What was the personal situation or challenge?
Michael Anderson, a financial advisor from New York, was looking to expand his operations into Europe by relocating to Portugal. While excited about the opportunities, he was worried about the complexities of managing international business finances, taxes, and compliance across two continents from a new business base in the Algarve. His concern was finding a business platform that could handle the intricacies of cross-border accounting, streamline his financial operations, and be compliant with Portugal's annual returns and reporting without overwhelming him with the administrative burden.
With a family to consider, Michael also needed a solution that would allow him to focus on growing his business while ensuring his personal finances and his wife's self-employed business could also use the platform and be well-managed in Portugal.
How did Portugal Pathways help?
Portugal Pathways introduced Michael to their partner's Fintech business solutions platform, which allowed him to manage all his accounting, invoicing, tax filings, payroll and financial reporting in one place. In addition, they provided seamless business formation and banking setup, allowing Michael to open his local business accounts quickly and start operating in no time. The platform gave him a clear view of his business's financial health, ensuring compliance with both U.S. and Portuguese tax regulations. By centralising his financial management, Michael and his wife saved both time and money, especially during end-of-year returns.
Additionally, the platform's user-friendly interface made it easy for Michael to oversee his business finances from anywhere via his smartphone, allowing him to focus on expanding his client base across Europe. The easy-to-use technology was highly responsive, giving him peace of mind that his financial operations were running smoothly and ensuring that any regulatory issues were handled swiftly. The support desk came back and answered queries and questions in no time.
