The particularities of buying in Portugal

You want

buy in old

? As in France, location, the environment and its evolution and the intrinsic quality of the property are the most important points.

For a

purchase in the nine

, it is essential to ensure that the good and the

a presented

of the

“Licença de Utilizaçao”, the

construction licence issued by the town hall.

Then, reservation of the property, signature of a private contract, passage to the notary … In Portugal the process of buying a real estate is similar to what is happening in France.

To start, you will have to sign a “Contracto de Promessa de Compra e Venda” equivalent to a sales compromise

. Legal document setting the conditions of sale, it is a contract under private seing. It is therefore recommended that the signatures be recognised by a notary . The latter merely authenticate signatures and financial settlement between seller and buyer, we advise you to call on a legal representative such as a lawyer or a specialized company. Urbanism, charges related to property, verification of occupation of a building land… This expert will collect all the information from the Property Register and the Town Hall. will also ensure that taxes and other co-ownership charges t up to date.

Don’t forget that you must obtain a tax ID from the Portuguese FISC. In case you don’t have an address in the country yet, you will need a representative: lawyer, accountant or trustworthy knowledge.

Step two, you will sign the sales contract, called “Escritura de Compra e Venda” 3 to 4 weeks after the sales compromise

.

Following the signature of this bill of sale, the municipal tax called IMT “Imposto Municipal sobre Transmissões” and the “Imposto de Selo” IS will be charged to you, payable to the tax office nearest to your property.

To finish

, you will sign “

Sales Writer a “to a notary

. He is will ensure the legality of the transaction and will register you as owner in the national registry.

Remember that if you intend to rent your property, you will be subject to the income tax in Portugal.