27 Monday Nov 2017
Posted in Posts
Vancouver, CA has passed new regulations banning homeowners from renting out certain kinds of property on short-term rental platforms like Airbnb as part of an attempt to cope with a shortage of long-term rentals. Owners may still rent out room individually or let their principle residence on a temporary basis when on holiday. The city will charge an annual licensing fee of C$49 (€32.80).
27 Monday Nov 2017
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Tags
al, local lodging, revenue, tax, tourism
Tax receipts from Local Lodging (“AL”) grew from €69,000,000 to €123,000,000 between 2015 and 2017, as revealed by the Secretary of State for Tourism, Ana Mendes Godinho. “AL” license registrations also increased almost twofold from 28,000 to over 50,000 over the same period.
27 Monday Nov 2017
Posted in Posts
Following similar moves in London and Amsterdam, the holiday letting firm announced that hosts in four key Parisian neighbourhoods will only be able to rent out their entire homes for no more than 120 nights per year starting in 2018. The restrictions will bring Airbnb into line with current local regulations. Paris is the platform’s largest city based on listings.
27 Monday Nov 2017
Posted in Posts
Beginning 21 November 2017, it will be possible to carry out a money transfer between European destinations without incurring charges in just 10 seconds. Initially, only nine countries will benefit from this facility – Spain, Germany, Italy, Austria, Estonia, Latvia, the Netherlands, Finland and Lithuania. Unfortunately, the list does not as yet include Portugal. However, the initiative will be extended to all EU member states by November 2018.
27 Monday Nov 2017
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Introduced in 2017, the Additional Municipal Property Tax (AIMI) produced less than 40% of the expected tax receipts as forecasted by the Ministry of Finance. Instead of the €130,000,000 as originally estimated by the Government, AIMI taxation will give rise to just €50,000,000, far below expectations.
27 Monday Nov 2017
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Tags
amercia first, black list, common reporting standard, companies, compliant, confidentiality, crs, eu, offshore, rates, redomicile
For many years, Offshore Property Companies have been a popular solution, although sometimes practices could be a bit “grey” in nature. Due to repeated problems with tax evasion, Portuguese legislation eventually changed, penalising these structures. Offshore Companies began to suffer an array of punitive measures that turned them untenable. Other than direct ownership, property buyers are faced with a choice between Non-Resident Companies, registered in a foreign jurisdiction not on Portugal’s “black-list”, or Resident Companies, domiciled in Portugal.
However, the legislative landscape continues in flux. EU initiatives are instigating further change. Yesterday’s solution can become tomorrow’s problem, leading many owners to consider redomiciling their Delaware companies to Portugal.
13 Monday Nov 2017
Posted in Posts
Tax receipts from Local Lodging (“AL”) grew from €69,000,000 to €123,000,000 between 2015 and 2017, as revealed by the Secretary of State for Tourism, Ana Mendes Godinho. “AL” license registrations also increased almost twofold from 28,000 to over 50,000 over the same period.
13 Monday Nov 2017
Posted in Posts
Tags
company, entrepreneurs, portugal, start up, visa, web summit
At the opening of the 2017 Web Summit in Lisbon, the Minister of the Economy, Manuel Caldeira Cabral, announced plans to create a residence visa for young entrepreneurs. The initiative aims to attract investment, talent and innovation to Portugal. As of January 2018, third country entrepreneurs who want to open a company will have quick access to a residence visa, allowing them to create or move their enterprise to Portugal.
09 Thursday Nov 2017
Posted in Article
Holiday Letting has been popping up throughout Europe, especially in the more tourist-oriented countries. We look at what measures are being enacted to regulate this ever-growing phenomenon.
DSG - in the pipeline 