Interview: “A Smart Way to Pay Fewer Taxes — and Sleep Better at Night”

with Maximilian Wichels, Head of Sales, C1 Broker Portugal for ESA

.

.

.

.

ESA — Entdecken Sie Algarve, the leading lifestyle magazine for German-speaking expats in Portugal, recently interviewed Maximilian Wichels, Head of Sales at C1 Broker Portugal, to discuss how smart insurance and investment products can help expats save money, protect their future, and make the most of Portugal’s tax advantages.

In this exclusive feature, Maximilian explains how solutions like the Allianz PPR (Plano Poupança Reforma) — a secure, guaranteed capital savings plan — are empowering expats to reduce taxes while building long-term financial stability. He also shares how C1 Broker, an independent insurance and financial intermediary, supports foreigners in Portugal with Health Insurance, Home Insurance, Life Insurance, PPRs, and Unit-Linked Investment products.

If you’re an expat living in Portugal and wondering how to save taxes legally and safely, this interview offers practical insights and clear explanations — all from one of the country’s most trusted insurance experts.

👉 Below is an extract from the interview published by ESA Magazine (Entdecken Sie Algarve) — shared here for you to read.

.

.

ESA Interviewer: Maximilian, many Expats in Portugal tell us they love the sunshine, the culture, and the lifestyle — but when it comes to taxes and financial matters, they feel a bit lost. Do you hear that often?

Maximilian Wichels: (laughs) Every day! It’s probably the most common sentence I hear. People tell me, “In Germany I always knew what I could deduct, but here I feel blind.” And that’s totally understandable — the Portuguese system simply works differently.

At C1 Broker, we don’t do tax planning or accounting, but we do help our clients understand how insurance and savings products — like the PPR — fit within the Portuguese system in a smart, legal, and simple way. Once you see how the State actually rewards you for saving, it all becomes clear. Our role is to make those solutions transparent and safe, so expats can make confident decisions without stress.

.

.

ESA Interviewer: So, let’s talk about the PPR. What exactly is it?

Maximilian Wichels: The PPR, or Plano Poupança Reforma, is a long-term savings plan supported by the Portuguese State. It’s a clever combination of personal savings and government incentive. When you invest in a PPR, you can deduct up to 20% of the amount from your IRS declaration, depending on your age. On top of that, your money grows every year with a guaranteed return and capital protection.

It’s not a speculative product — it’s a solid, insurance-based savings plan that gives you both security and fiscal efficiency. In short: you save for your future, and the State thanks you for it.

.

.

ESA Interviewer: Many Germans are careful investors and prefer to avoid risk. How does the PPR fit that mindset?

Maximilian Wichels: Perfectly. Anyone with a “German-style” mindset — love structure, reliability, and logic, and the PPR delivers exactly that. The Allianz PPR guarantees your invested capital and a minimum interest rate every year. There are no market surprises, no volatility, no sleepless nights.

It’s also important to say that insurance products like PPRs or life savings plans are among the safest and smartest ways to invest your money. Keeping large amounts in a bank account earning almost zero interest might feel safe, but in reality, you’re losing value to inflation. A PPR keeps your money protected and growing — slowly, steadily, and safely.

.

.

ESA Interviewer: Some people think PPRs are “locked” until retirement. Is that true?

Maximilian Wichels: Not at all — that’s one of the biggest myths. While the PPR is designed for long-term savings, you can access your money in several life situations: if you buy a home, face illness, unemployment, or reach 60 years of age. In those cases, you can withdraw funds without penalties or tax consequences.

So, it’s not about locking money away — it’s about protecting it while keeping the flexibility to use it when life changes.

.

.

ESA Interviewer: Why is the end of the year such an important time to act?

Maximilian Wichels: Because the Portuguese fiscal year closes on December 31st. If you invest in a PPR before that date, you can already include it in your next IRS declaration and enjoy your tax deduction the following spring. If you wait until January, you lose a whole year of benefits. It’s like skipping a free bonus from the State.

That’s why, every November and December, we remind our clients: Now is the time to secure your fiscal advantage.

.

.

ESA Interviewer: What kind of amounts are we talking about?

Maximilian Wichels: You can start very small — from €25 per month or €250 as a single payment. To enjoy the full tax benefit, the ideal annual investment depends on your age:

• Under 35 years: invest €2,000 → get €400 back

• 35–50 years: invest €1,750 → get €350 back

• Over 50 years: invest €1,500 → get €300 back

That’s 20% of your investment coming right back to you — safely and transparently.

.

.

ESA Interviewer: C1 Broker is known for helping expats. What exactly do you offer?

Maximilian Wichels: We’re an independent insurance and financial protection broker dedicated to expats in Portugal. We help clients with Health Insurance, Home Insurance, Life Insurance, PPRs, and Unit-Linked Investment products. Our approach is to provide clear advice, ongoing support, and long-term security.

And we love working with Allianz, because they share our values — reliability, strength, and transparency. Allianz products are solid, well-regulated, and designed for people who want peace of mind, not financial stress.

.

.

ESA Interviewer: Who can benefit the most from a PPR?

Maximilian Wichels: Honestly, everyone who pays taxes in Portugal. Young professionals can start small and build a future; families can use it to reduce their IRS or even pay down a mortgage; and retirees or entrepreneurs can enjoy secure, guaranteed growth. For people with that German-style mindset — structured, cautious, and forward-thinking — it’s a perfect match: safe, sensible, and rewarding.

.

.

ESA Interviewer: And your final message for our readers?

Maximilian Wichels: Don’t be afraid of Portugal’s system — it can actually work in your favor. You don’t need to be a tax expert or a financial wizard to make a good decision. You just need to start.

At C1 Broker, we explain everything clearly — in English, German, or Portuguese — and guide you step by step. With the Allianz PPR, you’re not just saving for retirement; you’re gaining peace of mind, fiscal efficiency, and a safer financial future.

That’s what we call a truly smart investment.

.

Contact Mr. Maximilian Wichels today:

Mail: mw@c1broker.pt

Tel. (+351)  289 392 452

.

Legal note: This interview is an editorial piece providing information about a financial and insurance product. All details, conditions, and official documents related to this product are published clearly and transparently on our product page, together with all official information from Allianz. Please visit our product page to obtain the complete and up-to-date information before making any decision: https://c1brokers.pt/en/allianz-ppr-portugal-expat-tax-saving-plan/