Spring 2015 - The Residences Victoria

SPRING 2015 NEWSLETTER
Welcome to The Residences
at Victoria Clube de Golfe
Vilamoura Lifestyle
With over 300 days of sunshine each year, mild and sunny winters, beautiful warm spring and
autumn days and three hot summer months, Vilamoura provides one of the best all year round
climates in Europe. Average winter day time temperatures rarely fall below 18ºc with a minimum
10ºc at night.
With rain falling mainly at night or in short bursts during the day, we are blessed with clear sunny skies
most of the year. This ideal micro climate offers an active outdoor lifestyle for twelve months of the year.
Whether it be permanent living, a winter escape, holidays or short breaks, Vilamoura can offer you and
your family everything they need.
The ideal weather, low cost of living, favourable tax breaks on private pensions, realistic and affordable
property prices, excellent food and healthy lifestyle, makes an investment at The Residences an ideal
choice.
Rental Pool Update
With nearly 100 owners participating in the exclusive in-house Tivoli Hotels Apartments Rental
Pool, over €2 million income was shared between these owners in 2014. The Pool Income is
projected to increase a further 10% for 2015. The income is shared between all participating
apartment owners on a daily basis, offering owners, their family and friend's flexibility when to
stay plus an income which off sets their annual running costs and can effectively provide free
holidays plus a property investment for the future.
The Duke of Edinburgh
Cup Charity Golf Tournament
The Duke of Edinburgh Cup & Residences Owners
Annual Golf Tournament, Victoria Course 30th May
Saturday 30th May is the date for this year’s Portugal Qualifying Event, Vilamoura, for the World Finals
of The Duke of Edinburgh Cup 2015. It is also the seventh Residences Owners Annual Golf
Tournament, since opening in July 2009. This special charity event will take place on the Oceânico
Victoria Course with a field of players, including owners, Fellows of the Duke of Edinburgh Trust,
friends and specially invited guests. The first and second placed will be invited to play in the World
Finals, to be held at Windsor Castle in October.
The best placed Residences Owner will be invited to play in the
Portugal Masters Pro-Am Tournament, at the Victoria Course,
Wednesday 14th October.
Lunch will be held at The Residences Piazza followed by a Gala
Dinner & Prize giving Ceremony at The Tivoli Victoria Hotel, with
prizes sponsored by The André Jordan Group.
This is the ninth year through the Duke of Edinburgh Cup golf
competition, that International Golf for Youth has been able to
help youngsters in Portugal develop their talents, mostly through
Premio Infante D. Henrique.
HRH Prince Edward, Earl of Wessex presenting last year’s event winner Kieran Towey (right) and
second placed Paul Kennedy (left) with the prize for first overall in the doubles event, of the World
Finals, the Duke of Edinburgh Cup, held at Windsor Castle, Windsor between the 5th to 9th October
last year.
Portugal Masters, October 2014
Alexander Levy wins rain-shortened event
PORTUGAL MASTERS FINAL LEADER BOARD
1. LEVY Alexander (France) -18
2. COLSAERTS Nicolas (Belgium) -15
3. AGUILAR Felipe (Chile) -13
4. BLAND Richard (England) -11
5. MADSEN Morten (Denmark) -11
6. WATTEL Romain (France) -11
France's Alexander Levy won the Portugal
Masters as the event was reduced to 36 holes
by persistent rain. The tournament had
already been cut to 54 holes after rain on
Thursday and Friday meant many players did
not start their second rounds until the
weekend.
Levy, who was leading on 18 under after round two, had played one hole of round three when rain
returned and organisers decided the 36 hole scores would stand.
It was the 24-year-old's second European Tour win, after April's China Open.
"If at the start of the year you say to me, 'You are going to win two tournaments', I would say 'never',"
Levy told Sky Sports. "It's a very nice feeling to me. I'm very happy."
Belgian Nicolas Colsaerts, finished second, three shots adrift on 15 under, with Chile's Felipe Aguilar
13 under.
Europe's victorious Ryder Cup captain Paul McGinley was one of only four players to complete the
final round.
Belgium's Nicolas Colsaerts came within millimetres of becoming the first man to shoot a sub 60
round in the 42-year history of the European Tour during the opening round of the Portugal Masters.
The 31-year-old missed a 20-foot birdie putt at the 18th at the Oceanico Victoria Golf Club on
Thursday to miss out by one stroke.
The André Jordan Group & The Residences
Portugal Masters Pro-Am Teams
Andrew Kennedy, Martin Quinlan, Filipe Aguilar, Declan Towey
Ralf Ence, Mark Warren, John Duckworth, William Keane
The André Jordan Group Pro-Am team played
with Filipe Aguilar from Chile. Both the Team & Filipe
himself finished third in the two tournaments.
The Residences at Victoria Pro-Am Team, played with
Mark Warren from England.
Enjoy The Residences
at Victoria Experience
To experience all the benefits of these beautiful fully serviced luxury apartments, why not book in for
a long weekend or stay longer. Special weekly rates apply, subject to availability.
Book directly via:
http://www.tivolihotels.com/en/our-hotels/algarve/the-residences-at-victoria/the-hotel.aspx
EMAIL: [email protected]
All these superb high specification apartments are fully equipped, large lounge / diner, separate
kitchen with laundry area, ideal for self catering families, friends and golfers.
Your stay comes with use of the Tivoli courtesy bus to and from the Tivoli Marina Hotel, Beach and
central Marina area, plus complimentary use of all the facilities of the Tivoli Victoria Hotel & SPA
located next door and the Tivoli Marina Hotel & SPA on the beach.
Residences Victoria Resort Reception
+351 289 317 520 [email protected]
Reservations: [email protected]
www.tivolihotels.com
SPECIAL PROMOTIONAL APARTMENT pRICES
2014 saw the property market start to bounce back after the recession of late 2008. Growing confidence
amongst investors, the increasing desirability of owning an overseas property, excellent value for money of
Vilamoura properties, coupled with several favourable tax schemes and a stronger UK Pound, have all led
to a continued increase in serious enquiries and completed purchases.
The few remaining apartments are still available at Special Promotional Prices. We have units in various
locations, different views and varying prices. 2 or 3 bedroom apartments with internal Resort views to
Premium golf front 2 bedrooms overlooking the Victoria Golf Course. All available for immediate use
privately or as a rental investment via the Tivoli Hotels & Resorts in-house rental pool.
The Resort has now achieved several sales to owners residing in non EC countries via the Portuguese
Golden Visa scheme, plus a growing number of European buyers from Sweden, Switzerland, France,
Belgium, Holland and Spain, all taking advantage of the Non Habitual Resident Tax Regime.
Current Portugal Tax Benefits
Changes introduced within the Portuguese tax law, are particularly interesting for foreign nationals considering
becoming resident in Portugal. A new set of rules have been introduced regarding the entry and stay of foreign
nationals in Portugal, includes the:
Non Habitual Resident Tax Regime and the Golden Residence Permit
Non Habitual Residents
For those individuals who also wish to reside in Portugal, a special tax regime for non-habitual residents may apply,
which may lead to a more beneficial tax burden.
Broadly, this regime is applicable to individuals who meet the criteria to qualify as tax resident in Portugal under the
applicable tax residency rules (namely, if they stay in Portugal more than 183 days during the related year or have,
on the 31st December of the relevant year, a place that they intend to use as their habitual residence, which can be
the real estate they invested in) and have not been taxed as tax resident in Portugal in the previous five years.
Once granted, this regime applies for 10 years, provided that, in each year, the individual meets the criteria to qualify
as a tax resident herein.
The main advantages of this tax regime are:
For Portuguese source employment and self employment income deriving from a “high-value-added” activity (as
defined by Ministerial Order), a 20% special rate, with an additional surcharge of 3.5%, applies;
For foreign source income, a tax exemption may apply in most cases:
» for rental income, investment income and capital gains, for example, the exemption applies if the income may be
taxed in the country of its source based on (i) the double tax treaty rules, ii) the OECD Model Convention if no treaty
exists between Portugal and the country of source of the income, provided, in this case, that under the Portuguese
domestic rules, such income is not considered as Portuguese source income;
» for pensions, the exemption is granted provided that the income is (i) taxed in the country of its source based on the
double tax treaty rules, or (ii) not considered as Portuguese source income under the Portuguese domestic rules.
This special tax regime is not limited to the Golden Residence Permit holders and can be granted to any individual
who meets the conditions above mentioned.
Golden Residence Permit
Residence permit can be granted to non EU citizen or citizens from States that are not part of the Schengen
Convention.
This temporary residence permit is granted provided that the foreign national, personally or through a company,
makes an investment corresponding either to:
1. transfer of capital in an amount equal or greater than € 1.000.000;
2. the creation of 10 jobs;
3. the acquisition of real estate of a value equal or greater than € 500.000.
Such investment must be maintained for a period of five years from the date the Golden Residence Permit is
granted.
The Golden Residence Permit is valid for a period of one year with reissue renewable for successive periods of two
years and enables the individual to travel freely around the Schengen area. To date over 1,750 Permits have been
issued raising over €1 billion for the Portuguese economy.
It has never been a better time to invest
in the Best Resort in Vilamoura
The Residences Apartment Sales Team have great pleasure in inviting all our friends and guests to visit this
Award Winning Luxury Resort, set in the heart of Vilamoura Golf yet only 5 minutes drive to the marina,
beaches, restaurants and nightlife.
FOR MORE INFORMATION, PLEASE CONTACT
Alan Ellis
(+351) 964 855 388
[email protected]
António Henriques da Silva
(+351) 919 364 741
[email protected]
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