CASITA PATEO ALBUFEIRA
Can you believe this picture shows only 1/3 of the property?
Albufeira Portugal is a hidden treasure and it is becoming a top-trending destination to visit and for retirement, located 35 minutes from Faro airport or 2.5 hours from Lisbon airport.
Our friends Brooklin and Jose (Portuguese pronunciation is Joe-Zay) from Kamloops moved to Albufeira last year.
Check out their 1-bedroom casita guest house that is now ready for short-term stay.
Looking forward to visiting them again later this year.
COMPLETE YOUR DEGREE ONLINE
It’s unofficial, but I completed my Bachelors’ Degree averaging between A to A+ with a C+ in the very first course I took due to technical issues.
Highly recommend taking a writing course that specializes in APA 7 citations before starting a degree program, because MLA and CMS styles are much easier to learn.
I have 2 electives and 6 credits to complete the required semester hours for my BA LDRS degree.
The great thing with asynchronous learning is that it is done online in 6-week increments.
TWU specifically designed the Adult Degree Completion (ADC) program for working adults, and you can actually finish a Bachelor’s Degree faster asynchronously than through full-time enrolment.
Why not start a conversation with an Enrolment Advisor?
July Ono.
PORTUGAL IN TOP 5
Last year, Portugal was rated in the top 5 destinations for a happy retirement.
This 23-minute video interview summarizes the reasons why this business man chose to leave the United States for greener pastures.
He started by researching the top 10 places to live in the world, but he knew there were issues with crime, politics, and weather in some of these areas.
Portugal is the 3rd safest place to live in the world next to New Zealand (expensive) and Iceland (not tropical enough) with a good medical system, great food, and a better qualify of life.
I met a Canadian who lives on fixed pension of C$1,800 per month and she has C$200 left over at the end of the month. She realizes that she would be homeless in Vancouver.
The cost of living is affordable where you can get €1.00 beer and €1.99 is an expensive bottle of wine.
TAX PLANNING FOR EMIGRANTS
More Canadians left Canada between 2017-2022 and explains why the Ontario government doubled the number for skilled immigrants.
Take care to track your travel dates to avoid triggering a deemed disposition of your assets.
The amount of time you stay outside of Canada affects your residency status, your taxes payable, Old Age Security, and Canada Pension Plan payments.
Check your Province’s medical care coverage outside of Canada.
Things to know if you are planning to leave Canada either permanently or temporarily.
This CPA summarizes the tax consequences of leaving Canada for you.
GOLDEN VISA: ENDING OR NOT?
On February 16, 2023 the Portugal government announced the cancellation of the Golden Visa program that allowed non-EU citizens permanent residency.
Portugal is having a housing crisis as foreign buyers increase prices for local buyers, then leave the properties vacant or use for AirBNB purposes.
The minimum wage was raised this year to €822 per month making home ownership difficult for the locals, and the reason why most rent apartments.
However, on March 24, 2023, an update was issued that the Portugal government is not legally able to make changes to the Golden Visa program. They propose that the cancellation of the program be amended so non-EU owners must reside as primary homeowners or list as long-term rentals.
INTERNATIONAL CITIZEN
If you are researching places to live outside of Canada, some of you may be aware of Nomad Capitalist Andrew Henderson.
However, do your due diligence just as you would in selecting a real estate investment to avoid unanticipated surprises.
The disgruntled client obviously didn’t read the fine print nor do I think he was really qualified to ask someone like Nomad Capital for advice.
I can do my own $10,000 worth of research instead of outsourcing it.
Or, perhaps instead of moving somewhere just because, start your online research first and get connected.
The best way to find out if you like living somewhere is to move there for a few months.
Here are 10 places deemed the best places to retire by the World Economic Forum and Conde Nast. FYI: they did not include crime statistics
WHY INVEST IN REAL ESTATE?
TAX ADVANTAGES
Investing in real estate comes with tax benefits. You can deduct several expenses associated with owning an investment property, including your property taxes, mortgage interest, property management fees, property insurance, the costs of ongoing maintenance, the cost of repairs and the money you pay to market your property to potential renters. If you sell your property for more than you paid for it, the gain you realized won’t be taxed as income. Instead, it will be taxed as capital gains, which typically come with lower tax rates than does income. If you invest in opportunity zones – neighborhoods that are in need of investment – you’ll pay even less in capital gains.
About July Ono.
JulyOno.com is a real estate investment company. We have been actively involved in the Lower Mainland area real estate investing for a number of years. Our mission is to provide local housing and commercial workspace to quality tenants while at the same time providing an above average return on investment (R.O.I.) for our investor partners and for ourselves. It is truly a win-win-win way of investing!
July offers her investor partners hands-free investment opportunities. If you are interested to learn how to earn an above-average return on your investment, backed by a solid asset, and without the hassle of being a landlord, please contact July Ono.
For more information about July and her investment program, please call (604) 830-2438 and email her at july@julyono.com or visit https://julyono.com/
