We advise many Irish expats living abroad on how to minimise their potential tax liabilities.
Inheritance tax mitigation is a major issue. We will assist in the structure and preparation of Wills so that it is compliant with Irish and Portuguese Law. In many cases, a correctly prepared Will could lead to little or no Irish inheritance tax payable on the estate in the event of their death, and at the same time, no death duties in Portugal.
In addition, we will assist with the tax implications and opportunities of leaving Ireland and taking up tax residence in another jurisdiction. We have extensive experience of Irish individuals moving to Portugal, Spain, and the UK.
Structuring your financial affairs is important. For example, the rate of tax to investment income can be as much as 55% rate of tax in Ireland, whilst in Portugal, we can eliminate such taxes by exemption. It is very important for clients to understand the tax treatment of investments, and the various different types of investment product available to them to negate tax.