Algarve Sport Camps - Professional training camps in Portugal
ALGARVE, PORTUGAL - Live and Invest Overseas€¦ · ALGARVE, PORTUGAL Europe’s most famous...
Transcript of ALGARVE, PORTUGAL - Live and Invest Overseas€¦ · ALGARVE, PORTUGAL Europe’s most famous...
ALGARVE, PORTUGAL
Europe’s most famous secret
LIVE AND INVEST OVERSEAS CONFERENCE
NASHVILLE, TN, USA
In collaboration with…
www.algarveseniorliving.com
www.algarveseniorliving.com
Portugal at a glance • Popula'on: 10.46 million (2013) • GDP: $220 billion (2013) • GDP per capita, PPP adjusted: $20,670 (2013) • Expenditure on health as % GDP: ~ 10% • Life expectancy at birth: 80 years • Official language: Portuguese. English widely spoken. • Climate: one of the most stable in the world, with both Atlan'c
and Mediterranean influences. 3000 hours of sunshine, 300+ sunny days a year (more than California)
• At 35,655 square miles, it is a liXle smaller than Indiana. But it has the 10th largest Exclusive Economic Zone in the world 1,497,100 square miles
• Tourism: Algarve is Portugal’s top tourist des'na'on and receives 7 million tourists a year
• Best country to visit in 2014 (Condé Nast Traveler magazine)
Most sta's'cs from World Bank
www.algarveseniorliving.com
Why the Algarve?
• 52% of energy genera'on from renewable sources • Europe’s largest consumer of fish per capita • Some of the best beaches and golf courses in the world • Exis'ng mul'na'onal expatriate popula'on • English very widely spoken • A large variety of fresh produce including many market
and grocery shopping op'ons • 7th most friendly na'on in the world
• AXrac've and well-‐priced real estate which draws significant summer and some long-‐term rental interest • The Algarve has largely avoided the overdevelopment which has occurred in many areas of neighbouring Spain • A predominantly Chris'an society, which is nonetheless very tolerant. LiXle violence and very low crime • A range of cultural, spor'ng, nature, historical, religious, and many other, aXrac'ons and ac'vi'es • Bill Clinton, David Cameron, Brad PiX, Angelina Jolie, Stefan Edberg, David Beckham, and many more well known
personali'es visit but maintain a high degree of anonymity…this respect for privacy is why • The cost of living for Americans in Portugal, for an equivalent lifestyle and taking into account currency exchange
and infla'on, is up to 33% cheaper (16% less when using the Mac Index) • The Algarve remains Europe’s most famous secret
www.algarveseniorliving.com
www.algarveseniorliving.com
Medical care
• Anyone in Portugal is en'tled to medical treatment • For foreigners without residence, payment is required • Those with permanent residence are en'tled to a discount • All those working and contribu'ng to social security, must obtain a user number ajer which a
full range of na'onal health system benefits are available on same terms as na'onals • Basic health coverage from the Na'onal Health System (SNS) includes all care except den'stry • EU ci'zens who have made regular contribu'ons receive care on the same terms as na'onal ci'zens
as long as they are in possession of the European Health Insurance Card (EHIC) • Those not eligible or who require addi'onal coverage should obtain private health insurance
• Interna'onal medical coverage is available from interna'onal insurers either before departure or once in des'na'on country. Regional coverage is most recommended and allows free choice at any private facility in the region (e.g. Europe)
• Country-‐specific private insurance from an interna'onal company is cheaper • Local private insurance for expatriates is cheaper s'll
• When compared to the US, medical costs in Portugal could be as much as 10 'mes cheaper on a like for like basis. www.ifitweremyhome.com indicates that healthcare costs will be 67% less
www.algarveseniorliving.com
What does it cost to live here?
Item Own property bought for cash
Quality private rental
Accommodation €0 €400 Cleaning, washing (linen) (1) €120 €120 Utilities (2) €100 €100 Groceries €200 €200 Entertainment (3) €250 €250 Preventative medical (4) €100 €100 Medical expenses (5) €250 €250 Gardening €75 €0 Pool maintenance €20 €0 Cable TV, wireless €25 €25 TOTAL €1,140 €1,445
[1] Assuming 2 weekly cleans and one linen change per week [2] Water and electricity. Assumes no use of gas. [3] Assumes 1 meal out per week, 1 tourist visit per month, regular classes of 1 type of ac'vity [4] Includes regular measurement of key indicators, periodic physiotherapy, monthly consulta'on with GP, and consulta'on with pharmacist [5] Assumes private medical insurance cost and co-‐payments for 1-‐2 doctor visits per month [6] Assumes use of public health system with only the occasional private medical expense
BUDGET PER PERSON FOR QUALITY LIFESTYLE FOR COMFORTABLE LIFESTYLE Own property bought for cash
Private rental
€0 €300 €0 €0 €75 €75 €150 €150 €50 €50 €0 €0 €50 €50 €0 €0 €0 €0 €25 €25 €350 €650
www.algarveseniorliving.com
Taxes
TAX VALUE COMMENT VAT 6%-23.25% Depending on item
Personal Income tax: existing resident 14.5%-48% 2.5% surcharge above €80K
Personal Income tax: new residents, foreign income, foreign pensions
0% Under the NHR law
Inheritance tax 0%
Wealth taxes 0%
IMT (real estate purchase tax) on residential Real Estate
1%-6% Not applicable to rentals
IMI (annual property tax) 0.3%-0.5% On government valuation. Not applicable to rentals.
www.algarveseniorliving.com
Algarve real estate examples Property description Price*
1-bed apartment in popular tourist area within walking distance of beach, shops, restaurants. No car required $160,000
1-bed luxury apartment with panoramic views of the sea and natural reserve. Minutes from center of traditional fishing village which is now also a major tourist town.
$217,500
2-bed luxury apartment with sea views in private condominium with manicured gardens, communal pool, gym, sauna.
$290,000
4-bed, 3 bath detached villa with sea views on popular seaside family resort. Private pool, off-street parking and garden. Minutes from beach, restaurants, shops, golf
$430,000
3-bed semi-detached villa on championship 18-hole golf resort. Shared pool. Available with interest-free owner finance over 5 years. Includes golf rights for 2 people.
$475,000
4-bed, 3.5 luxury eco-villa with 1-bed cottage in 2,200 m2 of manicured gardens. Stunning country and mountain views. 50% discount on peak valuation.
$775,000
5-bed luxury villa in acre of land with private pool and tennis court, minutes from 5 beaches, golf courses and water parks
$1,250,000
All prices in Euro converted at EUR:USD 1:1.325
www.algarveseniorliving.com
Maybe not…? Algarve cons
• Portugal is s'll bureaucra'c – expect to stand in line in government departments • If you want everything done quickly, adjus'ng to the slower pace of life may be a
challenge • Portuguese is a difficult language to learn, so living in an area where English is widely
spoken is important • Neither Portugal nor the Algarve is recommended for people who want to start their own
business. The cost of doing business is high and labour laws are s'll very restric've…but the Algarve has just become an excellent tax residence for individuals who work globally and want to be taxed (at 0%) on their non-‐Portuguese revenue
• Because of the many protected areas and slow planning process, tackling real estate development projects is not recommended. Buying completed real estate or ren'ng is preferable
www.algarveseniorliving.com
Is the Algarve for you?
CONSIDER THE ALGARVE IF YOU: • Want to reduce your cost of living while maintaining or increasing your quality of life • Want to live in a low tax environment, with poten'ally no income tax, inheritance tax, and wealth
taxes • Are looking for a safe environment for yourself and your family • Want, in the medium term, access to universal health and importantly, excellent quality of
medical treatment for cri'cal health problems which may develop • Are an outdoor enthusiast and an ac've individual • Play golf and want to cut your golfing budget (and probably your handicap!) significantly, and play
over 40 courses within a stretch of coast of less than 75 miles • Seek a life away from the limelight where the pace of life is generally slow to medium • Expect your family to visit you and want them to have a great holiday as well as access to ac'vi'es
appropriate to them • Like ea'ng and drinking, but doing so healthily
www.algarveseniorliving.com
Try-‐before-‐you-‐decide: senior living villages
• Aimed at permanent residents, winter stay clients and try-‐before-‐you-‐move or buy guests • Long-‐stay (> 1 month) rental accommoda'on • Hotel-‐like services (recep'on, cleaning, security, wireless access, use of facili'es including
gym, pools, tennis, lawn bowling, etc.) • Medical services (basic medical including nurse, physiotherapist, doctor (GP) and
pharmacist) • F&B: on request, but include breakfast, lunch and dinner op'ons • Age-‐appropriate ac'vi'es: via local partners and on-‐site ac'vity coordinators • Services via specialist partners (NHR, legal, tax, financial, forex, banking, health insurance) • Added-‐value services for residents (basic Portuguese lessons, computer support, sign-‐up
support at local health centre, fresh bread daily, ajernoon tea!) • First villages opera'ng from the Autumn in Carvoeiro – 1 and 2-‐bed op'ons available
www.algarveseniorliving.com