Hiring employees is the trickiest part of opening a new business—and it’s even trickier when you’re trying to do it overseas. In Portugal, hiring is overseen by the Portuguese Labour Code, which also sets rules on employee treatment, salaries, benefits, and other essential matters.
Before hiring, make sure you are registered with the local social security office where you plan to set up your business. Employees must be registered with the same office the same or next day that the contract takes effect.
There are several ways to go about an employee contract in Portugal; some of the most common are fixed-term and temporary open-ended contracts. Your decision, as with anything in ...
Hiring in Portugal
Hiring employees is the trickiest part of opening a new business—and it’s even trickier when you’re trying to do it overseas. In Portugal, hiring is overseen by the Portuguese Labour Code, which also sets rules on employee treatment, salaries, benefits, and other essential matters.
Before hiring, make sure you are registered with the local social security office where you plan to set up your business. Employees must be registered with the same office the same or next day that the contract takes effect.
There are several ways to go about an employee contract in Portugal; some of the most common are fixed-term and temporary open-ended contracts. Your decision, as with anything in ...
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Eating Out in Portugal
Restaurants are a big business in Portugal, with both locals and tourists keeping business alive even in the smallest of villages. Whether you’re here on business or pleasure, the restaurant scene is not to be missed: the world-class cuisine coupled with the natural hospitability of the Portuguese makes for a one-of-a-kind experience.
That being said, there are cultural considerations to remember, as is the case with any other country. Here are some of the most important.
Seat yourself: At most restaurants, you don’t have to wait to be seated—you just take any unoccupied table and a waiter or waitress is sure to spot you. Some locals even take tables before they’re cleared ...
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An introduction to Basic Accounting
What is the role of accounting? Do we really need it? How does accounting benefit business?
Accounting helps business people make well informed decisions about their business. The language of business is accounting and just like other languages it has its own rules and vocabulary. Learning this language will not only help you in your business, but in your personal finances and investment decisions.
Is it worth printing my own business checks? Should I use a book keeping program like Quickbooks, to print Quickbooks checks or should I use bank issued checks for my business?
Good bookkeeping is the first step in good accounting practices, and software ...
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Long Term Rentals in Portugal
Renting is the practical choice for Portugal visitors who want more than a vacation but have no long-term plans. There are two main types to choose from: short-term or long-term rentals. If you see yourself settling here for at least the next year or so, long term rentals in Portugal may be your best bet.
A rental is usually considered long-term in the country if it lasts six months or more. Long-term rentals are more common in urban areas and inland suburbs, as resort communities attract more buyers than renters. In areas where they flourish, the choices range from simple studio apartments to luxury homes complete with exclusive pools and wine ...
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Finding Work in Portugal
Portugal attracts workers from all over Europe with its low property prices, good weather, and laid-back vibe, despite the fact that it’s in a rough economic patch. People who come here to work range from youngsters fresh out of university to those at the height of their careers, either looking for advancement or a change of pace.
The Portugal job market can be challenging, however, especially with many industries shrinking as a result of the recent bailout. The travel and service sectors account for more than half the jobs, making it especially ideal for sales, marketing, tourism, and engineering graduates. Indeed, even in this economic environment some areas continue to flourish—for ...
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Portugal Living
Portugal has long been a top choice for workers and businessmen looking to live in mainland Europe. Its economic issues notwithstanding, it’s a great place to live—it’s got beaches, historic sites, great food, and a lively culture. But it’s one thing to visit and another to pack up and settle down—and a surprising number of expats seem to miss the difference.
The first hurdle is the web of technicalities involved in becoming a resident. If you’re from Europe, you have to take your passport to Portugal’s immigration office, the Serviço de Estrangeiros e Fronteiras (SEF), and sign a statement that you are working and studying in the country. You will also ...
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Tax in Portugal: An Overview
Tax in Portugal applies to residents and foreign nationals alike earning income in the country, either as employees or self-employed individuals. The latter are usually required to pay taxes only in Portugal. Those who have met the requirements for foreign residency for at least 183 days are taxed on income earned both in Portugal and overseas.
The Portugal tax year ends on December 31 of every year. The filing deadline is April 30 for individuals and May 31 for companies. Taxpayers can make up to three advanced payments in July, September, and December, with a fourth payment of 1% allowed on the day of the filing.
Like most countries, Portugal computes tax ...
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Buying Portugal Houses
Portugal real estate has always held a special appeal to foreign investors, especially those in the U.K. and Ireland. Now that prices are down and the country is on a fairly stable recovery plan, home buying is on the rise, and experts agree that it’s one of the best times to jump in. But timing is only part of the deal—as a buyer, you also have to consider your options and make sure you’re up for the challenge.
Choosing a home in Portugal is a multi-faceted decision. The first decisions are fairly easy: do you want to live in the city or country, inland or on the coast, in a single-family ...
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Buying Portugal Property
Portugal’s economic downturn was a bane to many investors, but to a select few, it’s an open door. Real estate prices are down, making it a good time to buy property in both the residential and commercial markets. There are risks, of course, but it can hardly be denied that prices like today’s—down as much as 40% in some areas—are few and far between.
The election of Pedro Passos Coelho, a Social Democrat, as the country’s new prime minister marks a period of austerity for the country. Passos Coelho is widely expected to make good on his promise of meeting the terms of the EU-IMF bailout it accepted in mid-May, which ...
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New Portuguese PM Promises Stable Government, Fast Recovery
Less than two weeks in the seat as Portugal’s new prime minister, Pedro Passos Coelho promised to turn things around for his debt-ridden country, starting with a stable coalition government alongside the smaller conservative party, Centro Democrático e Social (CDS).
Passos Coelho, who succeeds José Sócrates, signed a political accord on June 16th with CDS leader Paulo Portas. In a press conference that followed, he said the step marked “a new cycle” in Portugal’s recovery, with a new majority government that he expects to remain on its feet over the next four years.
He also promised to regain trust in Portugal and its financial markets, and encourage investments in the country as ...
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Slow Economy Drives Emigration in Spain, Portugal
Young Portuguese and Spanish professionals are beginning to cast their dreams overseas and/or on online jobs or virtual offices. Some of them are fresh out of school, some just about to graduate, and others have years of experience to their name. But the one thing they have in common is an increasing lack of confidence in their own country.
Portugal has been in dire economic straits for the last two years, and employment was just one of many sectors that felt the pinch. Its acceptance of the euro-zone and International Monetary Fund (IMF) bailout earlier this year was seen by many as the last straw. A similar crisis seems to be in the works in Spain, aggravated by a looming real estate bubble.
It seems to have sparked an emigration wave not unlike the ones that drove Spaniards and Portuguese workers to the Americas from the 1950s to the 1970s. This time, however, they are flocking to their European neighbors, encouraged by the recent euro-zone economic boom.
Canada and the U.S. remain popular destinations, but France, Germany, and the rest of Western Europe are luring a larger number of immigrants. Some 600,000 people have already left Spain to look for greener pastures in Germany, according to the German agency Deutsche-Presse Agentur.
Spain and Portugal suffered serious blows from the 2008 recession. Portugal’s weak economic structure crumbled early on, but its larger neighbour has so far remained on its feet. However, the Spanish economy has grown at a snail’s pace for several years running, and its 20% unemployment rate is the highest in the euro-zone.
Portugal’s new Prime Minister Pedro Passos Coelho, who replaced José Sócrates on June 21, has warned his people of difficult times ahead, with the economy expected to shrink by 2% in the next two years. Unemployment is currently at 12.6%.
The emigration wave is one of the biggest Portugal’s recent history, according to some experts, although no exact figures are available. Besides Europe and the Americas, the Portuguese are moving to former colonies such as Brazil, where at least there is no language barrier. Others have fled as far as China. The construction sector has been particularly hard-hit, making emigration particularly attractive to architects, engineers, and manual laborers.
In a similar vein, immigration to the two countries has gone down. Immigrants from Africa and Latin America are opting for the U.S., Canada, and even Australia, whereas their Iberian neighbors were once more attractive destinations.
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Personal Insurance
Personal insurance plans are one of the most important things to have in the modern world. They’re not only your fall back should your plans fail, they are also one of the best places to invest your money. Personal insurance these days is more of a necessity than a luxury, and thankfully, it is no longer just for the rich among us. And like with those who would want to ensure that their family members, especially the elderly, are safe would buy medic alert bracelet to make sure help is readily available any time. Most insurance companies nowadays offer plans at different price ranges to suit your needs. You don’t need to shell out as much as $100 a month just to pay off your monthly deposit. Some plans even go as low as $3 – $5 a month!
Building your Business Credit
If you have a business, getting a loan package is sometimes inevitable. There are occasions when an entrepreneur needs financial assistance for various purposes like expansion of the business, additional operational funds, or funding another business venture.
With a good name and a good loaning company, you may even get a same day payday loan in your account in minutes. There are financial businesses that lend financial assistance to budding enterprises and those that are in a tight financial condition. As a requirement for the loan package, the lender would ask for the business owner’s personal credit report – aside from collateral and other documents directly related to the business. You may also find loaning companies that have toll free numbers that you can call should you need more assistance in terms of loaning procedures.
Why is Rocky Point Mexico a Popular Vacation Destination?
One of the best vacation destinations at the moment is Puerto Penasco in Mexico. Puerto Penasco Mexico weather is well-suited for individuals or couples who long for hot and luxurious environments.
Mexico has the advantage of uncrowded beaches with luxury resorts at more reasonable prices. You can rent apartments with excellent views that won’t break the budget, and you will need your oakley sunglasses as the sun is always shining.
There is a place called Rocky Point that has spectacular beaches and a number of world class resorts.
Sonoron Sky is a resort located at sandy beach and is a member of the Sonoran Resort chain. It has larger rooms than most resorts and spectacular views of the Sky of Cortez. The resort has good reviews on Trip Advisor and has a full range of amenities including an outdoor movie theatre that you can view from the pool. Plenty of Bars, an internet room, Jacuzzi and fitness centre. It is centrally located with Shopping centres only minutes away at Rocky Point.
Its sister Hotel the Sonoran Sea Hotel is also at Rocky Point. Sonoran Sea Resort Condos include their own private oceanfront balcony and have fantastic views of the ocean and Rocky Point. Condos are also equipped with Tv and stereo, air conditioning, kitchen, and a laundry so you can have second home in paradise.
Rocky point is becoming more popular with Americans as it’s only a 4 hour drive from Phoenix.
I encourage you to read the reviews on these resorts, as you will be pleasantly surprised.
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