How to buy a property in Portugal
This must also be paid by the buyer on all deeds, contracts and financial transactions. This tax is levied on the value of each taxable deed or operation at a tax rate which varies according to the type of deed. For real property, this is assessed at 0.8%.
These are usually between 1% and 1.5% of the purchase price, plus IVA at 23% (the equivalent of VAT). We can of course recommend a lawyer to you.
To buy a property in Portugal you don't need to learn portuguese, but it maybe useful to know the name of the important documents and taxes.
- Certidão de Teor.
- Caderneta Predial.
- 1. Use a government licensed Estate Agent like Algarve Property Online agents.
- 2. Non-Residents, and Fiscal Representation.
- 3. Reservation Deal, to take the property off the market.
- 4. Collect all the documentation.
- 5. Promissory Contract, buyer and seller agree on the deal.
- 6. The property transfer tax should be paid.
- 7. Final Deed signed at the Notary’s
- 8. Registration in your name.
Owning a property in Portugal using an Corporate Ownership.