Portugal is being hailed as the new “Eldorado” for pensioners by the world press.
In an article in The Telegraph in the UK the headline announced: “The ultimate pension freedom: Retire in Portugal and reduce your tax.”
Forbes magazine recently enthuses “The Algarve, Portugal is the best place in the world to retire-that nobody is talking about.”
They are not just talking about the enviable climate with 3,300 hours of sunshine. In 2009 the Portuguese government introduced the “Personal income tax” regime for non-habitual residents, with a guarantee of a 10 year tax exemption for the applicants.
Leading financial advisor Simon Perks has explained and endorsed the benefits stating that an individual can be deemed resident for tax purposes in Portugal if they spend more than 183 days per year in the country or have a place of abode, at 31st December each year. This is of particular attraction to those retiring with a high value pension which can be paid, totally tax free, during a period of ten consecutive years.
All this is resulting in the 2nd home market bouncing back from the recent economic down-turn and it is against this background that Boavista Golf and Spa resort have started building again in earnest.
Their properties offer distinctive award winning designs built by the Emerson Group, which has an enviable 56 years design and construction history including the Reebok stadium, now the Macron stadium. The Group has been active in Portugal since 1970 and their properties come with 5 year building guarantees.
Managing Director of Boavista resort, Philip Pope, warns; “Many 2nd home buyers get caught out with hidden running costs. At Boavista there are no resort fees. This is a huge advantage and our condominium and golf fees are very competitive compared to other resorts.”
There is a large variety of golf and spa discounts and privileges for property owners. For example with the owners platinum membership plan, you are entitled to 2 golf memberships enabling you to play unlimited golf for just over €1000. Annual membership in competitor resorts is often double this.
Careways is Boavista´s in-house management company. The staff are dedicated to ensuring that you and your guests have a trouble-free stay at the resort. If you are looking for a property investment in the Algarve, Boavista meets all your requirements for a “golden” trouble- free lifestyle in the sun.