As a property owner in Carvoeiro and one who is totally confused with the change of Tax treatment for such companies, can anybody explain to me in very simple terms the impact the changes will have on the property market and what are the choices?

Should we reverse our offshore companies out of this status and into conventional ownership and how is the cost of doing this calculated?

What are the majority of beneficial owners of Offshore owned properties doing?

Regards

Tony Donnelly

Tony, I guess you have read the info on the Finance Section?

I believe that until the small print of the proposals is drafted as law and actually available it would be foolish to make any changes at this stage. Sit tight for now and lets see exactly what develops especially with regad to the increased rates and the presumed income imposed in the last changes.