Nov22 East Algarve Magazine

Let us showcase your property!

The buyer of your property could be anywhere in the world

Fine & Country Algarve takes part in seminars and exhibitions all over world, enabling us to meet potential buyers one-on-one and present our listings. Between September 2022 and June 2023 our busy events schedule covers Paris, London, Spain, The USA and South Africa. Our presence at these international events enables us to maintain a constantly growing database of qualified buyers, backed up by our award winning marketing and the strength of the global Fine & Country brand.

Please contact our Tavira office:

East Algarve (Tavira) +351 281 023 263 | AMI 11564 | tavira@fineandcountry.com | algarve.fineandcountry.com

International head office Park Lane London | UK telephone 0207 3180631 | 121 Park Lane, Mayfair, London W1K 7AG, United Kingdom

France g UK g Spain g USA g South Africa

East Algarve

PUBLISHER & DESIGNER

Richard Bassett

EDITOR

Richard Bassett

CO-FOUNDER

Richard Bassett Snr.

ADVERTISING

Call 961 700 200 or email ads@eastalgarvemag.com

DISTRIBUTION

3,500 copies printed. All advertisers are issued copies for distribution, along with retail outlets.

COVER PHOTO

Richard Bassett

All rights reserved. Except for normal review purposes, no part of this magazine may be reproduced without the written permission of the publisher. Every care has been taken in the preparation of this magazine, but the contents are only meant as a guide to readers. The proprietors of this magazine are publishers not agents or sub agents of those who advertise therein. The publisher cannot be held liable for any loss suffered as a result of information gained from this publication

Welcome...

... to your November issue! This month we visit one of, if not the, most beautiful parts of the Algarve, Fábrica and Cacela Velha. Our cover photo for this month was taken looking over the roof of the church in Cacela Velha, looking east toward Spain. We also meet Alexandre from Hair Ritual in Olhão and find out how he came to live here, start a new career and open his own salon. Still in Olhão, we were lucky enough to try the delicious food at the recently opened À Margem da Ria in the Ria Marina Center. We meet the owner and head chef to find out more about their concept and menu. Every year Tavira celebrates Álvaro de Campos. Find out about his creator, Fernando Pessoa. All this plus finance news, gardening, health news and much more. We welcome your comments, please email us on info@eastalgarvemag.com

Richard Bassett, Editor

Unipessoal Lda

À Margem da Ria

Spectacular views, contemporary design and traditional food, this restaurant offers a bit of everything

The name 'À Margem da Ria' translates to 'the edge or Border of the Ria'… as in the border of the incredible Ria Formosa, over which this restaurant looks.

Joel Mestre, his wife Inês and business partner Álvaro opened the restaurant located in the recently opened Marina Ria Center. The center is a great addition to Olhão, located opposite the Marina Hotel, at the western edge of the waterfront. It offers an excellent alternative to the 'old town' of Olhão, without spoiling the charm the City has to offer.

À Margem da Ria has a very modern feel, with a large seating area inside, with an outside terrace of similar size offering wonderful views. The setting may be contemporary, but the menu consists of traditional Portuguese dishes.

Chef Guida is from Olhão and is super creative with her presentation, which also adds an extra special flavour

to her dishes. For example, the black and white sesame seeds compliment the Tuna perfectly, as does the fruit in her Cataplana and the figs with Octopus. Guida cooks with passion and love, she has always enjoyed cooking with Mediterranean ingredients, always local and fresh. She remembers the love for cooking as a child, enjoying freshly caught fish (her father was a fisherman), and vegetables from the land as the family lived in the country. This reflects perfectly in her menu... the Land, the Sea and the Ria.

The restaurant has a full international bar and serves Portuguese wines from the Douro, Alentejo and Algarve regions, they also make a great Sangria.

In the future the restaurant will have regular Fado nights over the winter period.

For details see their Facebook page ' amargemdaria' or call +351 919 019 315

Ownner Joel Mestre with Chef Guida

For those living in the East of the Algarve, autumn comes like a breath of fresh air. The heat of the summer has passed bringing more agreeable highs of 26℃. Along with the end of +40℃ heat, the endless stream of tourists, mainly from Lisbon, Porto and Braga, has come to a halt. The South East has been returned to its residents. The heaving beaches are all empty and a gentle quiet contentment has settled in, shopkeepers and restaurateurs have time for their customers and are happy to once

more engage in conversation with visitors and tourists. In short it is the perfect time to explore the area.

I recently benefited from the relaxed vibes myself. I had walked along the beach from Cacela Velha to the next beach Fábrica.

I had heard rumours of the old building on the waterfront, some had said it was a canning factory and others had said it was where the tuna was brought to once caught. The internet was of no help as Fábrica in Portuguese means Factory, I ended up with a lot of information about factories all over the Algarve! Intrigued, I spoke to the gentleman at

the kiosk where I had ordered a tea and was admiring the beautiful serene view of the RIa Formosa.

To my delight I was told that the building enclosed and surrounded by a tall wall was indeed a factory, known by locals as “Fábrica dos Ingleses” which is how the village came by its name. However, it had nothing at all to do with fishing or the sea even.

The surrounding area has long been known for its pottery, as the land is rich in clay. In 1889, in the tiny village where fishermen and their families lived, a factory was erected. At the time it was one of the largest factories in the Algarve

Fábrica & Cacela Velha

Located at the most eastern point of the Ria Formosa, is, in our opinion, the most beautiful part of the Algarve

and one of the most important in Portugal. After purchasing the rights (technology, machinery and moulds) from an English company, Clayton and Cie, the factory soon began producing ceramics. Tiles, bricks, balusters as well as kitchen ceramics were manufactured.

The factory closed in 1930, the steam engine, boilers, crushing and grinding workshop, central fireplace, kilns, moulding workshop, drying areas, glazing centre and director’s residence have long since gone. The ruins remained for years, when in the first decade of the 21st century, a magnificent residential house was built, erasing the few material

remains of the various elements of the factory. The only remnants that can still be seen lie outside the walls of the old factory, a slope made entirely out of bricks, leading into the Ria Formosa that once carried the trademark of Clayton & Cie, but those too have now all faded away with the constant changes of the tide and natural elements.

Cacela Velha is right next door and its beach was voted one of the 15 best in the world according to Condé Nast Traveler and one of the top 10 by The Guardian, UK. It is one of the best in Europe for those who enjoy a walk and appreciate a truly wild landscape, almost

untouched and without endless concession stands.

The village of Cacela Velha is an ancient idyllic village protected by a walled fortress. It has a mix of styles, taking us back to when the Muslims built a castle here and fortress as primordial defence due to being on a high cliff.

Today, within the walls of the fortress, with two bastions, you’ll find the GNR and its maritime headquarters. Up until a few decades ago, the surrounding houses belonged to guards that used to work there. All was rebuilt after the 1755 earthquake.

The church (Igreja Matriz) is another must-

see, a stunning view of Fábrica can also be seen from here, with unbelievable sunsets. A clear view of the ocean and the strips of fine white sandy beaches that are forever changing in shape, size and colour depending on the wind, tide and sunlight provided throughout the daytime.

The sand strips create a natural physical barrier against the advancing of the sea, which protects the calm and shallow waters of the Ria Formosa. The dunes are covered by several species of plants, many different types of birds can be seen and spotted in this breathtaking nature

reserve.

Cacela Velha is a magical place with a history older than that of Portugal. The church has possible origins as a Muslim mosque, this temple has three naves with arches and arches set on columns, with large windows on the walls of the naves and includes a Renaissance-style chapel.

The authentic small Portuguese village of Cacela Velha, consists of only a few houses.

There is a small cafe with changeable opening times, a tapas restaurant open all year, except for January and February, one seafood restaurant located close to the

church, open mainly in summer and one more restaurant to the left upon entering the village, typically closed for the month of January.

If you decide to visit, we can highly recommend a private boutique room by the beach in the village of Cacela Velha. While here, make sure to pick up a copy of East Algarve Magazine.

Contact: casacacela@gmail.com for bookings. Visit www.eastalgarvemag.com

Travessa Almirante Candido dos Reis 139, Tavira 8800-318

Telephone: +351 963 882 952

Facebook: Franganario Tavira

Ruy Barros

Hairstyling & Beauty Salon Ladies & Gents

Welcome to our new space in the centre of Tavira! With a professional and friendly service. Cut, colouring, perming, hair extensions, hairstyling, hair treatments, massages, face/body treatments, make-up artist, epilation, laser, lash extensions, gel nails, nail art, gel polish and much more.

MON - SAT 09.00H - 19.00H

All year Travessa Zacarias Guerreiro No16, Tavira Tel +351 281 023 636 Mob +351 964 888 810 or 913 999 906

Email: rbcabeleireiros@gmail.com Rui Barros Cabeleireiros e Estetica

The family-run Amesbury Abbey Group offers an elegant retirement in country house style at Monte da Palhagueira.

For those who are looking for the reassurance of constant professional care, our nursing care may be the way forward. Alongside all the benefits of residential care, our nursing care adds the additional security of 24-hour care provision from qualified nursing professionals.

Our team spend a lot of time getting to know each resident as an individual, learning their preferences and understanding their concerns, working hand in hand with GPs and other associated care professionals to provide outstanding personalised nursing care.

Our exceptional care team treat all our residents with respect, dignity and friendship, and our nursing home has a warm, family atmosphere. Each individual aspect of our nursing care is designed to give our residents the best possible quality of life and the highest standards of 24-hour care.

For further information, please contact Senior Sister Hazel Gordon at T: +351 289 990 900 E: mdpnursinghome@amesburyabbey.com Monte da Palhagueira, Gorjôes, 8005-488 Santa Barbara de Nexe, Algarve www.retirementvillageportugal.co.uk

Located in the beautiful grounds of Pedras d'el Rei, Restaurant Vale D'el Rei is the ideal location for your festive celebrations. Large or small groups catered for.

TheCutting edge

This month we had the pleasure to meet Alexandre Dias, owner of the salon Hair Ritual in Olhão.

Alexandre was Born in Setúbal and left his family and home at only 20 years old, moving to Olhão in 2013 on an 'adventure' after meeting his partner on Facebook.

Up to this point his interests had always been in fashion, however, upon arrival in Olhão he worked in a bakery and in a number of kitchens. It wasn't long before his creative side began to itch and he started to make his own jewellery. In an effort to sell his jewellery, Alexandre asked himself 'where could he find his potential clients?' His answer was at the numerous hair dressers in and around Olhão. He asked permission to show his work to customers having their hair cut and this proved to be a success for the time being. Of

course, during this time he watched many hairdressers working and thought to himself that he could potentially do this. It was then he decided to start training as a hairdresser.

Alexandre would eventually learn his profession at the prestigious Jean Lois David Salon in Faro, who have 37 salons in Portugal alone. They are a famous international brand, the equivalent of Tony & Guy in the UK and provide the highest level of training.

Hair Ritual opened on the 5th October 2019 just before the Covid-19 Pandemic hit. It's fair to say, that the first two years have not been easy, but due to Alexandre's professionalism and friendly character, things have improved tremendously. He has even been approached to expand his business and take over the two adjoining premises.

We asked Alexandre what is the most important skill required to be a great

hairdresser? His answer was to simply 'listen'. He explains that the name 'Hair Ritual' comes from the process clients must go through to get the results they want.

It's important to get to know the client… the products used, to check the condition of hair and even check the scalp with a microscope. Tests are then made on hair samples. It is only after this 'ritual' that the perfect product can be chosen.

Hair Ritual's cut hair for both Men and Women. ‘Completing the salon’ is Jacqueline from America, who provides numerous types of massages.

Contacts;

Email: hairritual.cobeleireiros@gmail.com Tel: +351 289 170 459

Address: Rua José Amáncio Correia Júnior, Tote 19, loja A, Urbanização Village Marina Olhão.

Facebook and instagram: ’hairritual’

Determination, personality and devotion all come together to make Hair Ritual salon by Alexandre Dias in Olhão a great success story

Everyone is welcome, all nationalities, beginners and experienced, to play golf croquet on our lawns at Pedras da Rainha in Cabanas de Tavira.

If you want to come and meet us you will be made very welcome any Wednesday or Sunday morning after 10:00 and your first time is free, or for more information contact us by email.

Av. Min. Duarte Pacheco 62, Vila Real do Santo Antonio. Tel: +351 910 316 397

The soft power of Thai Massage It´s believed that our body remains healthy if we maintain the energy balance in our body in relation to the energy of the universe. If there is an energy imbalance, the body will get sick. We Massage to treat back pain, Severe Office Syndrome, Osteoarthritis, neck and shoulder pain, scapula pain, knee pain, These injuries from exercise can be treated without surgery.

A FUN

TO MEET LIKE MINDED PEOPLE AND BY THE WAY, WE ALSO PLAY

Selling a property with or without a real estate agent?

enerally speaking, it is perfectly legal and possible to sell your property in Portugal without using an estate agent. So if you know the market, are not afraid of the time and financial effort, speak a few foreign languages (no obligation but quite helpful are at least English and Portuguese), know the mentality of different nationalities, know which internet portals "work", how to prepare the property for a viewing and, advantageously, know at least one sales technique, you can save the commission and sell it yourself. For all others, I highly recommend the services of a professional (very important!) estate agent (as well as a lawyer/legal advisor and a tax advisor). To hire a professional real estate agent/broker is like getting married: you should take your time when choosing the right partner, as the saying goes: marry in haste, repent a leisure! Even if you don't commit yourself "forever", there is

a lot of money at stake, so a good choice is worth hard cash!

Important: most private sales fail not because of will or knowledge, but because of the lack of a "neutral third party" to "moderate" the emotions of both sides (buyer and seller) and mediate between them, particularly with price negotiations.

Advantages of selling with a broker...

• Has market knowledge

• Can give me a price range for my property

• Time saving; they take care of the photos, videos, internet portals, correspondence with buyers, etc.

• Checking the necessary documents

• Organises and conducts viewings

• Conducts price negotiations

• As a rule, the agency has employees speaking different languages who look after buyers from different countries (and know the respective mentality).

• Local knowledge (schools, hospitals, etc.)

• Carries out a "qualification" of the buyer

before presenting my property; sees if buyer and property "fit" together

• Knows how to present my property and can give me advice for a better sale

• Is familiar with the authorities

• May already have a potential buyer

• Works with other agents

Disadvantages

• Costs commission

In summary, working with an agentoffers quite more advantages than disadvantages, but there are a few things to consider when choosing a broker, more on this in the following chapter. If you don’t want to wait for the coming issues to get questions answered like "how to choose the right, professional, agent", "how to establish the right price for my property", "how to prepare my property for viewings", etc., then join one of our free "Real Estate Talks". Reservations by e-mail: info@twin-key.realestate or mobile phone (+351 968 771 577)

Stephan Schade from Twin Key Real Estate is offering free talks on everything you need to know about... you guessed it, Real Estate!

SUPERB 3 BED VILLA WITH POOL - €997,500

Located in Conceição de Tavira, this property is in excellent condition and consists of: living room and dining room, equipped kitchen, two bedrooms and a large terrace. Can also be purchased furnished.

A classic villa fully refurbished to the highest standards, walking distance to the beach in Altura. Fully equipped with 3 spacious bedrooms all en-suite. A/C in all rooms as well as radiators. Heated pool with swimjet.

T1+1 IN COSTA CABANAS WITH COMMUNAL POOL - €235,000

Open plan living room / dining area and kitchen fully equipped and 2 bedrooms, 2 bathrooms. From the kitchen there is access to a terrace with barbecue and a large dining area.

This contemporary 4-bedroom villa in Santa Rita, Vila Real de Santo António, close to the beach and all the amenities. The property offers a spacious interior layout with high quality finishes. A special feature of this house is an incredible outdoor area, with impressive countryside and sea views. Make the most of the outdoor living with a large al fresco dining area, BBQ area, private pool and mature gardens.

Lounge overlooks the south facing garden & open countryside, offering dramatic views of both sea & mountains from the garden & also from the very large roof terrace.

Excellent condition, consists of living room and dining room with air conditioning; equipped kitchen and two bedrooms one with en-suite. Large veranda. One parking space in the garage.

INFLATION... AS SAFE AS HOUSES

Bijker, Happy Homes Algarve

After two years of uncertainty people fully embraced the freedom to travel in 2022. It’s been an excellent year for the hospitality sector. For most of our homeowners of self-catering accommodation in the Algarve rental income is at an all-time high and the year is not over yet!

Every year in October/ November Happy Homes Algarve reflects on the past 12 months and the year ahead to fine tune our business, marketing strategy and to capitalize on trends in the market. One of these trends is the increasing demand for good quality long stay properties during the low season. These stays vary from 2 to 6 months and have the added benefit for home owners that the utilities are being paid for by the tenants. We are also witnessing strong demand for short stays in the 2023 summer season with some properties already being 90% booked.

Currently, high inflation is an issue all over Europe, with Portugal it is no different. Homeowners are confronted with higher costs such as electricity and gas. Although energy prices in Portugal have increased, they are minor in comparison to prices in Northern Europe. Gas has risen in price more than electricity. According to Eurostat data, Portugal is one of Europe's least reliant countries on Russia for energy, accounting for 5% of its total needs. Most gas is being imported from Algeria and Nigeria. Renewables account for almost 30% of total energy consumption which is reflected in the benign 5% price increase of electricity. In some months of the year the electricity generation is 100% renewable, for example in May & June 2022 all electricity was generated from hydro energy. In summer there are days that solar energy contributes to 100% of the energy needs of the whole country. This explains why the price of

From property expert Robert

electricity has not gone up much and is a big compliment for Portugal´s efforts in the transition to renewable energy.

Real estate is known to be a good hedge against inflation. Those who have a mortgage against their property will find that inflation erodes the value of the mortgage over the years. However, if you rent out your property for part of the year it is tempting to pass on some of the higher costs to the renters by increasing the rent.

As most homeowners in Northern Europe are confronted by much higher price increases for energy, some are more eager than ever before to increase the rental rates of their property. Although this is understandable, it may not always be a good idea for various reasons. As head line inflation is 10% or more depending on their home country, some owners are considering to increase the rent by 10%. However the increased cost of letting only affects part of the cost, not the total rental value. The costs that have gone up are cleaning, laundry, electricity and gas. Only gas had a double digit price increase, the others are well below 10%. If we hypothetically assume these costs went up on average by 10%, this would not affect more than 30% of the rental income. As a consequence, if one were to contemplate increasing the rent, a 3–4% rise would be preferable to imposing one–to–one headline inflation of 10%+. Of course, there are factors besides inflation to

take into account when deciding whether to raise or maintain rental prices.

The increasing cost of airfares and airport taxes for your clients is one of them. Although people continue to fly, at some point their patience may run out due to record-high ticket prices. If the majority of your renters are Portuguese this will not affect them. If they are from abroad they are also faced with less purchasing power due to high inflation. In addition some of your renters may have a mortgage and could be vulnerable to higher interest rates. Again have a close look where the majority of your renters are coming from, as in some countries people prefer to have an adjustable floating rate mortgage (Portugal, England) versus others who prefer a fixed rate mortgage (Netherlands, Germany). The first will feel the pinch of higher rates while the latter are mostly unaffected. So if the disposable income of some of your renters is down by 20 – 35% it may not be a good time to increase the rent. However, there is more to it than that. Just like some industries or companies within an industry have more pricing power than others, the same may hold true for your property. It depends on a number of factors such as the current rental values, location, how much competition there is in your location and where your client base is coming from. Some of these you have control over, some you don’t. These are some things to consider when you contemplate increasing

the rent. As an individual homeowner you may feel a bit lost, for us it is our daily business. Happy Homes Algarve is currently looking to add good quality rental villas, Quintas, village houses and apartments to their portfolio in the East Algarve to offer their clients in 2023. The property must have an AL license. There are accountancy and law firms who can assist you with obtaining the AL license and rental activity at a cost of Euro 450 – 700. In case you do not have a license we can assist you in securing one free of charge, so with Happy Homes Algarve as your property manager you hit the ground running. You have the additional benefit of direct access to our hands on experience build over the past 20 years.

Robert Bijker Director

Happy Homes Algarve

www.portugal-accommodation.com

Rua Dr. José Pires Padinha 178 8800 - 346 Tavira Tel: 281 320 283 & 281 320 284 rentals@portugal-accommodation.com

CLASSE ENERG É TICA

Wearedelightedtobringtoyouanother exclusivelisting,asuper4orcouldbe5 bedroomvillainaquietcountrylocation withalargeplottoexplore,alovelypool areaandsplendidviews. Agoodsizedfamilyhome,outinthe countryandenjoyinganelevatedlocation withexcellentviews.Quietandpeaceful settingwithalargenaturalplotwithina shortdistanceoftown.

TheVillaiswelllocatedwithinthelargeplot, sittingtotherearandlookingdownovera lovelynaturallandscapedottedwithmature dryfruittreessuchasoliveandcarob.

Listed exclusively with Russell & Decoz, we are delighted to be able to offer you this beautiful contemporary 4 bedroom villa with a swimming pool and on a plot of more than 6000m² with stunning views. With 3 floors this villa offers total thermal comfort on all floors, each having floor heating and air conditioning. Its North-South orientation ensures excellent lighting and invites you to live outside, enjoying the views and ample leisure area.

PHOTOGRAPH OF THE MONTH

A picture paints a thousand words and this photo is testament to a tradition from a bygone era. The isolation of the cart and horse with such great photographic technique applied by the depth of field, is reflected onto our modern times.

As usual submitted to the Facebook page: ‘Algarve Amateur Photography group’

Centenary villa completely renovated with the traditional design, with 3 en suite bedrooms, one of them with a mezzanine that could be a bedroom or an office The ground floor comprises an entrance with superb wooden doors, which lead us to a beautiful corridor with a typical Algarve floor and sea view

THIS MONTH'S UNCOVERED JEWEL

THIS MONTH S UNCOVERED JEWEL

THIS MONTH

S

NCOVERED JEWEL

Consists of a house with 3 bedrooms, living room, kitchen, social toilet, laundry room, terrace, patio, garden, a dependent area with 60m2, storage room, a threshing floor, a ruin, parking space and two independent entrances. Also has a partially restored annex that can be transformed into a guest house

THIS MONTH'S NCOVERED JEWEL

THIS MONTH S UNCOVERED JEWEL

Outside there are excellent spaces that can be used for leisure or meals, while enjoying well being in harmony with nature

Consists of a house with 3 bedrooms, living room, kitchen, social toilet, laundry room, terrace, patio, garden, a dependent area with 60m2, storage room, a threshing floor, a ruin, parking space and two independent entrances. Also has a partially restored annex that can be transformed into a guest house.

ts of a house with 3 bedrooms, living kitchen, social toilet, laundry room, e, patio, garden, a dependent area 0m2, storage room, a threshing floor, a parking space and two independent ces Also has a partially restored that can be transformed into a guest

Consists of a house with 3 bedrooms, living room, kitchen, social toilet, laundry room, terrace, patio, garden, a dependent area with 60m2, storage room, a threshing floor, a ruin, parking space and two independent entrances Also has a partially restored annex that can be transformed into a guest house

e there are excellent spaces that can ed for leisure or meals, while enjoying eing in harmony wi

Outside there are excellent spaces that can be used for leisure or meals, while enjoying well being in harmony with nature

Outside there are excellent spaces that can be used for leisure or well being in harmony

ts of a house with 3 bedrooms, living kitchen, social toilet, laundry room, e, patio, garden, a dependent area 0m2, storage room, a threshing floor, a parking space and two independent ces Also has a partially restored that can be transformed into a guest e there are exc be used for leisure or well being in harmony

ISABEL ROMANO

ISABEL ROMANO

ISABEL ROMANO

hello@lemontreehomes pt +351 933 263 788

ISABEL ROMAN

hello@lemontreehomes p +351 933 263 78

hello@lemontreehomes.pt +351 933 263 788

SABEL ROMAN

hello@lemontreehom +351 933 26

hello@lemontreehomes.p +351 933 263 78

ARTISTS OF THE MONTH ELEANOR & CURT

Eleanor Hughes and Curt Bowman moved to Tavira one year ago from Virginia, USA. They enjoy their new life here - a slight change of artistic direction while continuing over forty years working in the arts together.

In the USA, Eleanor and Curt created several award-winning fine art and design businesses, including fabric design and printing, as well as exhibit design for museums. They have worked in Italy, South Africa, Costa Rica, Mexico and throughout the US.

They feel fortunate to be in the Algarve - drawing, painting and sculpting with clay. Their work can be seen at Artesis Galeria in Tavira.

THEN OLHÃO FOUND US...

...

Welcome to our monthly column celebrating Olhão. After exploring Portugal top to bottom from Braga to Tavira enjoying so many coastal and inland locations in our RV, we decided Olhão was the place to buy our home to celebrate our “golden years”.

Olhão was not on our radar at first. In fact, the discovery of Eastern Algarve was a pleasant surprise with the scale of development so much less than areas to the west. A chance winter rental introduced us to Olhão, a place we quickly found attractive for many reasons. “Walkability” is, above all, a main highlight and each month we will introduce you to places only steps away from our front door. Questions, Comments or Suggestions for new columns?

Email us at hankryan2003@yahoo.com. We hope you will enjoy our column!

Low Tide High Tide

We love living near the water. More specifically, we cherish living near THIS water here in the eastern Algarve. While others might long to be further west where the waves of the Atlantic

crash onto the sand, we can’t get enough of the placid Ria Formosa Natural Park here in Olhão. We enjoy viewing the silent transitions every six hours from low tide to high tide. At low tide, small boats rest on the sand near the shore while a small army of clam diggers appears every cycle without fail. High tide means boats of all sizes are back traveling within the Ria Formosa lagoon and it’s system of barrier islands that communicates with the sea through six inlets. While paddling a kayak offers the opportunity to experience enjoying these waters near the shore, venturing further requires choosing a boat of some sort. Wanting to be “eco-friendly”, we realized that is too often an overused marketing term where protecting the ecosystem is secondary to attracting passengers with good intentions.

On a late 2020 visit to Tavira, we stumbled

on a 12 person craft offered by SolarMoves which uses no fossil fuels, running on 100% solar energy. These boats run silently, gliding along the water getting up close to flamingos and other wildlife without disturbing their fragile habitats. No boat fuels enter the water, eliminating a major source of pollution impacting heavily on the marine environments destroying the very things we want to enjoy

and we weren't even looking! Hank and Carina's story of how they came to love and live in Olhão

while on the water. Thus, in a true sense, Solar Moves delivers an “eco-friendly” experience. At the time we had no idea where these remarkable boats were built. Fast forward to February 2021. Our love affair with this amazing place enjoying our part-time home here in Olhão was just beginning. Still curious where those remarkable SolarMoves tour boats came from, I give the Tavira company a call. To my surprise, they said origin was a company called Sun Concepts located right here in Olhão!

Sun Concepts

I Reached out to João Bastos, the General Manager at Sun Concepts (https:// sunconcept.pt/), here in Olhão to get more information. His welcoming response mentioned they had a boat located at the marina here in Olhão. Once I recognized it’s massive rooftop solar panels, I finally identified from the shore their 12 meter blue water capable catamaran. Then he asked if I might like to join him to see it! Wow!

Sun Concepts has been producing 7 meter solar boats since 2015. The 2019 launch of their 12 meter catamarans attracted local and national leaders to help celebrate the

opportunity these boats offer. In addition, Sun Concepts recently introduced a solar powered “work boat” design now operating out of Culatra, hopefully the subject of a future column.

Carina and I decided to experience a ride on the 12 meter catamaran, launching out of Portimão. The Sun Boat (www.sunboat. pt), offers 3 hour journeys to the magnificent coastal caves here in the Algarve. While other fossil fuel powered sightseeing tours consume from 15 to 30 liters of fuel per hour, not to mention what amounts of diesel fuel escapes into the water, the Sun Boat glides cleanly and quietly through the waves dipping into the various caves, all with local nicknames noted by our congenial hosts, both named Helio! There is generally no lack of sunny weather here in the Algarve and our mid-October visit was no exception. While our tour was fully subscribed, there was always plenty of room to relax and occupy various places on the boat enjoying conversations with other passengers while working the phone cameras capturing shots to be viewed and shared later. If you and yours would like to spend time enjoying the Algarve waters either from Tavira in the Ria Formosa Natural Park or further

west along the Algarve coast, consider joining a tour on one of these truly “eco-friendly” boats.

This column is offered to give both thanks and appreciation for the opportunity to witness how one Olhão company is making a real difference towards a solution that can help address climate change.

Fine Print – We choose to focus on businesses here in Olhão where we have actually been customers first. Any future advertising from these businesses that supports Eastern Algarve Magazine is purely coincidental :-) *** If you know where we can find the most special decorative door fronts in Olhão, please write, or better yet, send a photo! Thanks!

Ask the Expat

Not all advice is good and not all people are as genuine as you may think. Enjoy our 'bad advice' column from the expert we have all met, know and love... the Expat.

Here comes the dark winter, so time to reintroduce The New Age ExPat Algarve Paranormal, Supernatural & Psychic Society to see what has been burning in their investigative pile, faster than a Wicker Man full of spooked screamers on Samhain!

We welcome back the two co-chairs of the society, Samuel 'Epiphany' Jones from Todmorden now living in Moncarapacho, and medium Lulu 'Bruxa' Wood born in Alabama, resident of São Estêvão.

Lulu crash-landed on earth and spilled unceremoniously from a UFO. If you meet her, it's hard to doubt it.

May the Circus of Algarvian terrors commence with the ringmasters to the otherworld! Aren't you glad you can't see it?

Expat: What a year! Tell us about the other dimension of the Algarve and the bumps you have taken in the night. You seem to have a nose for it!

Lulu: Absolutely, we have sniffed out some horrors this year, stinkier than that frightening bedpan hidden beneath your bed. Oh yes, I smell it now…

Expat: I know this article is nearing the sewer, but really, there's nothing there..!

Lulu: That's what disbelievers always say! (mocking voice), 'There's nothing there'! How would you know? You are as blind as a brain dead bat!

Sam: Indeed Lulu! Like when we ran our latest seance, the haunted 18th-century mirror of Maria do Carmo Mascarenhas, which was taken from Estoi Palace.

ONLY true believers and observers of correct rituals could pass through the portal of the haunted mirror, not that they'd want to!

Lulu: Her deal with the devil was to always remain young by visiting him through the mirror. It was an infamous legend to those who knew it, meaning, well, us.

Sam: It’s not our fault some non-believer ran at the mirror causing it to shatter and leaving him in Faro hospital for two weeks! He ran so fast at the portal, of course, it rejected him! They were picking shards from him for weeks! He had candle wax burns all down his face from

ricocheting after the collision!

Lulu: Really, rituals are so important when observing occultism! Now the mirror is ruined and none of us will know its true secrets!

And (grimaces), Sam (who winces) took the mirror from our house without it having thirdparty insurance! (He blushes)! There goes 5 thousand! Always correctly insure your haunted objects and read the small print properly!

Expat: But surely you don't have to be a believer to feel the full impact of otherworldly spirits?

Lulu: (Snaps) of course not, but only those ready to open their inner eye, get filled in!

Sam: We helped this poor unfortunate this year, he had experienced such bad luck. He didn't believe in anything we said, but reluctantly he let us interview him.

Lulu: His wife was concerned, he went missing after leaving the bar, only a few hundred metres from their house.

Sam: Try as they might, on several occasions, search parties could not find him. Expat: Where was he?

Lulu: Well, I have a direct line to the Anunnaki connection, my ancient Summarian Alien God spirit guide Ashanti. He was being beamed up, probed, and kidnapped by beings of the planet Nibiru. When he made it home, the next day as if in a trance, he would always be leaking a strange green jelly from his butt.

His wife banned me from the house when I suggested the real cause. Instead, she told friends he had been on an app called Grindr and kicked him out!

How naive can she be? When I met him, he said he was still being probed! He’s going to pay me to have a word with the Nibiruians. I’m not happy with my alien breatheron, I can tell you! They need to leave him alone!

Expat: Er… Okay. And er... any other experiences you've genuinely helped people with?

Sam: Yes, the usual. Haunted dolls, haunted house appliances. We bravely broke the hex on cursed whiskey decanter which left drinkers possessed and running amok… I also emptied a haunted vacuum of dusty old remnants. Expat: Er… And anything you couldn't explain or resolve!?

Sam: Nothing, no nothing prepared us for our

most savage haunt of the year, based near the ruins of an old Olhão brothel.

Lulu: (Tears in her eyes). What a wretched succubus of a sordid soul…

Sam: Lulu felt an affinity with the dark spirits trapped in that area. It turns out the old brothel owner was a scarlet lady, a true fright in the night.

Lulu: My spirit guide told me what an unquenchable thirst she had for wayward seaman, which she would also feed her pussy, her wicked familiar.

She would strangle these stray men with her silken stockings after blindfolding them, promising them a relaxed night of passion.

Her ecstasy was making her famous Rissol de Carne, she wickedly fed her neighbours from her pantry which was stuffed full of dripping meat! She was an insatiable cannibal!

Alas, she grew old and weak, she was suddenly struck down with influenza and died. Her poor pussy cat was famished and it devoured her.

Expat: Oh that's awful, does she still haunt there, with the men she killed?

Sam: Much worse! We were called to investigate the streets of Olhão late at night, where a bedraggled beast, half human and half feline, stalks. It’s now known as the ghostly werecat of Olhão jumping from dumpsters at people at 3 am!

Lulu: It’s not a legend! I was scratched and bitten by a strange beast after we walked the streets, holding catnip in a big baggy! I saw the beast, wild in the eyes it was, a wicked hybrid, without identity or gender! Just a famished soul looking for flesh and it’s still out there!

Beware! You can hear horrible cat calls at night on a full moon! Once scratched, the beast will come back to claim your soul (her eyes bulge and she dramatically clasps her neck)!

She quiveringly points at the scar on her arm. I am praying every day, I need to exorcise that savage pussy!

Expat: I am sure you do. (Sam blushes and can't meet our gaze).

Well, these tales you call inexplicable leave us feeling quite tremulous.

Would you let us know how our readers can contact you with their supernatural tales of woe?

Lulu: Gaze into a shiny piece of obsidian, and scry me calling 'Lulu, Lulu, where are you? And I will come!

FERNANDO PESSOA: THE POET OF MANY MASKS

As Tavira celebrates the work of the poet and writer Fernando Pessoa and especially his heteronym Álvaro de Campos with a two month festival, we introduce the literary genius.

By Richard Zenith

Fernando António Nogueira Pessoa was born in Lisbon in 1888, died there in 1935, and did not often leave the city as an adult, but he spent nine of his childhood years in the British-governed town of Durban, South Africa, where his stepfather was the Portuguese consul. Pessoa, who was five years old when his natural father died of tuberculosis,

developed into a shy and highly imaginative boy, and a brilliant student. Shortly after his seventeenth birthday, he returned to Lisbon to enrol in the university-level course of Arts and Letters but dropped out after two years without having sat for any exams. He preferred to study on his own at the National Library, where he systematically read major works of philosophy, history, sociology and literature (especially Portuguese) in order to complement and extend

Painting by Fonseca Martins, visit Tavira d'Artes, Tavira

the traditional English education he had received in South Africa. His production of poetry and prose in English during this period was intense, and by 1910 he was also writing extensively in Portuguese. He published his first essay in literary criticism in 1912, his first piece of creative prose (a passage from The Book of Disquiet) in 1913, and his first poems as an adult in 1914.

Living sometimes with relatives, sometimes in rented rooms, Pessoa supported himself by doing occasional translations and by drafting letters in English and French for Portuguese firms that did business abroad. Although solitary by nature, with a limited social life and almost no love life, he was an active leader of Portugal’s Modernist movement in the 1910s, and he invented several of his own movements, including a Cubist-inspired ‘Intersectionism’ and a strident, quasi-Futurist ‘Sensationism’. Pessoa stood outside the limelight, however, exerting influence through his writings and in his conversations with more conspicuous literary figures. Respected in Lisbon as an intellectual

and a poet, he regularly published his work in magazines, several of which he helped to found and run, but his literary genius went largely unrecognized until after his death. Pessoa was convinced of his own genius, however, and he lived for the sake of his writing. Although he was in no hurry to publish, he had grandiose plans for Portuguese and English editions of his complete works, and he seems to have held on to most of what he wrote.

In 1920 Pessoa’s mother, after the death of her second husband, returned from South Africa to Lisbon. Pessoa leased an apartment for the reunited family – himself, his mother, his half-sister and two half-brothers – on the Rua Coelho da Rocha, 16, which is today the Casa Fernando Pessoa. This is where Pessoa lived for the last fifteen years of his life – part of the time with his mother, who died in 1925, and sometimes with his half-sister, her husband and their two children, but he also spent long periods by himself. (Pessoa’s half-brothers emigrated to England in 1920.) Family members have reported that

"My soul is a hidden orchestra; I know not what instruments, what fiddlestrings and harps, drums and tamboura I sound and clash inside myself. All I hear is the symphony".

"I'm the empty stage where various actors act out various plays".

Pessoa was affectionate and good-humoured but resolutely private. No one realized how vast and varied a written universe was contained in the large trunk where he deposited his writings over the years. The contents of that trunk – which today constitute the Pessoa Archives at the National Library of Lisbon – include over 25,000 manuscript sheets of poetry, prose, plays, philosophy, criticism, translations, linguistic theory, political writings, horoscopes and assorted other texts, variously typed, hand-written or illegibly scrawled in Portuguese, English and French. Pessoa wrote in notebooks, on loose sheets, on the backs of letters, advertisements and handbills, on stationery from the firms he worked for and from the cafés he frequented, on envelopes, on paper scraps, and in the margins of his own earlier texts. To compound the confusion, he wrote under dozens of names, a practice – or compulsion – that began in his childhood. He called his most important personas ‘heteronyms’, endowing them with their own biographies, physiques, personalities, political views,

religious attitudes, and literary pursuits. Some of Pessoa’s most memorable work in Portuguese was attributed to the three main poetic heteronyms – Alberto Caeiro, Ricardo Reis and Álvaro de Campos –and to the ‘semiheteronym’ called Bernardo Soares, while much of his vast output of English poetry (along with some prose) was credited to heteronyms Alexander Search and Charles Robert Anon. His one French heteronym, Jean Seul, wrote satirical essays. The many other alter egos included translators, short story writers, an English literary critic, an astrologer, a philosopher, a friar, and an unhappy nobleman who committed suicide. There was even a female persona: a hunchbacked consumptive named Maria José, who was helplessly in love with a metalworker who passed by every day below the window where she always sat, gazing and dreaming.

Today, more than seventy-five years after Pessoa’s death, his vast written world has still not been completely charted by researchers, and a significant part of his prose writings are still waiting to be published.

'I am nothing I shall never be nothing I can't want to be nothing Apart from this, I have in me all the dreams in the world"

SHARKS in the ALGARVE

Most of us are drawn to the Algarve for its stunning Beaches and whilst the majority of us venture out a few meters at most, we can´t help but think about what lurks below, perhaps with the famous "Du-nuh dum dum.. Du-nuh" that still haunts us all from the movie "Jaws".

To answer your ponderous thought bluntly - Yes! In fact, there are many species of Shark swimming in the Atlantic, around 40, but don´t be alarmed, most of them are in the North of Portugal and far out in the depths, you´d be very lucky to see one, let alone be nibbled!

Whilst most of these shark species are never seen close to the coast, there are always exceptions, for instance, a Basking shark was one very close to the Meia Praia Beach in Lagos back in 2018 and one spotted by passengers of a tour boat just off the coast of Praia da Ribeira do Cavalo in March 2019.

But whilst they are the biggest shark by far you may see in Portugal´s waters, they are completely harmless to Humans, they don´t even have teeth! However, some of the sharks listed here do!

Shortfin Mako Shark

Often targeted in sport fishing, this shark can reach 150 kilograms and 3 meters in length. It´s quite toothy, but with under 10 attacks on humans ever recorded - its hardly a threat to us. Sadly, they are often taken for their meat so we Human´s really are more of a threat to them than they are to us.

The Great white

Not only do they have teeth, but they are the most feared shark in the world due to their depiction in films and deadly "test" bite.

The Great White shark actually do live in our waters, in fact they live in nearly all seas and oceans.

However, they prefer the northern Atlantic so we are safe from them here in the south.

Dogfish

The Dogfish is, compared to it´s cousins, quite a small fish. Probably the most commonly sighted shark in Europe due to its preference of shallow waters.

You can recognize them by their white spots and pointed snout. They generally feed on small marine animals such as Squid, Fish, Jellyfish and Crab. Again, we often catch them in nets and overfishing has lead to a decrease in population in European waters.

Hammerhead sharks

These sharks, famous for their oddly shaped heads, can be found worldwide.

There are many types of Hammerhead sharks, the most common in the Algarve being the smooth hammerhead shark.

Every year they are spotted in the Algarve, wandering around looking for food in the warmer waters of summer.

They are much more scared of us than we are of them, often called the shy shark.

Their mouths are much smaller than their heads so whilst in theory they could bite you, they really are not much of a threat.

Blue Sharks

These common sharks are quite often spotted by divers of scuba trips.

"Blue" due to their faint colouring, this shark grows to be about 2.5 meters long, and feed on smaller fish, Octopus and Crustaceans, though every once in a while a curious individual may nibble a diver or fisherman.

Sadly they are often caught in fishing nets, so again, we are a much bigger threat to them then they are to us.

The Basking Shark

As we mentioned before, Basking sharks do lurk in our waters and sometimes they venture close!

Growing up to 10 meters long and weighing over 4.5 tons, these giants are truly impressive.

Whilst they may give you a fright, they really don´t pose a threat, they prey on tiny fish and zooplankton, they would not know what to do with you!

Expert currency advice

By Rachel Canales from GC Partners

IN TWO MINDS ABOUT MONEY TRANSFERS?

With so many companies providing overseas money transfers, it can be difficult to know who you should trust to get your money where it needs to be, at the right time and for the right price. Most providers fall into one of two categories: online only or personal currency specialist. Although an online only option may work for many, if you are new to overseas transfers or feel more comfortable with being able to talk to someone, then a personal currency specialist might be a better option. Here we explore some of the benefits of using a specialist such as GC Partners over an online only provider.

SERVICE

Many online only apps and digital platforms look quick and easy to use, however, if you need to talk to someone there is often nothing more beyond what you see on screen. Online chat functions and automated phone lines do not always provide what you need and if anything goes wrong, you might be left waiting days to find out where your money is. At GC Partners we believe it is best to speak to you about your currency requirements. Although you can transfer up to 10,000 GBP (or equivalent currency) through our online platform, we believe many people prefer the reassurance of a friendly voice at the end of the phone. Both our online chat and phone lines are managed by real people, and you do not need to select hundreds of buttons or

options to get through to them.

EXPERTISE

With an online only option, the onus is most definitely on you. You are the one making the decisions about what is a good rate, when to transfer as well as keeping track of your transfer at every stage.

While nobody has a crystal ball when it comes to exchange rates, a specialist like GC Partners has experience and market insight that can help you make a more informed decision about when it is the right time to make your transfer. We will keep you up to date on the progress of your transfer with regular emails, so you know exactly where your money is.

FLEXIBILITY

Online only providers give you one type of transfer option – buy now and pay now. You cannot set up automatically recurring/regular payments or plan ahead using other currency options.

We work with you to understand what the best transfer options are for you, including flexible choices such as a forward contract which allows you to buy your currency at a fixed rate now and pay later. If you are budgeting for a specific exchange rate, you can set a limit order which automatically purchases the currency for you once your preferred rate is met.

Our recurring payment option lets you set up a standing order for a specific date and then sit back and relax knowing you will never miss a payment again.

VALUE

Many online only options only guarantee your rate for between 24-48 hours (depending on the currency) after you confirm your transfer. After this time, if anything changes for any reason, your original rate may have expired. We purchase your money as soon as you confirm your transfer, so your exchange rate is guaranteed and not affected by any rate movements after that time. You have two days to make the payment and if for any reason it is delayed, you will not be subject to any penalties if you can prove it is on its way.

If GC Partners sounds like the personal currency specialist for you, contact us today on +351 282 768 137 and +44 (0) 203 974 4738 or email your currency specialist Rachel.Canales@GCPartners.co, visit us online at www.gcpartners.co/register or in person at one of our offices.

Para mais informações | For more information: reservas@benamorgolf.com | www.benamorgolf.com

Para mais informações | For more information: reservas@benamorgolf.com | www.benamorgolf.com

2022

Seja responsável. Beba com moderação | Be responsible. Drink in moderation | www.bebacomcabeca.pt

Para mais informações | For more information: reservas@benamorgolf.com | www.benamorgolf.com

Seja responsável. Beba com moderação | Be responsible. Drink in moderation | www.bebacomcabeca.pt

Seja responsável. Beba com moderação | Be responsible. Drink in moderation | www.bebacomcabeca.pt

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Expert financial advice

Keep

CRYPTO ASSETS IN PORTUGAL AND WHAT'S NEW IN 2023 (PART 1)

In the 2023 State Budget proposal the Portuguese Government introduced the taxation of cryptoassets (this exceeds the concept of cryptocurrencies), and short-term capital gains (up to one year) with cryptocurrency transactions to be taxed at 28%, but not all gains are liable to tax. Here are the proposed changes for 2023 and how these may affect you (part one, part two to follow next month).

Up until the end of 2023, what was the tax regime applicable to Crypto?

There was no tax regime and no specific law for crypto currencies until now, which made Portugal one of the most crypto-friendly countries.

Will I have to declare to the Portuguese tax authorities, that I own cryptocurrencies?

No, there is no wealth tax in Portugal, therefore you will only need to report income received from cryptocurrencies or gains made for the sale of these assets. The State Budget proposal now considers mining operations, as a business activity and the gains obtained with the sale of crypto are taxable at 28%, providing the crypto was bought less than a year ago.

I made a profit from selling cryptocurrencies I bought less than a year ago. Do I have to declare?

If the State Budget proposal for 2023 is approved, you will have to report the sale operation when submitting your Personal Income tax and the gain obtained (difference between the market value at the date of sale and the acquisition value, net of necessary expenses and effectively carried out, inherent to the acquisition and disposal) will be liable to tax.

How and when do I have to declare?

The tax year in Portugal is from January 1st to December 31st and the tax submission is normally available between April 1st and June 30th. When submitting the tax return – mandatory done online - you will have to include the crypto asset sales operations you had in the previous tax year.

How much tax will I pay for the gains I made from selling cryptocurrencies?

If you held the cryptocurrencies for a period of less than 365 days, and if you made a

capital gain, you will be subject to tax rate of 28%. If you aggregate this income to your other sources of income, you will be taxed at the progressive tax rates and the tax rate will be the one corresponding to your income bracket.

Can I be punished if I don't submit the tax return or do not include this information on my tax return?

Yes, failure to report income and or earnings, or failure to submit the tax return constitutes an administrative offense, subject to penalties. The amount of the fine depend on the specific situation. If there is a voluntary regularization, the waiver or reduction of fines may apply, depending, among other factors, on the date on which the fault committed is regularized, as well as whether or not a report was raised, a report or complaint was received or initiated tax inspection procedure.

Compensatory interest (at an annual rate of 4%) will also be payable on the missing tax. How does the tax authorities know about my crypto assets?

In the proposed state budget, there is now a reporting obligation by intermediaries. Thus anyone who provides custody and administration services of crypto-assets on behalf of third parties or manage one or more crypto-asset trading platforms, must notify the Portuguese Tax Authorities, up to the end of January of each year, for each taxable person, through an official model, the operations carried out with their intervention, in relation to crypto assets.

What can I offset against my gains on the sale of crypto?

In the case of the sale of crypto assets, the gain liable to tax is made “by the difference between the sale value and the acquisition value”, net of the necessary and effectively incurred expenses, related to the acquisition and disposal. For this purpose, the sale value corresponds to the market value of the crypto asset at the date of sale.

What happens to cryptocurrencies I bought more than a year ago?

Capital gains related to cryptocurrencies held for a period equal to or greater than 365 days will be exempt from tax.

I have two units of the same cryptocurrency purchased at different times: one more

than a year ago and the other less than a year ago. I made a profit on selling one of them, but I don't know which one. Do I have to declare profit?

The PIT Code provides for the application of the FIFO method (First In, First Out) in the calculation of capital gains obtained from the sale of securities, according to which the securities sold are those acquired the longest.

This rule has not undergone any change in the proposed State Budget for 2023, in order to ensure its application to the calculation of gains obtained from the sale of crypto-assets that do not constitute securities.

The value of my cryptocurrency portfolio increased last year, but I haven't made any transactions. Do I have to declare?

If you did not carry out any transaction in the previous year, it means that you did not have any capital gains from the sale of cryptocurrencies, so you will have nothing to declare to the Tax Authorities, since the PIT only taxes realized gains.

I do mining of cryptocurrencies. Do I have to declare it? Is this a gain or a business activity income?

Cryptocurrency mining is now considered a commercial/industrial activity covered by the IRS under category B (self employment). The income obtained from the exercise of this activity will be liable to the IRS, and the taxable income will be taxed at the progressive tax rates.

The rule contained in the State Budget proposal for 2023 is not clear concerning the coefficient to be applied under the simplified regime, but it seems to imply that the taxable gain will correspond to 15% of the income obtained from the activity.

I received cryptocurrencies from a friend. Do I have to declare too?

In the case of a free transmission (for example, a donation of cryptocurrencies) there is a 10% Stamp Duty fee. This is not an income, so it won’t be reported in the tax return, only when it is sold.

Look out for more of the proposed changes in the next issue, in the mean time please feel free to send any tax questions you may have to info@allfinance.pt

Expert financial advice

by John Alden, Managing Partner at Private Client Consultancy

ARTIFICIAL INTELLIGENCE IN FINANCIAL SERVICES

Have you ever thought about asking a chatbot a question about opening a savings account or the status of your account? Then you will have noticed that the world of AI is booming. No sector or industry can remain untouched by this game-changing, advanced technology - and the world of Finance is no different.

According to Forbes, 54% of financial service organizations with 5,000+ employees are now using artificial intelligence.

Embracing Artificial Intelligence in Financial Services.

The finance world has fully embraced the potential benefits of AI, which is now more prevalent than ever. The post recovery from the pandemic has seen us all further embrace the digital experience. Forward-thinking executive managers and business owners now actively explore new avenues of Artificial intelligence in Financial Services to gain a competitive edge on the market.

AI has helped Finance companies streamline their systems and procedures by automating tasks which provides flexibility for employees to adopt more varied

responsibilities. This therefore reduces the need for further recruitment. With the ability to scale, this advanced technology can also be used for short or long-term projects.

High-Tech Customer Services Finance companies are now required to respond to customers 24/7 and have developed into technology-advanced institutions with creative, innovated systems. AI has been said to create a more positive ‘customer service experience’ with the use of smartphone data, virtual assistants and 24/7 chatbots. These ultimately, improve the bottom line and ensure acurate information for future planning strategies. Banks are also transforming into customer focused, digitally driven business models which mirror those of big tech companies with high-end customer service policies and cyber security systems in place.

Younger consumers often prefer digital banking. In fact, 78% of millennials say they won’t go to a bank if there’s an alternative.

Here are our top 5 examples of how AI is changing the world of Finance:

1FRAUD

Financial fraud mainly refers to crimes rooted in deception, such as forgery, scams, and insider threats. AI can detect fraud attacks in less than a second using advanced AI-based rating technologies. AI is effective at preventing credit card fraud, a crime that has been growing exponentially in recent years due to the increase of e-commerce and online transactions.

2 FINANCIAL ADVISORY

AI in Finance transforms the way people interact with money and helps the financial industry streamline and optimise processes ranging from credit decisions to quantitative trading and financial risk management.

With an increase in the need for financial independence by consumers, AI algorithms can provide information on the latest financial trends. AI also assists with portfolio reviews and companies can receive the information they need as quickly as possible. The decision for financial services to adopt AI will be accelerated by technological advancement, increased user acceptance, and shifting regulatory frameworks.

3 TRADING

AI trading refers to the buying and selling of assets without the need for human involvement. This covers a broad range of automated trading techniques, through whereby the AI software makes preprogrammed trades. AI trading is not new and has been around for some time. AI has been relied upon by successful traders across the globe new advancements in technology increase the levels of speed, success, and development of stock portfolios.

4

PERSONALISED BANKING

Waiting to speak to a customer service representative is now a thing of the past as Chatbots and virtual assistants have reduced (and even eliminated) the need to spend time on the phone.

Now, customers can check their balance, schedule payments, look up information on their account activity, ask questions via a virtual assistant and receive convenient personalized banking advice. “virtual assistants can respond to customer needs with minimal employee input,” according to AI News.

5 PREVENTING CYBER ATTACKS

It has become increasingly difficult to fight cyber threats without the intervention of advanced AI. In today’s world consumers need to be reassured that banks and financial institutions will keep their information and money as secure, as possible. AI increases company security by analysing normal data entry patterns, staff communication channels and alerting companies of unusual internal or external activity or discrepancies.

So, What is the Future of AI in Finance? As AI becomes more incorporated into our daily lives and the world, there really is no surprise that the world of Finance is at the forefront of adopting new technology and methodology as consumers become hungrier and more savvy to the possibility of financial freedom and security for themselves, their families, and their businesses.

We are committed to helping you make the best decisions for your circumstances.

Contact Managing Partner John Alden by email at john.alden@pccwealth.com

Sara de Melo Castanheira is an expert in Occupational Therapy and Quality of Life. She is also the Technical Director of SER Igual, an Association of special rehabilitation services in Tavira

HAPPY FEET

Did you ever think about your feet, and the importance they have in your emotions and general well-being?

Remember those carefree, barefoot days of summer here in the Algarve? The soft grass beneath your feet?

The warm sand between your toes? The mild seawater on the feet by the sea? When was the last time you went barefoot outside? When was the last time your children did?

Allow yourself to close your eyes, take a deep breath and feel your feet… what do you feel? And what comes to your mind? What ideas and memories come to your mind? Move your tiptoes and feel your body waking up, wanting to stretch…

When a toddler is learning to walk, parents are told to let this process happen naturally, and without shoes. That’s because shoes can affect how a child uses the muscles and bones in their feet, but it´s not just about bones and muscles!

Walking barefoot helps develop the child´s brain. Kids receive feedback from the ground when they walk barefoot, and it improves their proprioception sense (awareness of their body in space). Stimulating proprioception helps to gain body awareness, space and distance. These concepts will be used cognitively during their learning in, for example, mathematical concepts. Walking barefoot strengthens the muscles in children’s feet and ankles, improving balance and posture. It engages the foot’s arches, strengthening them, and improves the alignment of muscles throughout the legs. This, in turn, helps prevent stability problems in joints such as the hips, knees and ankles, reducing the risks of injury later in life. When children walk barefoot, they increase their sensory alertness. The child´s arousal level remains alert but calm and intensifies the desire to explore the surrounding environment. How does the ground feel? Their senses are heightened – they’re paying attention. From that attention comes an appreciation of the natural world they are walking through. Walking barefoot, for example in nature, helps to stimulate the seven senses of a child's body. When all seven senses are fully engaged, they completely connect with nature and what better time than childhood to develop a love of being in the natural world? Going

barefoot is one of the most beneficial types of sensory stimulation a child can experience as it stimulates their entire nervous system! And it is also true that children who often go barefoot are less prone to colds and flu. Great to know when autumn just started, right?

And if walking barefoot is excellent for a child, walking barefoot as an adult can help you connect with your inner child and helps you achieve a state of greater well-being. The benefits of walking barefoot are vast, holistic and normally include: a) better control of your foot position when it strikes the ground; b) improvements in balance, proprioception, and body awareness, which can help with pain relief; c) better foot mechanics, which can lead to improved mechanics of the hips, knees, and core; d) maintaining appropriate range of motion in your foot and ankle joints as well as adequate strength and stability within your muscles and ligaments; e) stronger leg muscles, which support the lower back region; f) stimulate pressure points and the nervous system; g) helps prevent varicose veins. The movement of the feet when walking barefoot increases the flow of blood to the veins, in turn, this helps the leg muscles better circulate blood flow back to the heart; j) foster a connection with nature.

What about shoes? Should children use or not wear shoes? Barefoot in nature or just at home? And what type of shoes, should they wear?

When children wear shoes in nature, they are missing out on the most basic sensory experience of them all – the feeling of dirt, rocks, leaves and twigs beneath their feet. Our feet are hard-wired with multiple pressure points and nerve endings to convey messages to other parts of our bodies. Wearing shoes dulls the effectiveness of these nerve endings, while going barefoot stimulates them and, in turn, our entire nervous system. It’s perhaps the easiest and most cost-effective form of sensory play!

Young children wearing shoes with thick soles that are not flexible, tend to bounce and fall over when they are running or playing. They look clumsier, and often require more movement to maintain joint stability which may resemble false hyperactivity.

Wearing shoes affects everything from our gait and posture and foot development, to the strength of our foot's arch. Flat feet, for

example, are far more common in children who usually wear shoes, than those who don’t wear them at home and in nature. We also know the critical period for the development of the arch is before age six. This means that walking barefoot is especially important during early childhood. Shoes can prevent children from using certain muscle groups that can actually strengthen their body. Wearing shoes all the time can cause children to either walk on their toes or on the heels of their feet.

And what about fungi? Did you know that wearing shoes all the time creates a perfect, dark, damp and heated environment for the growth of bacteria and fungi? Wearing shoes all the time or the wrong type of shoes can also foster the growth of bunions, in-grow toenails and athlete’s foot.

Our pediatric physiotherapist is witnessing the damage that the continuous wearing of shoes, or the wrong type of shoes, can do to the development of children in general, as more children are coming to Associação SER Igual with flat feet, joins instability and other morbidities, that can be prevented or minimized if children could walk barefoot more often and in different types of environments.

So, when your children have to wear shoes, make sure that 'fashion' alone does not determine the choice of shoes, but that they fit well, are flexible and not restrictive of natural development and the functioning of the growth of young feet.

And for you dear reader, I recommend you allow yourself to walk barefoot and feel like a child again!

How can you know more about us and help SER Igual Association grow?

Associação SER Igual is a non-profit association for handicap people and with Public Utility that is helping children, teenagers and their caregivers to get better life quality and helping change the paradigm of inclusion in east Algarve. By sharing this article, you help spreading the name of SER Igual, so more people can contact us. You can sponsor one of our social projects or sponsor a child from our Association and help him/her to carry out their therapies. If you need services of Physiotherapy (children and adults) please visit us on our FB page (@SerIgualPT) and IG (@ igual.ser) and make an appointment to geral@ seronline.pt or by phone 918180020.

In an interview I watched recently on YouTube with Dr Rangan Chatterjee and Dr Robert Lustig, they discussed ´The Bitter Truth about Sugar and How it Causes Inflammation´

Last month we lightly explored the Paleo and Keto diets. In this article we look at the 5:2, Mediterranean diets, and juicing. Why am I linking the diet conversation with the sugar debate?

Be assured there is no specific diet that suits everyone. We could observe two friends both following identical eating patterns and yet there could be huge differences in the outcome. This is because of our metabolism which is different for every living person. In other words, how our body deals with what we put in it.

In the 1970s food processing was introduced on a huge scale Refined sugar is a key ingredient in all processed food production. Many doctors agree that 99% of diseases are caused by inflammation.

Guess what? Sugar and stress are the most common causes of inflammation which leads to poor health – guaranteed!

Next month we will explore how stress affects our health.

PROTECT THE LIVER AND FEED THE GUT

Processed foods don´t typically contain fibre. When fibre is missing, the liver is directly exposed to chemicals and toxins causing non-alcoholic fatty liver disease. Fizzy pop drinks loaded with sugar are also a sure-fire way to give yourself gout and non-fatty liver disease.

High levels of nutrition will help to protect your liver, although there is no guarantee that your body is absorbing the minerals and vitamins without checking via laboratory testing which I offer to my clients.

Now back to the diet conversation…

5:2 DIET

Commonly known as intermittent fasting, the aim of this diet is to control your calorie

PURE, WHITE AND DEADLY

HOW SUGAR

ILLNESS AND DISEASE AND WHICH DIET WORKS BEST

intake for certain parts of the day or days in the week. The idea is to reduce overall calorie intake and therefore lose weight.

There are variations of this diet, but the standard version is having a normal diet on 5 days of the week and reducing your calorie intake to about ¼ of normal for two days each week. With no food restrictions on this diet, people tend to find it easy to follow. The main challenge is not to overindulge on non-diet days, although you still need to eat healthily.

PRO’S

Easy to follow as few rules and restrictions. Many studies have shown benefits of fasting including weight loss, reducing insulin levels. And it may help reduce insulin resistance, asthma, seasonal allergies, heart arrhythmias, menopausal hot flashes and more.

One study showed that the 5:2 diet caused weight loss similar to regular calorie restriction. Additionally, the diet was very effective at reducing insulin levels and improving insulin sensitivity.

CON’S

The 5:2 diet may be a helpful alternative to some people looking for a less restrictive diet plan, but it is not for everyone.

People who are prone to low blood sugar or easily feel dizzy or fatigued if they do not eat may not want to follow a diet that involves fasting.

You also need to be strict with yourself not to overindulge on non-diet days.

MEDITERRANEAN DIET

This diet emphasises foods that were commonly eaten around the Mediterranean region during the 20th century and earlier.

It includes plenty of vegetables, fruits, fish, poultry, whole grains, legumes, dairy products, and extra virgin olive oil.

Although there are no strict rules or regulations for the diet, it typically encourages fruits, vegetables, whole grains, legumes, nuts, seeds, and heart-healthy fats. Processed foods, added sugar, and refined grains should ideally be restricted though to optimise overall health and wellbeing.

PRO’S

The Mediterranean diet has been studied extensively for its ability to promote heart health.

In fact, research shows that the Mediterranean diet may even be linked to a lower risk of heart disease and stroke.

The Mediterranean diet encourages a variety of nutrient-dense foods, including fruits, vegetables, nuts, seeds, whole grains, and heart-healthy fats. As such, following this eating pattern may help stabilise blood sugar levels and protect against type 2 diabetes as shown by research.

Several studies show that the Mediterranean diet could also be beneficial for brain health and may even protect against cognitive decline. One study of 512 people found that greater adherence to the Mediterranean diet was associated with improved memory and reductions in several risk factors for Alzheimer’s disease .

CON’S

Since nothing is off limits, it can be difficult to not have a specific plan or calorie guidelines, so could be tricky to adhere to.

Also, since the focus is on healthy fats and whole grains, overeating is quite possible.

In addition, this diet promotes eating the whole food, like full-fat dairy products, which, when eaten in large quantities, may be very calorically dense, acidic and cause breathing difficulties for some people – especially those prone to asthma.

One of the Mediterranean diet's disadvantages is that there's no one set rulebook for the eating style. As a result, there's no exact number when it comes to servings per day of the foods included, which may be confusing for some people.

JUICING

A juicing diet is a short-term diet consisting entirely of fruit and vegetable juices and popular as a detox method.

When you blend your juices using fresh fruits and vegetables only, you benefit from the wide range of vitamins, minerals, and antioxidants

CAUSES OF 99% OF

Expert advice from Elaine Godley founder of the Perfect health HUB a self-help repository with hundreds of health resources, videos, podcasts and weekly group support

contained within the most popular juicing ingredients.

PRO’S

Increased motivation, you see results rapidly, which encourages you to continue You may also improve your gut health and even feel an increase in your sense of well-being. One small study found that a three-day juice diet altered intestinal microbiota associated with weight loss and also promoted a greater sense of well-being even two weeks after the cleanse.

By eliminating the bad stuff and putting lots of good stuff into your body. Not only do you lose a few pounds, but it gives you more energy, improves your mood and generally makes you feel better.

It should come as no surprise that fruits and vegetables are rich in vitamins and minerals. Drinking juices can make getting a variety of nutrients into your body simple. The high vitamin content of fruits and vegetables can also support the immune system.

CON’S

The disadvantage of this type of diet is that you can only do it for short periods of time. As a result, your body doesn’t have the chance to adjust so you may experience fainting, headaches and fatigue. However, most of this

can be overcome by increasing fluid intake and consuming the correct juices.

MY JUICING STORY

When I received the shocking news that I had stage IV cancer in July 2015, I juiced like a ninja. On average I was drinking four large juices daily alongside many other strategies to recover in record time of 3 months. Juicing is the fastest way to flood your body with nutrients, although be careful if you go head on without preparing your body for the shock, otherwise you could receive horrendous detox effects if you do this too quickly. I was already in reasonable shape after curing myself of a rare kidney disease I was born with some years earlier. I don´t make fresh juices these days but do continue to consume high quality fresh, organic live wheatgrass shots every day. The cost is comparable and certainly much quicker than sourcing organic ingredients and preparing fresh juices which can take a long while and create a messy kitchen!

Over time, high blood sugar levels can have serious health consequences

including nerve damage, skin infections, vision problems and diabetes. Balancing the bodies sugar levels is key to maintaining good health and wellness.

Incorporating wheatgrass juice into your diet can be a big boost to balancing sugar levels. Wheatgrass juice is packed with minerals and vitamins such as Vitamin K, vitamin C, Vitamin B6, Vitamin E and vitamin A, iron, calcium, magnesium and selenium. You´ve no need to take a multi-vitamin supplement if you consume live organic wheatgrass (which is completely different to powder or homegrown) which makes it a great addition to any diet but for those managing sugar levels it is proving to be particularly effective.

A 2016 study, for example, found that wheatgrass raised insulin levels and helped lower blood glucose in rats and another study showed that the inclusion of wheatgrass in various food recipes resulted in a significant decrease in the glycaemic index of humans.

More recently a study of 60 people has been conducted in India and found that wheatgrass products exhibit hypoglycaemic potential amongst diabetics. The effect of wheatgrass juice was comparatively higher in terms of changes in anthropometric measurement and biochemical profile.

Experts believe that inflammation plays a role in diabetes. By fighting inflammation, wheatgrass juice may also support people managing both diabetes and some of its complications.

The key ingredients for juicing if you choose this route, are green leafy vegetables. Fruit juicing should be avoided because of the high sugar content. The centre core of the pineapple, raw ginger and whole apple can be used to sweeten but only in moderation. For me, I simply snip the frozen wheatgrass sachet open and add to my daily smoothie. Let me know if you´d like to receive some free wheatgrass and get your health on track.

Elaine Godley MBA, O.A. Dip (Psych) was recently awarded Best Health and Wellbeing Mentor 2022 – UK. Elaine lives in the Algarve and supports international clients online https://discplus.health/ Links to the studies quoted in this article can be accessed via the online version of the magazine at https:// eastalgarvemag.com/

Alegria Beauty Salon has been around for more than 20 years and was originally a nail salon. Owner Mara was at the beauty fair in the Netherlands in Utrecht and from there she decided to learn more and more skills and treatments, to get her where she is today. Mara works every day with her passion and her hobby. She says "I am very happy that I am able to make this my profession. Beauty is great and never stands still, I'm glad I found a Beauty Academy here where I can develop my interest in learning and taking exams". For this month, here's a useful beauty tip .

Use-by beauty

Have you ever wondered what the little open jar symbol means on your skincare packaging? It’s the PAO (Period After Opening), and refers to how many months the product is OK to use after opening. For example, “12M” means you should not use it 12 months after breaking the seal. Why? If a product’s preservatives are no longer functioning it can become contaminated, leading to skin irritation or even a bacterial infection. Then there are all those active ingredients which will may have deteriorated, making application a little pointless.

For more info please Whatsapp or call. Alegria Beauty Salon Mara

Time stops for nobody. Mara at the Alegria Beauty Salon has gone from strength to strength over the last 20 years

SQUASH, PUMPKIN OR GOURD…

Get ready to be a little confused!

Squash, Pumpkins and Gourds are all members of the Cucurbitaceae family, and melons too… However, not all gourds are squash, but many squashes are gourds and a pumpkin is both a squash and a gourd. And all of them are a fruit, and not a vegetable like many believe.

See, I didn’t lie about it being confusing and complicated! There are several distinctions between them all though that should make it a little clearer…

The stem is more likely to snap and break on a squash, plus it is usually too short to work with. On the other hand, the stem of the pumpkin is hard and firm, making it easier to grip.

The main difference between pumpkin and squash is that the pumpkin stem is hard and jagged, while the squash stem is light and hollow and more likely to snap and break. The stem of the pumpkin is hard and firm, making it easier to grip.

Gourds are mainly grown for decoration and traditionally used as storage vessels for water

and food. Gourds take between 100 to 180 days to reach maturity and are now often used as bird houses and transformed into bird feeders. The flesh of a gourd is too thin and not very tasty to be able to make a meal out of. A pumpkin, while also decorative, has a thicker flesh, which is quite sweet, and often is used in sweeter recipes like pumpkin pie, roasted pumpkin and soups. Squash on the other hand is a little more savoury in flavour perfect for roasting, souping, dicing, pureeing and all-around eating.

Squash is typically divided into two seasons,

summer and winter. The wide variety of yellow and green courgettes belong to the summer squash category, while butternut, acorn and spaghetti squash belong to the winter variety. Summer squash will mature in around only 45 to 60 days, and winter squash in 80 to 100 days.

The best part about squashes and pumpkins is that all parts, including the vine and leaves are edible and packed with nutrition. The flowers can be used as a tasty garnish, or fried, the flesh and skins can be eaten and the seeds make a brilliant snack when toasted with a

East Algarve Magazine

INTERNATIONAL MEET-UPS

Our regular meet-ups are proving to be a great success, here's a list of up-coming events

Our first four events in Tavira, Olhão, Cabanas and VRSA have all been a resounding success. It's been wonderful to see and listen to people making new friends and arranging to meet outside of the group. It is also a great opportunity to share your experiences, and gain from others. There has been a lot of information about various businesses discussed, from favourite Indian restaurants, a particularly good real estate agent to a great Portuguese teacher.

Each month we will meet at a designated venue in or around Tavira. There will be a second meet up towards the end of the month somewhere else in the East Algarve; Cabanas, Olhão, Fuseta, Monte Gordo or Vila Real.

'East Algarve Magazine International Meet-Ups' facebook group has been set up and is where the latest updates will be posted. The group already has nearly 450 members.

The Meet-Ups are free of charge and anyone is welcome to join the events. The next one is on November 10th at the Maria Nova hotel rooftop bar in Tavira, then on the 24th of November at Ti Maria Panorâmico, Fuseta, on the 15th December we return to Maria Nova and on the 22nd December we are at bar Nora Velha in Tavira.

All events start at 6pm. If you have any questions or suggestions just join the facebook group, or email info@eastalgarvemag.com

Email: reservas@benamorgolf.com or Telephone +351 281 320 880.

2 hour slots available from 08:00 through to 18:00 (finishes at 20:00)

Bookings can be made up to one week in advance.

V i s t a s R u i S i l v e s t r e r e s t a u r a n t a t M o n t e R e i G o l f & C o u n t r y C l u b , h e a d e d b y C h e f R u i S i l v e s t r e , o f f e r s a c o m p l e t e g o u r m e t e x p e r i e n c e f r e s h , l o c a l l y s o u r c e d i n g r e d i e n t s u s e d t o c r e a t e t h e f i n e s t g a s t r o n o m i c d e l i g h t s , a w e l c o m i n g a m b i e n c e , u n c o m p r o m i s i n g l e v e l s o f s e r v i c e a n d s t u n n i n g v i e w s o v e r r o l l i n g h i l l s , t o t h e A t l a n t i c O c e a n

R u i ’ s s t y l e o f c o o k i n g r e p r e s e n t s a r e t u r n t o c u l i n a r y e s s e n t i a l s A r e s p e c t f o r n a t u r e , p u r e t a s t e s , g e n u i n e a r o m a s a n d s u p e r b f l a v o u r s .

R e c o g n i s e d w i t h a M i c h e l i n s t a r i n t h e M i c h e l i n G u i d e s i n c e 2 0 2 0 , V i s t a s R u i S i l v e s t r e b e c a m e t h e f i r s t s t a r r e d r e s t a u r a n t i n t h e E a s t A l g a r v e r e g i o n , e s t a b l i s h i n g t h e l o c a l a r e a a s a d e s t i n a t i o n f o r g a s t r o n o m y l o v e r s

From