Contents and Public Liability insurance is a must, especially if you intend to rent out your property. We will arrange quotes from prominent local brokers to ensure your peace of mind and yours and your guests’ security.
Tax planning and Accounting
Paying tax is an inevitable consequence of earning money, and in Portugal, in order to be tax-efficient and avail yourself of all the allowable write-offs, you need your tax affairs to be properly set up. We will arrange a meeting for you with our Accountant, from the accounting firm, ACOQ, experienced in dealing with affairs of this nature, who will ensure that your tax situation, here, is totally compliant with the Law.
Although this is no longer a mandatory requirement, it is still a good idea to have someone responsible for representing the owner, when it comes to matters of property / municipal taxation. We will supply this service, free of charge, to all our Managed Clients, through the accounting firm, ACOQ, when included with their tax planning and accounting services as detailed above.
In order to rent your property in the Algarve, legally, you are required, by law, to register your property as a ‘Local unit of Accommodation’ with the local municipality, and receive the ‘AL’ classification, which must be displayed, on a plaque, outside the property. This indicates that your property in the Algarve is compliant with the licensing laws and meets the necessary Health and Safety requirements. We will arrange for this process to be handled on your behalf, by the accounting firm, ACOQ, who are well-versed in expediting this process quickly and efficiently to ensure that your property in the Algarve is fully compliant with all local Municipal Regulations.