Pensioners take advantage of tax law

pensinoners take advantage of tax law

Algarve might be known for a lot of things, such as, great weather and beaches. Due to this richness, it attracts a lot of foreigners.

However, recently, Algarve has been attracting foreigners of a different breed, and it’s not because of the usual atmosphere.

Pensioners from Finland are looking to take advantage of the 10-year tax free exemption on pension incomes that Algarve is offering.

“I’ve received tens if not hundreds of phone calls not only from Finland but also from Finns living in Morocco, Turkey and Spain. We’ve also had to provide services to holidaymakers who are considering retiring here for tax reasons,” said Raimo Luokomaa, the chairman of the Finnish Society in Algarve.

The enquiries have come in so fast that the society has not been able to keep up with being able to give a timely reply.

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