About klfitch

Status:

Preparing to Move Abroad 

Gender:

Female

Currently Lives:

Citizen Of:

United States

Some Forum Posts:

Portugal: TAXES IN PORTUGAL:

It does seem complicated plus not very beneficial for a US citizen. The tax rate on lower incomes are much higher in Portugal. We planned to live on money in our savings account the first couple of years (approximately 50k per year) plus take a small amount from 401k if needed. In the US, the 401k would not be taxed if under the personal exemption amount but it appears the Portuguese tax would be 28%. Is this correct? Thanks so much.

Portugal: Help with Investment Co Ques-US citizen retiring to Portugal:

We are planning to retire to the Algarve next year and were talking to the company that has our main retirement account. We were told that they cannot deal with us in Portugal since we will not have an address in the U.S. They said any company will have this problem. They want us to get assign a power of attorney in the U.S. which we would prefer not to do. Does anyone from the U.S. have an investment company they deal with that I could contact to ask about this? The company we are using only have offices in the U.S. but acted like a company with international offices would also have a problem. I am not sure why this matters if I would keep a bank account in the U.S. and plan to open an account with a Portuguese bank after finding a long term rental. Please send any advice or share your experience. Thanks so much.

Portugal: Questions for move:

Hello We are planning to retire next year and move to the Algarve for the first few years. We hope to find a long term rental in the Carvoeiro area since this was our favorite during our visit. Any advice on how to search for rentals? I've seen the list of sites but should we contact real estate offices too? We will also need to have a car as we have two large dogs. I have read that buying a car is expensive and you would then have to do Portuguese taxes. Are there any other options? I have read that long term rental can be done rather cheaply but only during off months (Oct-Mar). Any ideas? Finally (for now). Any advice on things to bring with us from the states that are hard to find in the Algarve? Currently we just plan to bring a few suitcases of clothes and our dogs. Thanks so much - Karen

Date Joined:

7/27/2015

Total Posts:

3

Posts/Day:

0.00