How to buy a property in Portugal
Property Transfer Tax
Prior to the Final Deed, the property transfer tax (IMT) must be paid at the local Tax Office. This tax can constitute a major cost for the buyer, to get an idea of the values involved please check our IMT cost page.
This tax has to be paid at least three days prior to the signing of the Final Deed once the original proof of payment has to be presented to the Notary during the act of signing the final deed.
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.