Portugal, The Florida of Europe.

Brexit is something the EU did not want but it is a reality. So, what can we be expecting? Many have made predicaments of the fall of the EU when the United Kingdom chose to leave. It seems that maybe leaving is much harder than staying, for even ferocious defenders of “Brexit, like Mr. Ratcliffe, who campaigned for the leave in the run-up to the 2016 Brexit referendum, has recently confirmed a new 4x4 vehicle will be built in France. Sir Jim Ratcliffe was a vocal Brexiteer, loudly proclaiming the benefits of leaving the EU. Today, it seems, at least for Sir Ratcliffe, that the UK is not as nice a place to do business anymore. This explains why a large number of London-based corporations are touring Frankfurt, Paris, Amsterdam, Dublin, and even Luxembourg in search of better alternatives, thus proving that Brexit forms an immense opportunity for the rest of Europe. Let's see positives for the EU after Brexit . Size Size does matter when it comes to business. The European Union is the second-largest economic bloc globally. After the exit of the UK, the EU and its 27 remaining countries will have a GDP of $13.4 trillion. Now, let one not forget there are still others that might join the club of the 27. European single market What makes the world go round is not money. No, it is people who fuel economies. The European Single Market granted free movement of goods, capital, services, and people. If you compare Europe to other populated places like China and India, you will soon see that it is on the continent that the third-largest population exists. Qualified Citzens The EU citizens are highly educated and many speak many languages, and have a broad range of skill sets. They can work, live, and even retire in any EU country. Sea. If you talk about fishing, it is intricated the negotiations that are going on between the EU and the UK. One of the winning points for leaving was the control over British waters, more fishing rights for British boats. We will not dwell on this topic too much for it is something I know little of. Nevertheless, where Shipping is concerned many opportunities have arisen. Ships that have an EU flag will enjoy a deal struck with the Chinese Authorities, which reduces drastically the tariffs paid by Shipowners. Ships with a UK flag are not in the club for those benefits. True, UK and China might do a deal, but until that day arrives Shipowners can feel the brunt of not having the privilege of being within the EU. How should the European Union react to the decision of the UK to withdraw from the union? This is the question that has been at the center of the political debate in Europe since Brexit became a reality, but the EU has a lot of potential to continue its economic virtues and it can have an excellent trading partner like the UK.

The document that the Regional Government filed today in the Portuguese Parliament comes to provide momentum on the promise of the Regional Government of Madeira for gradual reduction of the IRC that will come down from the current 20% to 14.7%. The objective of such reduction is to boost the economy and help companies. This will push the Corporate Income Tax to one of the lowest in Europe and the rate of CIT will be lower than the Corporate Taxes practiced in the Netherlands, Italy, Germany, and France. Madeira is becoming a place to be taken seriously. So, investors who want to be in Europe where they can benefit from an excellent climate, peace, stable government, good schools, excellent health system, seasoned with incentives like the NHR, GV, ZFMI, Madeira is an excellent choice. Contact Brooklyn and Fennel to help assist you in incorporating your business in Madeira(Portugal).

"Brexit Refugees" This was an expression that I heard this week, and it dwelled on me to write this piece. True, we are not talking of refugees in the strict term of the word, but rather of those UK citizens who want to cling to Europe for what it is worth. Some British do feel that they will be displaced for remaining in the UK. Those who grew up in this project known as "The European Union" have to face reality that it will come to an end on 31 December of 2020. The ease of crossing borders was a milestone for us Europeans, but it may crumble, and the union was always a mirage of what it never was. This “non-union” is permanently present. The poorer countries continue to have their grievances while the richer countries feel that the imposed “piggyback” of the poorer states is unfair. For example, the price tag that Germany had to unify its west and east was enormous. It was a quarter of its budget in 2000. Despite all the efforts that were pushed by this project of trying to unify, Europeans had other problems. Take the struggles rooted in ethnic conflicts. EU members often disagreed on how to handel such conflicts and the more recent refugee crises show that not all think alike. National obstacles are the big "NO, NO" of the Union. Take sovereignty, this was one of the major pull out of “Europe" for Britain. But don´t be fooled, it is not only the UK that feels this way, for other member nations are not willing to let go of all their “power”. For example, the leader of one of EU member nations stated that his country was “born to be a leader of nations, not a follower.” With these type of remarks, smaller and less influential countries fear that in the long run, the stronger nations will call the shots harming their interests. All these roadblocks made a Brexit come to life, but not all feared the European project as something sinister. Ever since Brexit become a “thing”, the number of UK citizens that jumped ship rose to about 30%. OECD and Eurostar show that migration from Britain to the EU states averaged 56,832 people in the period between 2008 and 2015, but thunderbolted to 73,642 between 2016 and 2018. It is in these numbers that the term “Brexit Refugees” makes sense to me. See, if you compare the numbers, people like Daniel Auerer of WZB say: “These increases in number are of a magnitude that you would expect when a country is hit by a major or economic or political crisis”.Hence, If you begin to investigate what refugee means, you will quickly come to the assumption that the term loosely coined here is placed well. British Citizens are leaving in their thousands to “Europe”. The highly educated Brits are moving to warmer pastures like Spain, Greece, and Portugal and the void back home is becoming noticeable. Só where are the UK citizens “fleeing” to? Data shows that Spain has been hit pretty hard, where an estimated 380,000 British Nationals currently live. Portugal has seen its fair share in the rise of expats. But the numbers are more gruesome than I had imagined for they show us that the British who petitioned for an EU passport had an astronomical rise of 500%. Wait, it does not stop here, for, if you look at Germany the number 2,000% might seem unreal to only be confirmed by the data. For all you “Brexit Refugees”, flee to Europe for we still love you, however, a word of caution, do get good sound professional advice before you make the jump. Patrick

More than a hundred and twenty years ago, you did not need a passport for international travel. People went where they wanted, but, then again, travel was not as easy as it is now. We list here 5 reasons to have a second passport. 1 - Travel Our planet is a marvelous home, it has many wonders, and if the opportunity arises for us to travel and see other examples of earth’s wonders, well, why not? 2 – Taxes “Payback Caesar’s things to Caesar”. With a second passport, you may have the option to choose which “Cesar” you pay your “tribute”. Should it be to a “Cesar” stationed in North America or Europe? The second passport might provide you with this choice. 3 – Dual Nationality As a dual citizen, you can have the privilege to experience first-hand a different culture. 4 - No need to apply for a Visa All the bureaucracy that exists in applying for a visa can be skipped If you have a second passport. 5 – Security The world has become a more complicated place. There are problems that for now that can neither be avoided nor resolved. If things get unstable in your part of the world, the second passport can have you covered. So why have a second passport? it gives one freedom to travel, to see where they will pay taxes, or if needed escape to quieter shores if things get out of control back home Contact Brooklyn and Fenne l if you wish to know about immigration or how to obtain a Golden Visa or NHR.

Madeira is described as the Island of Eternal Spring. It has hundreds of days of sun per year. It has lush vegetation with a vibrant city(Funchal) that can be visited all year long. In the north, the valleys contain native trees of fine growth and lush vegetation known as the “Laurisilva”. UNESCO has designated it as World Heritage. Madeira Islands, were also named the best island destination in Europe for the seventh time in eight years by the World Travel Awards. So that speaks volumes of this European Island. Madeira Island Economy Madeira has a lot of tourism, which is to be expected being the gem that it is, however we would like to draw your attention to Madeira´s International Business Center. Madeira International Business Center (MIBC) was created the year that Portugal became a member state of the European Union. The tax benefits approved for Madeira would be considered state aid under EU law, and subject to approval by the European Commission The MIBC is regulated and supervised by the Regional Government of Madeira, the Portuguese Tax and Customs Authority, Portuguese Social Security System and the EU authorities. It is not an offshore nor is it blacklisted making it perfect for who wants to enjoy the excellent tax incentives. Under the current set of tax benefits applicable to the MIBC tax benefits, the applicable corporate income tax rate—known in Portugal as IRC—for licensed companies is 5% of taxable income. Since companies licensed in the MIBC are Portuguese companies for all legal purposes, they may qualify (under certain conditions) for the Portuguese-European participation exemption regime applicable to dividends and capital gains. Madeira Golden Visa Did you know that the Portuguese Passport is a powerful passport? Yes, in Top 6 Most Powerful Passport Index (Visa-Free Score of 185 countries). So, Madeira would be perfect if you are looking for an investment visa. Also Madeira has excellent economic and personal freedoms for Portugal surpasses France, Spain and Greece , according to the Cato Institute’s Human Freedom Index. Portugal is a peaceful country, and that is particulary true in Madeira. The latest Global Peace Index, published by the Institute for Economics and Peace, Portugal ranks on the Top 3 Peaceful Countries in the World. It beat the likes of Switzerland, Canada and Japan. Portugal achieves the Top 10 Best Countries to Retire in the world and Investopedia ranks it 2nd best country to retire in Europe. And thank God, up to the present, Portugal has never had a terrorist attack.

In 2020 we have been receiving queries from Americans who want to move abroad. No amazement here for the Google shows that the question on “how to move” was up in the ranks in the US. Well, maybe, you would think that the Americans would prefer Italy or maybe France. The answer is NO. Are you surprised? Many are, but a quick research on the matter shows Japan as a top choice for Americans. Why? “Its (Japan) reputation for high safety levels, job opportunities and heavily-praised quality of life that attracts many," Remitely said, a financial startup that helps people send money abroad. Now, Japan is not Portugal. That is obvious. But, keep on reading and see why Portugal should be an option for you as an American who is set on moving abroad. a) Safety One of the motives Americans forecast as Japan for a future move, was its reputation as a safe place. So how does Portugal fare in that chapter? According to the Global Peace Index provided by the Institute for Economics and Peace, Portugal ranks in 3rd place while Japan makes the top 10 coming in 9th. b) Quality of life Portugal was also ranked by “Expat Insider” as the 3rd best place for expats to live. The ease of settling in and the local quality of life were factors in the classification. According to “Expat Insider”, who provides the statistic, in Lisbon, almost “nine in ten expats (89%) say they are happy with the local leisure options (vs. 71% globally), the majority (54%) even very much so (vs. 31% globally)”. This prospect picks up when we talk about the climate, for (96%) of expats are satisfied with the local climate and weather (vs. 64%). The climate “card” is one that Canada and Northern Europe cannot challenge. Portugal has close to 300 days of sunshine a year, with mild temperatures in the double digits even during the coldest months, and if you go to the Portuguese Islands (Madeira and the Azores) the temperature are even nicer. c) Cost of Living Portugal is a budget destination, having a surprisingly affordable cost of living. It is an ideal place to either retire and take advantage of those 300 days of sun a year. Polls also show that Expats in Lisbon were not struggling with their finances. Nearly two in three (66%) are satisfied with their financial situation (vs. 61% globally). Now, that cost of living can even be better for those who take advantage of the Non-Habitual Residency Scheme. This regime was aimed to attract talent in high value-added activities and Ultra and High Net Worth Individuals (UHNWI’s) and their families to Portugal. By becoming Portuguese non-habitual residents, the UHNWI’s can accrue their wealth in a whitelisted friendly tax environment, to dispose of their assets benefiting from tax exemptions, to pass on their wealth or estate without inheritance or gift taxes, and/or to enjoy their retirement without tax leakage on their pensions. In conclusion, Portugal has major advantages for Americans who wish to move here. Good climate, great food, friendly people and excellent tax incentives is something you should ponder well. Let Brooklyn and Fennel help you in your transition. Contact us

Well, it can´t. The law is defined by a pre-determined set of rules, regulations, and norms that are implemented by governments founded on justice. Justice, on the other hand, is not a straightforward definition. The ideology of what righteous is changes in culture, nations, beliefs, and convictions. We all have that idea of justice as a blindfolded woman holding a sword and a pair of scales. Yes, it is pure symbolism, but, it holds to the concept that justice should be impartial, blind to wealth, and influence. Guilt or innocence is weighed on the scales and depending on how the scale tips, the sword comes into play by protecting the innocent and punishing the guilty. In places, where the law does not uphold, like Eritrea, it is bound to exist rampant injustice. This nation has one of the worst records in Human Rights. According to Human Watch on Human Rights state that Eritrea is “responsible for repeated serious rights violations.” One particular situation dates back to September 17 of 1994, where Paulos Eyasu, Issac Mogos, and Negede Teklemariam were jailed. What was their crime? Not wanting to participate in the military due to their religious convictions and, because of that, in the past 24 years, they have not been charged or given a day in court. We, humans, have the right to be heard, even if what we have to say is not relevant. Being denied a court day, nor having a conviction or a charge and still be imprisoned, is not the path to untangle and justify the "unruly" laws that are created by mere mortals. The Universal Declarations of Human Rights states: "Everyone that is charged with a penal offence has the right to be presumed innocent until proved guilty according to the law in a public trial". This is not what happens in Eritrea. Justice cannot prevail if the law is paralyzed.

What expats should know. Quickly addresses the Free Trade Zone of Madeira as a platform that can be worthwhile for investors.

SunStone Vessels has registered 14 cruise ships in the Madeira International Ship Register (MAR). The Madeira International Ship Register is now among the top 15 in the World and ranked 3 in the EU. Niels-Erik Lund, CEO of SunStone has also made it clear that he wishes to register 25 companies in the International Business Center of Madeira and that they will be recruiting personnel from next year on. Welcome to Madeira SunStone. If you would like to know how you can register your vessel, contact us for more information