Know Your Client Rule Before providing you with advice, investment advisors must meet the requirements of the “Know Your Client” (KYC) rule to ensure their advice is suitable for you.
When the Brexit transition period ends at the end of the year, UK residents won’t be able to come and go as they please, which is bound to affect demand for second homes in Spain.
Earthquake risk study reveals dark scenario PRELIMINARY RESULTS from a study assessing earthquake and tsunami risks in the Algarve have revealed that a tremor like the one experienced in 1755 could lead to around 3,000 fatalities and make 27,000 people homeless in the region (See The Resident, September 7, 2007).
When a property is divided in fractional units it is as you well know constituted in horizontal property. If all fractional units resulting from the horizontal property title belong to the same owner, there is no condominium but if, at the same time, each fractional unit belongs to a different owner, we have in fact a condominium. The horizontal property title is the very basis of the condominium and each owner is a “condómino”.
Unfortunately these things happen here as well.
The legal procedures for termination of a marriage agreement by divorce can be relatively straight forward if both partners agree to divorce, are of the same nationality, were married in Portugal, and have nor children or financial commitments. However, for foreign residents living in Portugal this will rarely be the case.
Importation/Registration
The easiest way of acquiring a vehicle with valid Portuguese registration documents is to purchase a new vehicle from an authorised agent in Portugal who will register the vehicle for you. This has the added advantage of having agents close by to provide service, guarantees, and spare parts. However, importation is an option and there can be tax advantages for new residents from within the EU who import a vehicle they have owned for more than 12 months. You cannot have a foreign licenced vehicle in Portugal for over 6 months in a year, after that time you need to legalize the vehicle by importing it. In order to do the car Importation you should follow these steps: Firstly, to use the vehicle legally whilst the importation process is underway, the owner should apply at the Customs for a long-term permit Guia de Circulação. In the same place the owner will, when applicable, apply for exemption or determination of vehicle tax. The vehicle will then be registered with IMTT and the Documento Único (Car Document) will then be posted to you.
One of the tasks of an estate agent should be his ability to carry out valuations on properties. To do this properly one obviously need to have good knowledge of the local market, for that reason it is advisable to appoint somebody who is familiar with the area the property is situated in.
ALL DRIVERS of passenger vehicles and motorcycles who are 50 in 2008 must renew their driving licence this year.
The age limit for renewing driving licences was previously 65. The change aims to better control the “physical and psychological skills” of drivers in Portugal.
On the 10th. of August of this year (2006), the Governement finally approved the new law dealing with Residencias. The new Residency Law regulates the free circulation and residency of EU Citizens in Portugal. Transposing the EU Directive of 2004, this legislation changes basic assumptions and definitions while greatly simplifying the compliance process for EU citizens. The statutes define three phases and are in harmony with similar measures being adopted throughout the 25 member countries of the European Community and Switzerland.
