Why rich Brazilians are scooping up property in Portugal

Brazilian multimillionaire Ricardo Bellino lived more than 10 years in Miami before relocating to Portugal, which has emerged as a haven for affluent Brazilians. Bellino, 53, who bought a home near Lisbon, will gain from a flat income-tax rate of 20 percent in Portugal, where he also may be eligible for a tax-free pension after he retires. He told Bloomberg his relocation to Portugal from Miami enabled him to reside in “a tax haven that …

SOURCE: The Real Deal New York – Read entire story here.