace of mind so that you can focus on enjoying your retirement and filling it with the activities that please you. A financial adviser can help you do this.
Blacktower’s financial experts in Portugal have offices in Lisbon and the Algarve. Should you need any advice and guidance in relation to your taxes, pension, or any other aspect of your finances, don’t hesitate to contact an adviser today.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
New data from HM Revenue & Customs reveals that the combined value of retirement transfers to QROPS fell to £740 million in the 2017-2018 tax year, the first period since the government introduced a 25% tax charge, with the number of pension transfers down to 4,700 from 9,700.