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MEET PAUL NICHOLSON FROM ST.JAMES GLOBAL From St James Global, a big welcome and thank you to Richard Bassett from East Algarve Magazine for inviting us to this exciting initiative and the first of many articles on International Financial Planning for Non-Habitual Residents of Portugal.
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t James Global was set up in Guernsey in the Channel Islands in 2002. The company provides offshore investment advice and asset protection to expatriates around the world, encompassing reliable retirement, estate and succession planning, security and peace of mind. The key individuals have been helping international investors with their international investments and structures for over 30 years, providing clients with the experience and know-how they deserve in a world of ever changing tax legislation and compliance. St James Global is truly independent and can provide unbiased and impartial advice across a universe of products, services and jurisdictions. Our products and services are designed to protect and preserve wealth in a safe and secure environment with particular reference to transparency of fees which are amongst the lowest in the industry, combined with an active but careful management process. Founder, Paul Nicholson lives with his wife and 3 Jack Russell’s in Tavira, having relocated from Cape Town in 2019. St James Global was established in Portugal in 2018 and has been successful in increasing the company's profile and clientele ever since. With offices in Vilamoura and Tavira, the team at St James Global have, and will continue to be involved in various initiatives throughout Central and Eastern Algarve. The St James Global Invitational Trophy was held in May with finalists from five clubs in the Algarve presented with a three course meal, a personalised uniform and a lot of bubbly held at Monte Rei Golf & Country Club. St James Global hopes that this will become an annual event, offering various golf clubs a new and exciting competition that will also support the charity of the club’s choosing. Our last event was a great success and St James Global were pleased to donate to charity €10 for everyone who reached the green on the 7 th hole. The
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charities chosen by Vila Sol were Akredita - a children's charity/day centre in Quarteira, with the St James Global Private Clients generously topping up the donations to a total of €500. St James Global have been hosting short presentations throughout the Algarve to introduce their financial services, designed specifically for new or existing non-habitual residents of Portugal. The gatherings are both relaxed, informative and fun and have proven extremely popular. A series of presentations will take place at various venues throughout the Eastern Algarve commencing February 2022. Whilst this is a few months away, time passes so quickly - if you would like to receive an invitation at a venue near you, please do let us know in advance so we can plan accordingly. Canapes, wine and malt are complementary to those who attend. Going back to finance, the common objective when it comes to money in retirement is quite simple and often overlooked – SECURITY, ADMINISTRATION, PERFORMANCE AND SERVICE. It is our aim, as experts in international financial services, to provide you as an expat and international investor living in Portugal, with a simple, easy to understand and uncomplicated solution, enabling you to protect and preserve wealth well into the future. Our objective is to help our clients effectively move personal wealth out of one’s individual names, and thereby ensure that they bypass probate both in their country of residence and each country in which assets are located. This not only creates a managed environment for your money to grow outside of your estate, but is also incredibly tax efficient, in particular for those looking for income in retirement. Assets pass onto future heirs immediately and without costly and expensive probate. Our job is to help you maximise income in retirement through inexpensive and well-diversified investments and at the same time, provide you with a practical, cost effective and tax efficient way of consolidating world-wide assets held under one
structure. Now, in the case of Portugal which will be my focus, we have to look at the fiscal rules and regulations around a product that will be well suited for Non-Habitual Residents (NHR) in Portugal and be tax compliant in the country of domicile and where one’s assets are situated, for example, the UK. International Retirement Trusts are attractive alternatives to discretionary trusts for Expats living in Portugal who wish to secure their long-term financial future specifically for retirement planning purposes. They are ideal structures for Portuguese Non Habitual Residents who wish to consolidate assets offshore, either by cash or existing assets and investments. The Pension plans are backed up by a robust piece of pension legislation and offer retirement planning opportunities to investors who are looking to secure their long-term financial future. They are flexible, bespoke and are arranged in one of the most secure jurisdictions in the world. Looking at tax, in the case of UK Expats living in Portugal, one does however, need to look very closely at their tax residency if they are no longer tax resident in the UK, other than paying UK taxes on UK situs assets such as UK properties. Care needs to be taken to ensure you do not breach UK residence rules. The UK statutory residence test will enable you to answer the questions and confirm the number of days you can spend in the UK without becoming a UK tax resident. We at St James Global look forward to sharing many more informative articles and information with the ultimate aim of helping you, as a client, maximise income and your net worth into your retirement. We look forward to meeting you at one of our retirement presentations and will keep you posted on venues and dates in the January edition. For more information, contact Paul Nicholson, paul@stjamesglobal.com or visit our website www.stjamesglobal.com
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