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Illustrative case studies for Portuguese clients

The case studies illustrate the advantages our tailor-made solutions can offer.

A French national has decided to retire and move to Portugal, to benefit from the Portuguese Non-Habitual Residents regime (NHR).

Applicable also for Golden VISA program

Needs

  • A solution that complies fully with all regulatory and taxation rules
  • Wealth planning for the future and protection of his family
  • Remaining flexible for estate planning, should he decide to return to France after a couple of years

Solution

  • Taxation. The contract will be subject to the beneficial Portuguese rules for life insurance contracts instead of ordinary capital income taxation.
  • Estate Planning. Efficient and fast transfer of assets to heirs. No probation period, no collection of worldwide assets, no inheritance declaration.
  • Geographic Mobility. Policy can (with few exceptions) be kept active should the policyholder decide to change his country of residence (for example, moving back to France) – subject to amendments.
  • Simplified Reporting Obligations. Only the policy value to be included in his tax return.
  • Investment Flexibility. Handling different securities the client wishes to invest in – subject to approval.
  • Asset Protection. As the assets will no longer belong to him but to the insurance company (subject to rules for the avoidance of creditors’ defrauding).

A Portuguese national tax resident and successful entrepreneur, owns a large portfolio which is divided between several banks.

Needs

  • A simplified way to manage the portfolio
  • Flexibility of accessing the assets
  • A solution that complies fully with all regulatory and taxation rules

Solution

  • Local Solution. Portuguese life insurance solution and transfer of the assets to this contract.
  • Multiple Custodians. The contract can have multiple custodian banks for additional asset diversification and protection measurement.
  • Investment Flexibility. Handling different types of securities the client wishes to invest in – subject to approval.
  • Taxation. The contract will be subject to the beneficial Portuguese rules for life insurance contracts instead of ordinary capital income taxation.
  • Estate Planning. Efficient and fast transfer of assets to heirs. No probation period, no collection of worldwide assets, no inheritance declaration.
  • Simplified Reporting Obligations. There is no need to keep detailed records of all transactions, and calculate profit/loss, dividends, and interest income for tax purposes.
  • Full Access. The client is entitled to withdrawals at any time, and has full access to the underlying assets.

 

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For further information on how our solutions can meet the individual requirements of your clients please contact us:

privatewealth@swisslife.com.

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