The global specialists in financial advice and wealth management for expatriates, Chase Buchanan Private Wealth Management, have announced their latest expansion, extending their Portuguese team to meet the continually higher demand for independent financial advisory support.
Welcoming new Private Wealth Managers and a Business Development Manager marks the most recent growth within the Chase Buchanan European teams, with the Portuguese office increasing in capacity by 27% in the last 12 months.
Factors Behind Chase Buchanan’s Ongoing Expansion of Financial Advisory Services in Portugal
Like many of the EU-based Chase Buchanan teams, the Portuguese office has seen significant upticks in enquiries, with expats recognising the importance of professional support and personalised tax advice to help them manage their long-term financial affairs.
For many expats, sweeping UK reforms have impacted almost all areas of their wealth planning, with changes that have included:
- Reforms to the ‘non-dom’ tax regime
- The inclusion of pensions in inheritance tax
- Removal of tax exemptions against pension transfers
Other Portuguese reforms to the Non-Habitual Residency (NHR) system, which has been replaced by a new NHR 2.0, have also had considerable impacts on expatriates' finances.
As a result, a larger proportion of foreign national residents are keenly aware of the need to manage their tax exposure, succession planning, and investments with assistance from an accredited team.
Lee Eldridge, Group CEO and Head of Investment Advisory at Chase Buchanan, says, 'In recent years, the value of bespoke investment reviews and pension planning has become far better known, but we've also seen fairly major reforms that have meant our clients need to move quickly to either mitigate risks or seize opportunities when new tax efficiencies arise.
We are delighted to expand our Portuguese team in Quarteira to keep pace with sustained increases in requests for professional financial advice and to further grow our team of talented wealth managers. I’d like to welcome both long-standing and prospective new clients to get in touch at any time should they wish to be introduced.’
Why Increasing Proportions of Foreign National Portuguese Residents Require Independent Wealth Management
Many of the estimated 155,000 expatriates living in Portugal are British nationals, as the second-highest non-Portuguese nationality, with permanent residency. Most have relocated either through the now-reformed 'golden visa' or have benefitted from tax exemptions and low rates through the NHR.
Eldridge explains that ‘The NHR regime has proven highly successful, with tens of thousands of expats enjoying tax reductions. However, the relatively recent reforms mean that the criteria have become significantly more rigid, alongside the removal of the option to qualify for the Portuguese golden visa through real estate ownership.
It is also important to note that the tax advantages of the NHR, whether under the old system or the new NHR 2.0, remain valid for up to ten years. This has meant that many expats are now suddenly realising that their tax obligations will jump once they reach a decade of residency, whereas those planning a relocation may need to revisit their plans and intended visa routes.
These factors have been among the reasons we’ve focused on strengthening our Portuguese team, ensuring we have the scope to manage the financial affairs of those already living in Portugal, facing changing tax liabilities, or needing specialist help planning their move.’
About Chase Buchanan Private Wealth Management Portugal
Chase Buchanan's Portuguese team operates from its base in Quarteira, providing comprehensive financial advisory services including retirement, investment and financial planning, and expatriate-specific areas of wealth management such as UK pension transfers and succession planning.
The company, which has a global presence, is the only such expat-focused wealth management firm to hold International Professional Partner Firm (IPPF) status with the Chartered Insurance Institute (CII). This partnership represents Chase Buchanan's commitment to ethical standards, independence and best practices within the financial services space.
Clients can contact the Portuguese team directly to schedule a convenient time to meet with an adviser either in person or virtually, with the option to book an introductory call through the digital appointment calendar available online.
Alternatively, those intending to relocate and seeking independent financial advice can contact the company's UK Administration Centre or email the Portugal team to request a callback.
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About Chase Buchanan Private Wealth Management
Chase Buchanan is a highly regulated wealth management company that specialises in providing global finance solutions for those with a global lifestyle. We are global financial advisers, supporting expatriates around the world from our regulated European headquarters, and local offices across Belgium, Canada, Canary Islands, Cyprus, France, Malta, Portugal, Spain, the UK and the USA.
Chase Buchanan Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission with CIF Licence 287/15 and offers its services in the EU on a cross-border basis as per the provisions of MiFID.
Chase Buchanan Insurance Services, Agents & Advisors is authorised and regulated by the Cyprus Insurance Companies Control Service with License No 6883 and offers services in the EU on a cross-border basis as per the provisions of the Insurance Distribution Directive (IDD).
Investing in financial instruments involves risk and may not be suitable for all investors. The value of investments may go up as well as down and past performance is not a reliable indicator of future results. You may lose part or all of your invested capital.
Media Contact:
Chase Buchanan Ltd
+357 2501 0455
Source: Digital PR
Release ID: 1859226
