- Flexibility to suit many specific needs from inheritance planning to asset protection
- Cross-border expertise for tax-efficient relocation
- Stability and security of a policy issued by a Luxembourg insurer
- Dedicated legal and tax experts designing compliant and customised solutions for the Portuguese market
A life assurance solution specifically designed for both private individuals and companies who are resident in Portugal. The product is fully compliant with Portugal tax and legal requirements, has numerous features that sophisticated clients usually demand, and is designed to facilitate relocation, especially within Europe.
This dynamic product can offer cross-border flexibility and the unique security of a contract issued from Luxembourg. Moreover, contracts can be tailored to provide portability if individuals relocate between various jurisdictions during their lifetime. In this sense, the dedicated team of experts of OneLife can offer technical assistance in ensuring that the contract is fully adapted to the legal and tax requirements of the destination jurisdiction.
Policyholders will be able to access a flexible and wide range of underlying assets, including external investment funds and internal collective funds, as well as dedicated funds that offer discretionary management according to the policyholder’s personal objectives. In addition, the policyholder will be able to choose amongst multiple asset managers / investment strategies and / or different custodian banks.
Another interesting feature is that clients may withdraw a portion of their original investment if needed under a tax attractive regime. Indeed, with regards to taxation, the unique treatment of unit-linked life insurance in Portugal provides an extremely broad scope for inheritance and tax planning. For death claims, life insurance benefits are tax-free, not being subject to either income tax or stamp duty in Portugal. In the case of surrenders requested by policyholders, the taxation is as well rather attractive: if at least 35% of the total premiums are paid in the first half of the policy lifetime, either one-fifth or three-fifths of the income (i.e. not the capital invested) will be excluded from the taxable base whenever the surrender takes place after fifth or eight year of the contract holding period, leading to an effective taxation of 22,4% (after the fifth year) and 11,2% (after the eight year).
Last but not least, investors with eligible investable wealth and risk profile may invest in alternative and unlisted assets.
At OneLife, we offer comprehensive solutions for wealth management including the acceptance of unlisted assets, supported by Luxembourg’s insurance regulation that allows a large range of underlying investments in internal funds.
For many wealthy individuals, a significant part of their total wealth comprises unlisted assets which can be categorised into shares, debt instruments (including Securitisation vehicles), as well as Private Equity funds and Real Estate in multiple jurisdictions.
Our specialised Unlisted Assets Team has extensive experience in this sector and is able to manage these types of assets taking into account various aspects such as valuation, legal, compliance, governance, etc.
We ensure that the proposed solution is best suited to our client’s needs.
The Unlisted Assets Team also performs on-going monitoring and due diligence of the assets to ensure the investments remain compliant and suitable over time. This includes reviewing the price of the asset in accordance with market conditions and any changes within the unlisted company.
Contact our Portuguese team