Blacktower’s new american desk is designed to assist american nationals moving to portugal with all of their financial requirements
In recent years, the number of American expats moving to Portugal has increased dramatically. The quality of life, relatively low cost of living and blend of both rural and city environments is resulting in a record-number of US nationals making the move overseas. The comparatively low property prices are also attracting a younger demographic than the traditional retirees who have relocated to Portugal in the past. These younger expats, who might be struggling to get on the property ladder back in the States due to rapidly increasing prices, are moving to make the most of Portugal’s more affordable housing, often finding they are able to buy far larger properties for much less than they would be sold for in America.
However, despite Portugal clearly having a lot to offer to those who relocate there, the process of moving your life from one continent to another can be, without doubt, a daunting one. Putting aside the logistical considerations of moving possessions, arranging accommodation and ensuring all documentation is in order, the prospect of transferring financial arrangements alone can be intimidating enough to put off some of those who might be considering making the move.
This is where we can help. The launch of Black- tower’s new American Desk was designed to assist American nationals moving to Portugal with all of their financial requirements, allowing our clients to focus on settling into their new home instead. With teams based in both the US and Portugal, we are equipped with the knowledge, expertise and regulatory footprint to ensure that your finances are taken care of, both at home, and abroad.
The presentation of the PAN Finance Most Trusted Wealth Management Advisory Services award to the Blacktower Group is a testament to our established reputation in the industry, which has been built on 36 years of experience.
Communication is vital when giving or receiving financial advice and we believe that this is best conducted face-to-face where possible. This helps to establish a comfortable working relationship between adviser and client and ensures clarity when making decisions. Here at Blacktower, our extensive regulatory footprint means that we have a physical presence in both the US (New York) and Portugal (Lisbon and the Algarve), meaning that our experienced advisers can assist you at every step of the process whilst continuing to offer that personal, face-to-face service we know is so important.
Blacktower’s Group Managing Director, Gavin Pluck, asserts that ‘being regulated in both the US and Europe allows us to provide a seamless transition to those moving between the two. This unique offering of a comprehensive, intercontinental financial planning solution, is designed to alleviate the concerns of those looking to transfer their financial arrangements abroad’.
We offer a range of services tailored to the needs of expats, including everything from international mortgage solutions to currency exchange services, saving you time and money. Our American Desk is truly a holistic, convenient solution to what can be a complex process when navigating it alone, or without professional advice.
Often, when expats move abroad, they find that the decision can limit their options when it comes to their investments. This is particularly relevant to US nationals as most custodians will move your 401k into a close-only investment position once you update your address. This means that even though you retain the option to sell, doing so will mean that you can no longer purchase any more investments.
However, we are a global institution who handle similar scenarios every day as we provide our services to clients in over 40 countries all over the world. Our presence in the US means that even after moving, you will still have ac- cess to all the investment privileges you would have if you were a US resident. This includes foreign markets, single stocks, and US ETFs.
Not only does this allow increased flexibility regarding how you decide to move forward with your investments, but it also means that you should be able to choose the option that will provide you with the best returns, helping to safeguard your financial future and get the most out of your assets and savings.
Ensuring that your finances are in order is a fantastic way to put your mind at ease and reduce your work-load when moving. However, it is also essential if you want to avoid fines or the other costly consequences of foregoing adequate financial planning and being caught
out by legal or governing bodies. Laws regarding taxation and other financial contributions can not only vary from country-to-country, but also from region-to-region, often making compliance to these rules confusing and particularly challenging to new residents.
Enlisting the help of a financial adviser who is familiar with local laws as well as national ones is imperative, and with 36 years’ of experience in our industry, you can trust in our award-winning service and focus on the things that really matter. Peace of mind is priceless.
We understand that it is a privilege to be trusted with our clients’ finances and futures, and we ensure to provide the same high level of professionalism and attention to every client, no matter what financial services they require or where they might be located.
If you would like assistance in your move to Portugal, you can find out more on our website or arrange a complimentary review of your finances by contacting us using this email: Info@blacktowerfm.com.
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