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What was the personal situation or challenge?
Jasper, an accomplished entrepreneur from the US who serves on the board of a restaurant chain based in Portugal, relocated to Vale do Lobo, Portugal, seven years ago. Through consultations with Portugal Pathways, Jasper and his wife explored various visa possibilities and concluded that the Golden Visa would be the ideal option for them then.
The Golden Visa has been a perfect fit, granting them residency and access to Schengen EU member nations and the Non-Habitual Residency (NHR) tax regime. This was perfect for their European travel plans and significantly reduced their tax burden compared to their high progressive tax status in the United States. Portugal Pathways has also provided them with opportunities to invest further and enrich their lives in Portugal with significant capital growth on their assets within the highly advantageous NHR tax system.
Last year, Jasper wanted his daughter and her family to join him in Vale do Lobo. His daughter, however, was apprehensive about the move and concerned with potential obstacles to obtaining residency. Additionally, the shift would substantially alter her young family's life. Despite her ability to work remotely, his daughter's career would still require occasional trips back to the USA, adding to her challenge.
How did Portugal Pathways help?
Jasper and his wife directed their daughter to us to devise a plan that met her young family's needs. Due to Jasper's possession of a Golden Visa, residency eligibility was extended to his daughter's family. They quickly seized this opportunity, obtaining their residency without delay, and we were able to help them navigate the process, locate a property not too far from their mother and father, and optimise their financial affairs.
We introduced Jasper's daughter to the Non-Habitual Residency (NHR) tax program, a plan allowing her to pay 0% tax on non-Portugal-derived income. She works remotely, running a property rental business in Chicago. The advantages of the Golden Visa allowed her to take advantage of the substantial tax benefits and enabled her to travel back to the US half a dozen times a year.
Regarding the actual move, Portugal Pathways was on hand whenever she needed it so that she could concentrate on her work and young family with minimum stress. This ensured a seamless and worry-free transition to their new residence in Vale do Lobo and culminated in Jasper and his wife having their family and grandchildren close by.
