Buy property in Portugal
One way to get a residence is to buy a property, a house, an apartment. Buying a property in any other country requires a lot of information. Before taking any action, you should research the cities and regions of that country and consider the best place to buy property according to your needs and budget. Portugal is one of the European countries with a temperate climate, hospitable people and no racist spirit.
These conditions, in addition to other facilities, as well as the lower cost of living and housing purchase compared to the United States, Germany, etc., have attracted the attention of many people. Another privilege of Portugal is receiving a golden visa for buying a property in Portugal, the cost of which we will talk about later. This rate can be variable and contact our experts to avoid extra costs and waste of time.
Steps to buying a property in Portugal
Advising and sending an application regarding the purchase of property to the consultants of Address company
Signing a power of attorney contract with a Portuguese lawyer, signing a power of attorney at the Portuguese embassy along with the required documents, property pricing, economic code, opening a bank account, signing a property purchase contract, advance payment for a property purchase contract
Payment of property purchase tax by a lawyer - registry office
Types of investments to obtain a Portugal residence permit according to the purchase of the property
- Buy a property in Portugal worth at least € 500,000 In this option, the location of the property, the number of properties purchased and the type of property (commercial, residential, etc.) do not matter.
- Buy a property in Portugal worth at least € 400,000 Must be a property purchased in a sparsely populated area in Portugal.
- Buying an old property in Portugal that is over 30 years old, provided it is being renovated and the value of buying and renovating the property together is at least 350,000 €. The year 2022 It can also be done, contact the address for more information.
- Purchasing an old property in Portugal over 30 years old in the sparsely populated areas of Portugal, provided it is being renovated and the value of buying and renovating the property together is at least 280,000 €. (The number of this investment has changed in 2022.)
Property Purchase & Property Taxes
- Buying a property in Portugal involves additional costs, including taxes
- One-off transfer tax (“IMT”) and stamp duty (“IS”) on the purchase price or on the tax office valuation of the property, whichever the greater.
- Besides legal fees, the following taxes are payable by a property buyer: one-off transfer tax (“IMT”) and stamp duty (“IS”) on the purchase price or on the tax office valuation of the property, whichever the greater. The rate of stamp duty is 0.8% and that of the transfer tax varies according to the type, the use and the value of the property. Taking as an example residential property which is not to be used as one’s permanent home, the transfer tax rate is different.
- Notary fee and document registration fee
- Real estate agency fees
We are always by your side
Investors interested in investing and buying property in Portugal can find the best possible property suitable with their interest and budget with the help and advice of our expert partners in this field, in all stages from opening a bank account to transferring a document and more. Leave the necessary steps to us without any worries and enjoy buying property and living in this beautiful country and its benefits.