ARE YOU THINKING OF BUYING IN PORTUGAL?

If so, there are some important facts you need to consider before you can start enjoying the sunny beaches, the warm weather and the lifestyle of this country by the sea.

SEARCHING FOR THE PERFECT PROPERTY TO LIVE IN OR TO INVEST

The best investment solution requires a deep knowledge of the market.

 

We guide private investors in the purchase and sale of real estate investments and advise our clients on the composition of their portfolio.

 

We are also specialists of the Portuguese Golden Visa and Non Habitual Residency (NHR) programs. Are you looking for a second home, for holidays?

 

Are you moving permanently to Portugal? Are you looking for a property to invest in or to live in?

HERE IS A BRIEF SUMMARY OF THE BUYING PROCESS

ONCE YOU HAVE CHOSEN YOUR PROPERTY

HERE IS A BRIEF SUMMARY OF THE BUYING PROCESS

ONCE YOU HAVE CHOSEN YOUR PROPERTY

HERE IS A BRIEF SUMMARY OF THE BUYING PROCESS

ONCE YOU HAVE CHOSEN YOUR PROPERTY

THE RESERVATION

It is customary to make a deposit – between €5,000 and €10,000 – to commit to the property. This acts as a Reservation of the property. Very important is that buyer and seller both agree on all points beforehand, and everyone is aware of what is included on the price.

 

The deposit is fully re-fundable and is made to the lawyer’s account, not the vendor.

THE PROPERTY WILL BE TAKEN OFF THE MARKET FOR A PERIOD OF 2 TO 4 WEEKS IN ORDER TO GIVE TIME TO FOR THE LAWYERS TO PREPARE ALL THE DOCUMENTS AND PERFORM A DUE DILIGENCE.

THE PROPERTY WILL BE TAKEN OFF THE MARKET FOR A PERIOD OF 2 TO 4 WEEKS IN ORDER TO GIVE TIME TO FOR THE LAWYERS TO PREPARE ALL THE DOCUMENTS AND PERFORM A DUE DILIGENCE.

PROMISSORY CONTRACT OF PURCHASE AND SALE

This is a legal binding document, signed by both parties – or by those representing them, through power of attorney – stating all conditions of the transaction.

 

This contract will establish the terms for the transaction, stating:

The agreed buying/selling price

Payment

Conditions

Payment Conditions

Buyer and Seller information and personal details

Exact date of exchange of property ownership

Additional Terms

(like what’s included in the purchase: furniture, reparations, memberships)

ON THE SIGNING OF PROMISSORY CONTRACT OF SALE AND PURCHASE, THE BUYER WILL HAVE TO PAY AN AGREED DEPOSIT OF  NORMALLY 30% OF THE PRICE, HAVING THE RESERVATION FEE ALREADY PAID.

ON THE SIGNING OF PROMISSORY CONTRACT OF SALE AND PURCHASE, THE BUYER WILL HAVE TO PAY AN AGREED DEPOSIT OF  NORMALLY 30% OF THE PRICE, HAVING THE RESERVATION FEE ALREADY PAID.

ON THE SIGNING OF PROMISSORY CONTRACT OF SALE AND PURCHASE, THE BUYER WILL HAVE TO PAY AN AGREED DEPOSIT OF  NORMALLY 30% OF THE PRICE, HAVING THE RESERVATION FEE ALREADY PAID.

ON THE SIGNING OF PROMISSORY CONTRACT OF SALE AND PURCHASE, THE BUYER WILL HAVE TO PAY AN AGREED DEPOSIT OF  NORMALLY 30% OF THE PRICE, HAVING THE RESERVATION FEE ALREADY PAID.

THE PUBLIC DEED

The signing of the Public Deed is the sole act where property ownership is transferred from seller to buyer.

 

The date of the deed is usually confirmed at the reservation or promissory stage.

 

It must be signed in front of a Portuguese Notary who will in turn, check that all due diligence has been made, all documents are in order and ensure that all related Purchase Taxes (IMT) have been paid.

 

Certified copies of the deed and documents will be issued by the Notary office to each party, and it will serve as official proof of transaction, and proof of payment of the agreed price.

 

The final step is to register you, the new owner of the property, into the Land Registry (Registo Predial), after which you can start enjoying your new property in Portugal.

The signing of the Public Deed is the sole act where property ownership is transferred from seller to buyer.

 

The date of the deed is usually confirmed at the reservation or promissory stage.

 

It must be signed in front of a Portuguese Notary who will in turn, check that all due diligence has been made, all documents are in order and ensure that all related Purchase Taxes (IMT) have been paid.

 

Certified copies of the deed and documents will be issued by the Notary office to each party, and it will serve as official proof of transaction, and proof of payment of the agreed price.

 

The final step is to register you, the new owner of the property, into the Land Registry (Registo Predial), after which you can start enjoying your new property in Portugal.

The signing of the Public Deed is the sole act where property ownership is transferred from seller to buyer.

 

The date of the deed is usually confirmed at the reservation or promissory stage.

 

It must be signed in front of a Portuguese Notary who will in turn, check that all due diligence has been made, all documents are in order and ensure that all related Purchase Taxes (IMT) have been paid.

 

Certified copies of the deed and documents will be issued by the Notary office to each party, and it will serve as official proof of transaction, and proof of payment of the agreed price.

 

The final step is to register you, the new owner of the property, into the Land Registry (Registo Predial), after which you can start enjoying your new property in Portugal.

LAWYER FEES

It’s recommended that you hire a lawyer/solicitor so that he may take care of all the paperwork involved. Fees may vary, depending on amount of work, type of property and stage of construction.

BEFORE  BUYING

A PROPERTY

NOTARY FEE

Notary and Land Registry fees may vary between 1.5% and 2% of total value of the property.

PURCHASE TAX

(IMT:Imposto Municipal sobre Transmissôes Onerosas de Imóveis)

Directly related to the property value, it can range from 0% to 8% of the property declared value and is paid by the buyer.

STAMP DUTY

applicable to all transactions and set at 0.8%.

THE PROCESS

THE PROCESS

PROMISSORY CONTRACT

PROMISSORY CONTRACT

RESERVATION

RESERVATION

TITLE DEED SIGNING

TITLE DEED SIGNING

TERMS AND CONDITIONS

OF AGREEMENT

TERMS AND CONDITIONS

OF AGREEMENT

MINIMUM STAY IN PT

MINIMUM STAY IN PT

DEPOSIT

DUE DILIGENCE

DEPOSIT

DUE DILIGENCE

OBTAINING A FISCAL NUMBER IN PORTUGAL

OBTAINING A FISCAL NUMBER IN PORTUGAL

Non-residents in Portugal need a Fiscal Number (Número de Identificação Fiscal) from the local tax office. To obtain your Fiscal Number, you will need a valid passport and a valid address, either in Portugal or in your home country.

 

If you’re a non-European Union resident, you'll require a fiscal representative in Portugal.

DISCLAIMER: THIS INFORMATION SERVES MERELY AS GUIDANCE ON THE PROCESS OF BUYING A PROPERTY IN PORTUGAL, AND THE COSTS ASSOCIATED WITH THE PURCHASE, AND SHOULD NOT  BE SEEN AS LEGAL ADVICE OR BINDING. PLEASE ALWAYS CHECK THE LASTEST LEGAR REQUIREMENTS  AND SEEK LOCAL LEGAL COUNSEL.

DISCLAIMER: THIS INFORMATION SERVES MERELY AS GUIDANCE ON THE PROCESS OF BUYING A PROPERTY IN PORTUGAL, AND THE COSTS ASSOCIATED WITH THE PURCHASE, AND SHOULD NOT  BE SEEN AS LEGAL ADVICE OR BINDING. PLEASE ALWAYS CHECK THE LASTEST LEGAR REQUIREMENTS  AND SEEK LOCAL LEGAL COUNSEL.

EBOOK

THE PORTUGUESE GOLDEN VISA PROGRAM IS ONE OF THE MOST ATTRACTIVE RESIDENCY PROGRAMS FOR WORLDWIDE INVESTORS

The best investment solution requires a thorough knowledge of the market.

We advise private investors in buying and selling real estate investments and advise our clients on the composition of their portfolio.

Are you looking for a property to invest or live in?

The best investment solution requires a thorough knowledge of the market.

 

We advise private investors in buying and selling real estate investments and advise our clients on the composition of their portfolio.

 

Are you looking for a property to invest or live in?

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