Portugal Anyone?
For those in a Wanderlust State of Mind - Eugenio Maslowski of Successful Strategies Group/Concierge Services encourages, “think Portugal”
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There seems to be a quiet love affair with Portugal, fueling a steady movement of expatriates trickling into the European country. The U.S. Tech Sector seems to be in on this secret. Whether seeking a change of pace, work-life balance or choices of easy and retirement living, today an increasing number of those with disposable income are seeking a “plan B” for their lives, considering options for life abroad, and have caught the Portugal bug.
EugenioMaslowski of Successful Strategies Group/Concierge Services encourages, “If life abroad beckons, think Portugal.” Billed as a “sophisticated world-class paradise, where one can enjoy quality of life,” the quaint European country, with its charming beach towns, vineyards and olive groves, and chic historic cities, temperate weather and glorious coastlines has emerged as a mecca for those seeking top choices in affordable living. And with its Golden Visa program, Portugal has become one of the most popular residence by investment programs in Europe and in the world.
Boasting modern comforts, affordable living including choices of private healthcare, easy living, culture and good food, Portugal – with its laid-back lifestyle, friendly population, and attractive tax regime -- is emerging as a favorite location for those seeking a second home- with a visa to go with it. And Eugenio Maslowski is there with his concierge service, Successful Strategies Group, to make the process as easy as pie.
Who Wants Expats?
A number of countries have already cast a dragnet hoping to catch those looking for a second home, in a second country, with a second visa leading to a second passport. Ireland for example attracts those whose ancestry harkens back to the Emerald Ile; Riga, Latvia, is a haven for Russians who want a break from home and an EU passport...just in case.
Searching for “Plan B”
The Venezuelan native, now a US citizen and resident of Jacksonville, Florida, Maslowski has spent most of his business career helping people re-settle internationally for major global enterprises, including serving as “Outsoursing provider” for the Spanish oil and petrochemical company Repsol. His own moment of truth arrived in 1998, when he decided to immigrate from Venezuela.” I realized then that I needed a Plan B,” he says.
As the offspring of a Russian mother and Polish father, Maslowski was able to obtain Polish citizenship, which provided freedom of movement and residency throughout the 27-nation European Union. “I realized it is important to have a global presence, to have freedom of movement,” he opines. It’s the philosophy that inspired him to create a business to assist others seeking flexibility...a Plan B.
Setting up a life in another country is fraught with hurdles and paperwork, regardless of where you come from: how much time must you spend in this second country to be eligible for a visa? What is your tax responsibility? Do you have the right to work? Do you even want the right to work? How can you demonstrate you will not be a drain on the second country’s social service systems - such as heath care?
The 24/7 Concierge
Successful Strategies Group/Concierge Services VIP opened its doors in the beginning of the year. Maslowski runs it from his base in Jacksonville, Florida, with the help of a partner in Lisbon specializing in real estate. The necessary retinue of Portuguese lawyers and accountants are hired in as needed.
He and his associates “provide 24/7 customer care” -- everything the aspiring ex-pat (and family) could want, and a few things he or she probably hasn’t thought of:
- Financial Planning prior to moving to Portugal.
- Expediting the physical move to Portugal.
- Welcome services upon arrival to Portugal, hotel reservations, car rental with or without drivers,
- Introduction to additional organizations (cultural, social, etc) in Portugal.
- Assistance in finding schools, domestic staff, etc in Portugal.
- Opening of Portuguese bank accounts.
- Guidance through the three-year immigration process (visa leading to citizenship).
- Access to 100 % of the Real Estate properties available in Portugal.
- Legal assistance in purchasing (and financing as necessary).
- Project management for one year.
Why Portugal?
Why is Maslowski so high on Portugal, a favorite country of his since his first visit back in 2005? “In Europe, people live better [than in the Americas],” he says. “They understand how to live. And in Portugal there’s history, great food, golfing, surfing, great weather...and most people speak English and Spanish as well as Portuguese”. Immigration is welcomed.
Aside from all this, there are tangible financial benefits to buying a second home in Portugal. “You just have to own the property for three years, to prove you’re an investor,” Maslowski explains. “You don’t have to create jobs, there’s no language requirement [to be proficient in Portuguese], you don’t pay personal income taxes for the first ten years, and you only have to be physically present in the country for seven days a year to qualify as a ‘resident’,” he adds, “and in three years you have a Portuguese passport, which gives you access to all of the EU.”
Dollars and Sense
There is a cost to all of this, of course. Maslowski’s typical customer should have an estate worth at least $5 million, with $2 million in discretionary funds for investment. The real estate investment must be € 350,000 minimum, cash (though financing may be available for amounts more than € 350,000).
Successful Strategies Group charges 39,000-Euros (about $45,000) for its services (families may pay more), some of that amount is non-refundable. Attorneys, accountants, and real estate closing fees are additional. Perhaps most importantly, discretion is included. “We have a legal contract with our clients,” says Maslowski,” so we’re covered under attorney-client privilege.”
Email Eugenio with your inquiries: EugemasPlus@gmail.com
Until you would visit Portugal, you may say you have only lived half of your existence...