Many people are hesitant of buying property in a foreign country and especially in a country that they do not know well. Some see Portugal as a bureaucratic country and if you do not know it, you might also think that you could get cheated. Others have questions about the favourable tax rules in Portugal for foreigners moving there.
Many real estate agents/consultants and advisors argue that Portugal is a rather tricky market with many pitfalls to fall into and that you will need extensive advice from both lawyers and tax experts in order to buy a property in Portugal. We say the opposite: the buying process is actually quite easy, from the first property visit, through to payment and moving into the new home. The only thing you really need is a skilled, local real estate agent whom you can really trust – a person who can also guide you to other skilled people, if needed.
We can reassure you. Buying property in Portugal is easy and fairly non-bureaucratic!
Once you have found what you are looking for and you have negotiated a price that the seller accepts, the next main steps are the following:
You need a local real estate agent whom you can trust
1. Register for a NIF number (Portuguese tax number) and open a bank account in Portugal
2. Sign a Purchase and Sale Promissory Agreement
3. Sign a Provisional Registration (when applicable)
4. Make the IMT payment (property transaction tax) and the stamp duty
5. Sign the deed (sale and purchase agreement) at the Notary or the Register Office (Conservatória)
6. Final registration at the Notary or the Register Office (Conservatória)
(4, 5 & 6 are usually done during the same day)
For a complete guide to the Buying Process, please fill in the form below and the guide will be sent to you – free of charge.
Why did we start Portugal Agent? And how did we end up with the team we have? Both the local expertise as well as the team from Sweden?Read more about our story