Don't forget to budget for the Capital Gains Tax (CGT) you'll have to pay on the money from the sale of your home. As you are not using the money to buy another home in the UK, you won't be exempt from CGT. It could be a hefty bill... depending how long you've had the house. It's very hard to start any business in rural Portugal because you'll have to do all kinds of business registrations and inspections, may take more than 2 years and clientele may not be enough. The legislation that applies for Yoga retreats is the Travel Package Holiday as you'd be offering accommodation + a service together, which is classified as a package. Have a look at it online before commiting. You'd need a commercial license, so the property would have to be good for commercial use, that's different from Rustic or Urban plots. Ask the local Camara about plots good for commercial use. Yurts & tents would not pass the ASAE inspection, they can only be rented out by a licensed campsite, not a private owner in their back garden = illegal. To open a AirBnB in your home or an annexe, you need to apply for a AL License, and the accommodation will be inspected before the license is approved, has to comply with sanitary rules, have hot & cold water, shower, flush toilet etc. The AL License changes the status of your home to "business use" and any rental income you receive attracts a 28% tax. Without the AL license, you won't be able to put your place online on AirBnB and other sites. If you bought a house with an AL license already in place, you could start renting out straight away, BUT... be aware that you'd also have to pay the tax for the previous year's takings received by the current owner. BECAUSE... AirBnB taxes are paid the year after they are received and they relate to the property, not the owner. I think a house with a AL license could also attract a higher stamp duty when you buy it, but not 100% sure. Worth checking. Fines for unlicensed places are around 5,000 Euros and authorities are on the lookout for them as the fines povide a quick source of revenue... for them! AirBnBs in rural areas don't get much clients, maybe a few in summer, most people prefer to stay in towns and only for a couple of nights, rest of the year = zero. There are a lot of AirBnBs in rural areas already. There is no shortage in Portugal of hairdressers and yoga teachers. In my area the prices have been going down, I used to pay 12 Euros for shampoo, cut & blow dry, same hairdresser charges now 8 Euros. She's only opening 2 days a week now, she says it's not worth opening every day as there are no clients. After moving to Portugal, you may find that you have no source of income and depend entirely on your husband's.
@@thehynelife I don't mean to put you off from moving to Portugal, and the country is trying to attract young families because the portuguese population is decreasing at an alarming rate. We need more people to live, work and pay taxes to be able to maintain our portuguese quality of services. You & family are perfect candidates! But please consider all the pros and cons for your situation as many expats are giving up and moving back when they realize that their plans don't work out. Careful planning over a period of time will work in your favour. If you could rent out your UK home first instead of selling it, it may give you time and space to try life in Portugal and look for your ideal home & business start-up there, while renting, without jumping head first into a rocky pool. There are also a lot of scams, tricks and pitfalls in the buying process that you may not be aware. I'll be posting more info about the buying process, because I hate seeing some people taking advantage of foreigners. Both local portuguese and expats are doing that. Don't believe all you see on youtube, it's all for clicks... That'll be my "good deed" to put the world to rights today.
it is always such a pleasure to read your comments. We moved to portugal in 2010 from the UK its been a long and challenging road we are still here obviously but it also upsets us seeing loads of young couples coming especially to central portugal to live a self sufficient lifestyle without really understanding the realities of living here legally so please continue to comment where you can you might save some of them from broken dreams😁@@donnacosta5633
If you go and visit a place to buy. Go during winter to see how it is. Not only a lot of business are only open summer time but also a lot of rural houses have a lot of damp issues. Winters in Portugal are ruthless. Majority of houses have no heating and if you use electric heaters you will pay a fortune. Do all your research. Good luck.
Hi, thanks for making this video! I am also considering moving to Portugal myself.... was wondering if you can you tell me which the specific Facebook groups are, that you mention in the video? Many thanks and good luck with everything! 😊
The restrictions are alot right now and unless you have a very very good income they won't let you on unfortunately. The only way around it is to do 90 days in and 90 days out x
Don't forget to budget for the Capital Gains Tax (CGT) you'll have to pay on the money from the sale of your home. As you are not using the money to buy another home in the UK, you won't be exempt from CGT. It could be a hefty bill... depending how long you've had the house.
It's very hard to start any business in rural Portugal because you'll have to do all kinds of business registrations and inspections, may take more than 2 years and clientele may not be enough. The legislation that applies for Yoga retreats is the Travel Package Holiday as you'd be offering accommodation + a service together, which is classified as a package. Have a look at it online before commiting.
You'd need a commercial license, so the property would have to be good for commercial use, that's different from Rustic or Urban plots. Ask the local Camara about plots good for commercial use.
Yurts & tents would not pass the ASAE inspection, they can only be rented out by a licensed campsite, not a private owner in their back garden = illegal.
To open a AirBnB in your home or an annexe, you need to apply for a AL License, and the accommodation will be inspected before the license is approved, has to comply with sanitary rules, have hot & cold water, shower, flush toilet etc. The AL License changes the status of your home to "business use" and any rental income you receive attracts a 28% tax. Without the AL license, you won't be able to put your place online on AirBnB and other sites.
If you bought a house with an AL license already in place, you could start renting out straight away, BUT... be aware that you'd also have to pay the tax for the previous year's takings received by the current owner. BECAUSE... AirBnB taxes are paid the year after they are received and they relate to the property, not the owner. I think a house with a AL license could also attract a higher stamp duty when you buy it, but not 100% sure. Worth checking.
Fines for unlicensed places are around 5,000 Euros and authorities are on the lookout for them as the fines povide a quick source of revenue... for them!
AirBnBs in rural areas don't get much clients, maybe a few in summer, most people prefer to stay in towns and only for a couple of nights, rest of the year = zero. There are a lot of AirBnBs in rural areas already.
There is no shortage in Portugal of hairdressers and yoga teachers.
In my area the prices have been going down, I used to pay 12 Euros for shampoo, cut & blow dry, same hairdresser charges now 8 Euros. She's only opening 2 days a week now, she says it's not worth opening every day as there are no clients.
After moving to Portugal, you may find that you have no source of income and depend entirely on your husband's.
Thank you for all that information. That's good to know. Alot to think about 😊🙏
@@thehynelife I don't mean to put you off from moving to Portugal, and the country is trying to attract young families because the portuguese population is decreasing at an alarming rate. We need more people to live, work and pay taxes to be able to maintain our portuguese quality of services. You & family are perfect candidates!
But please consider all the pros and cons for your situation as many expats are giving up and moving back when they realize that their plans don't work out. Careful planning over a period of time will work in your favour.
If you could rent out your UK home first instead of selling it, it may give you time and space to try life in Portugal and look for your ideal home & business start-up there, while renting, without jumping head first into a rocky pool.
There are also a lot of scams, tricks and pitfalls in the buying process that you may not be aware.
I'll be posting more info about the buying process, because I hate seeing some people taking advantage of foreigners. Both local portuguese and expats are doing that.
Don't believe all you see on youtube, it's all for clicks... That'll be my "good deed" to put the world to rights today.
@@donnacosta5633 great idea. No worries, not putting us off at all. x
it is always such a pleasure to read your comments. We moved to portugal in 2010 from the UK its been a long and challenging road we are still here obviously but it also upsets us seeing loads of young couples coming especially to central portugal to live a self sufficient lifestyle without really understanding the realities of living here legally so please continue to comment where you can you might save some of them from broken dreams😁@@donnacosta5633
I look forward too watching & following your journey! 💜
Yay! Thank you!
If you go and visit a place to buy. Go during winter to see how it is. Not only a lot of business are only open summer time but also a lot of rural houses have a lot of damp issues. Winters in Portugal are ruthless. Majority of houses have no heating and if you use electric heaters you will pay a fortune.
Do all your research. Good luck.
Yes this is definitely on our list of things to do x
Love it love it love it. Leah I wish you and your family every success. Go for it!! Oh and I will be following your every move 😂🙏🏽❤️
Thank you Gary, it's scary but exciting at the same time 🥰
Videos will be coming regularly as we have updates ❤
Hi, thanks for making this video! I am also considering moving to Portugal myself.... was wondering if you can you tell me which the specific Facebook groups are, that you mention in the video?
Many thanks and good luck with everything! 😊
This is the most helpful one - facebook.com/groups/413115937699774/?ref=share (the British immigrants in Portugal group)
And also this one - facebook.com/groups/321579192940932/?ref=share
Not sure on your situation but also this family one - facebook.com/groups/346595560362656/?ref=share
Thankyou so much, Ill take a look at them 😊
Many thanks and I will keep following your journey 👍
I want to move but i have health issues and i havent worked in some time any idea how i dont like the uk is grim and cold
The restrictions are alot right now and unless you have a very very good income they won't let you on unfortunately. The only way around it is to do 90 days in and 90 days out x