Use this calculator to work out the real costs of a bond in Portugal.
Complete the red boxes:
These are all charges you need to be aware of — we can help if you’re unclear on the costs.
The industry benchmark is an idea of average commission costs, shown for reference.
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Same Apex Portugal bond. Same wrapper. Same underlying funds available. Only the adviser fee differs — and that difference compounds over the term.
Highlighted rows show where the adviser earns. The platform fee is the same regardless of who you use. The fund fee varies by portfolio choice and isn’t directly paid to the adviser — but commission-driven advisers typically steer clients into in-house or actively-managed funds with higher OCFs that generate kickback revenue.
The Portuguese-compliant bond's selling point is the tax break: 28% on gains under 5 years, 22.4% at 5–8 years, just 11.2% after 8 years. But fees compound too. So the question: does the bond actually beat a simple bank deposit, after both fees and tax?
The platform fee (0.30%) is the same regardless of who you use, so it's not shown here. This table shows only the fees that flow to the adviser firm — and how those compound over the term.
| Year | Arthur Browns portfolio value | Fee paid to Arthur Browns | Other adviser portfolio value | Fee paid to other adviser | Other fund fee* |
|---|
Highlighted columns show fees attributable to the adviser firm. Fee paid to other adviser = the 1% (or whatever you set) ongoing adviser fee. Other fund fee* = the 0.75% (or whatever you set) underlying fund OCF — this isn't always paid directly to the adviser, but in commission-driven shops the adviser typically steers the client into in-house or actively managed funds that generate kickback revenue.
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Book a free review → or email matthew@arthurbrowns.co.ukAbout this calculator. Compares the all-in cost of a Portuguese-compliant bond placed via Arthur Browns vs an alternative fee model. Both columns use the same Apex (Portugal) wrapper (Establishment Charge 0.048% one-off, Ongoing PMC 0.30% per year). The differences are: the adviser fee, and the underlying fund choice. Arthur Browns recommends low-cost passive funds (typically 0.10–0.22% OCF). Many commission-driven advisers steer clients into in-house or actively managed funds with OCFs of 0.75–0.90%. Industry benchmark assumes 7% upfront commission, 1% ongoing trail, 0.75% fund OCF.
Dealing charges (£25.65 per transaction), payment charges (£25 per fund purchase) and early discontinuance penalties are not modelled — assumes client holds to term. Admin fee shown in £; Apex (Portugal) actually denominates this as €700 (~£600) and only applies if Adjusted Total Premium is below €500,000.
Tax-adjusted comparison. Applies the Portuguese effective tax rate to the bond gain at maturity (28% if held under 5 years, 22.4% at 5–8 years, 11.2% at 8+ years), defaulted from the term you set. Bank deposit assumes interest is taxed annually at 28% (the Portuguese resident IRS withholding rate on bank interest). Direct ETF holdings outside a bond wrapper would be taxed at 28% on disposal (or 19.6% effective if held 8+ years thanks to the listed-securities exclusion) — not modelled separately here.
Illustrative tool only. Not a regulated financial promotion or personal recommendation. Tax rules and product charges may change.
Please note. These illustrations are not guaranteed and are only for initial comparison purposes. For detailed quotes, please contact us directly.