The Challenges and Rewards of Sustainable Development

The following notes were originally prepared for a panel entitled “The Challenges and Rewards of Sustainable Development” at the OPPLive! Property Show at London’s ExCeL on 23rd October, 2009, chaired by Gordon Miller of www.whatgreenhome.com.

What is sustainability?

Here are some commonly used definitions:

Sustainability, in a broad sense, is the capacity to endure. In ecology, the word describes how biological systems remain diverse and productive over time. For humans it is the potential for long-term maintenance of wellbeing, which in turn depends on the wellbeing of the natural world and the responsible use of natural resources.

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Algarve Property Market Snapshot – October ‘09

One thing is clear: the desire to own an overseas property is as strong as ever. Statistics of people browsing overseas property websites are on the up, and, with the demise of “emerging markets”, interest in the Algarve, as a safe, well-established market with a strong tourism infrastructure and planning controls, is greater than ever. However, over the past year, with the financial crisis and sterling languishing against the euro, actual buyers have been thin on the ground.

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New Banco de Portugal rules concerning some offshore companies

With effect from 17th September, 2009, Portuguese financial institutions and branches in Portugal have been prohibited by the Bank of Portugal from extending credit to entities in so-called tax havens considered un-cooperative or whose ultimate beneficiary is unknown.

The Bank of Portugal considers a tax haven as a jurisdiction that “aims to attract a significant volume of business with non-residents, particularly due to the existence of less stringent procedures for obtaining authorization under the banking and supervisory regime in respect of banking secrecy, tax advantages, differentiating in the law between residents and non-residents or enabling the setting up of special purpose vehicles.”

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