Love For Valencia + Moving To Portugal

September1

I LOVE Valencia Spain!

It is by far my favorite city. And, it is one of the first places that both Lindsey and I feel is “home”. It has amazing weather, amazing people, and a perfect blend of city, nature, and beach. Plus great biking!

It has been really hard to think about leaving the city and we’ve dealt with waves of grief/anger over the last couple of months :(. We do not want to leave… we would like to stay here long term.

We always knew we couldn’t stay in Valencia for more than 1 to 2 years because of Spain’s tax system. They have some taxes that are poorly designed and we would be paying 60% to 70% of our income in taxes. Which makes it impossible to live here. Spain has a very badly designed Patrimonio tax and because we are American we are stuck between the two systems. If you are not an American citizen it is pretty easy to avoid these taxes and pay much less, but as Americans, a lot of those options are not available to us given American regulations (waiting on the USA to switch to a territorial tax system like every other country in the World). The other option we had was to move to Madrid as it is the only region to void the tax, but we did not like Madrid.

Part of our trip last month was to scout locations around Europe and see what clicked. We were debating between Austria and Portugal… and Portugal won out based on weather/cost.

So… we are moving to Portugal :). We’ve been to Portugal several times and we are looking forward to finding our neighborhood and settling in. We hope is we can find a place we like as much as Valencia in the next couple of months.

We have hope that Spain will fix their system given the huge economic crisis. The current system makes startup/business investment near impossible and they need labor reforms to make it easier to hire people as employees. The current system punishes risk and pushes money into real estate where it won’t lose value but your returns are very low (how a lot of people avoid Patrimonio taxes if they don’t leave in Madrid).

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This is bwb’s personal blog so he can share his thoughts with the world, however scary or silly they might be. Plus family and friends can track what I am up too, and where I am in the world.

I am pretty simple. I love Mangos. I love the ocean, although mostly at sunset as I’m a ginger. I love to travel, eat exotic food, read, and use my imagination. I love creating and developing ideas into businesses, understanding how all businesses work, and building cool stuff. I am a globalist and see the entire world as my responsibility and playground. And, I am married to an amazing woman who makes life even more fun :)! And, we are now the proud parents of Calico Jack :).


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