There is no doubt that buying a property overseas is a big investment and one no one takes lightly, but many people get so caught up in the hunt for their place in the sun here in the Algarve that they forget to insure it after purchasing.
In Portugal, when you are looking for a short or long-term rental, you may find that the property you are interested in may be managed by a landlord or by a property management company. In this article we aim to give you a brief overview of the difference between these two sets of rental management.
This is one of the things that really surprised me when I arrived in Portugal and became a resident: - the enforced disclosure of your social security / identity number / fiscal number requested everywhere and by everyone. This was especially disturbing after all the stories that I have read about identity theft in the international mainstream media. But it is part and parcel of life in Portugal.
We are now going to talk about selecting the best accounting firm in the Algarve. In Portugal, accounting firms are typically referred to as "Contabilistas", although many local accounting firms in the Algarve, are in fact just traditional bookkeeping services and nothing more. So you need to assess the type of services that they do indeed provide.
You have been on holiday, fallen in love with the country and bought yourself a second home in the Algarve, that you are planning on using for vacations, renting out as an investment or to live in permanently. Now, if you have bought a local home, it is a very good idea for you to open a bank account with a local bank.