Pensions

If you’re moving to Portugal for good, you may well benefit from moving your pension overseas into another scheme.

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If you are moving to Portugal for good at retirement age, you may well be able to benefit from moving your pension into an overseas scheme, such as a Self-Invested Personal Pension (SIPP) or Qualifying Recognised Overseas Pension Scheme (QROPS). Conditions do apply to these schemes (of course), but typically you could gain greater control over your pension and reduce your tax bill. 
 

If you decide to take one of these options, you will need to make sure that you meet the criteria required by the UK authorities: you need to be living, or going to live, abroad, and you must remain living abroad. It is important to remember that it will take around ten years of receiving your pension through a QROPS for the real benefits of this scheme to show - making it really important to consider your options now rather than later.

If you would like us to put you in touch with an authorised tax and financial advisory firm for advice and guidance on financial planning and taxation when you move to Portugal or own property there, call our Resource Centre on 020 7898 0549.


Further reading for Buying In Portugal

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Viewing Guide

Finding the right property can be a challenge. What do you need to think about early on?
Read more...

 

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Hidden Costs

The price of the property as listed is never the price that you will end up paying. There are a host of other costs.
Read more...

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Legal Matters

Buying a property in Portugal has very different legal requirements to the UK.
Read more...
 

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Currency Zone

Did you know that you could save thousands of pounds when emigrating by using a currency specialist?
Read more...