Securing Long Term Wealth for Affluent Expat Family in Portugal

What was the goal?

Sophia and Richard. B, a wealthy couple with substantial private wealth, sought to secure their family's financial future in Portugal. They faced challenges in tax planning, cross-border structuring, and ensuring long-term security for their income and assets. They needed a comprehensive strategy that would provide clarity and peace of mind for the future and wanted to understand how to structure for NHR tax status and how to be prepared for when the 10-year benefit ends.

"Beacon Global Wealth Management made securing our family's financial future in Portugal so much easier. David Vacani and his team were extremely supportive and professional, they guided us through complex tax planning, saving us €1.4 million. Their expertise gave us long-term security and real peace of mind for the future."– Sophia and Richard B.

Solution:

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1. Comprehensive Financial Consultation:
    
   • Conducted an in-depth analysis of their income sources, investments, and family wealth.
    
   • Developed a customised strategy for optimal tax positioning and asset growth in Portugal.
 
2. Tax Structuring and Optimisation:
    
   • Cross-Border Structuring: Implemented strategies for cross-border structuring of their income and assets, ensuring compliance with both      Portuguese and international tax laws.
    
   • Tax Efficiency: Created a tax-efficient structure that minimised their tax liabilities while maximising their financial growth and security.
    
   • Longevity Planning: Developed a plan to ensure the longevity of their wealth, securing financial stability for future generations.
 
3. Asset Protection and Growth:
    
   • Capital Growth Protection: Advised on strategies to protect and grow their capital, ensuring their wealth remained robust and secure.
    
   • Income Optimisation: Created diversified income streams to minimise tax impact and maximise cash flow, providing long-term financial stability.
    
   • Family Wealth Security: Implemented a plan to ensure the security of their family wealth, offering clarity and peace of mind for the future.

Results:

• Significant Tax Savings: Achieved tax savings of €1.4M over 15 years by implementing a tax-efficient structure and leveraging international tax treaties as well as NHR tax status for 10 years and mitigating progressive taxes post NHR through early planning and structuring using a European regulated bond structure where you only pay small percentage of tax on the growth and 0 tax rate on the original capital.

• Enhanced Wealth Growth: Delivered a 3X increase in family wealth through robust asset growth and income optimisation.
• Long-Term Security: Established a clear, effective plan for long-term financial security, ensuring peace of mind for the Sophia’s family's future.

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Summing up

Our structured planning, tax optimisation, and asset protection strategies helped Sophia and Richard. B secure their financial future in Portugal. By leveraging international tax agreements and strategic financial planning, we provided significant tax savings, robust asset growth, and long-term security for their family using European regulated insurance wrapper/bonds to optimise their tax position for when NHR tax status ended which mitigated a potential 48% hike in progressive tax post NHR. We regularly update our clients, assess portfolio performance, and make recommendations and adjustments with the family every step of the way.

If you face similar challenges and seek expert guidance, we work with wealthy families to provide peace of mind and personalised plans to meet your life goals.