Portugal

Yes, Portugal has no restrictions on foreigners buying property. Whether you’re an EU or non-EU citizen, the process is straightforward, though non-EU citizens may need to appoint a tax representative in Portugal.

Yes, all foreigners need a NIF (Número de Identificação Fiscal), which is a tax identification number, to purchase property. This can be obtained from a local tax office or through a lawyer.

• The key costs include:
  • Property Transfer Tax (IMT): Ranges from 2% to 8% depending on the value of the property.
  • Stamp Duty: 0.8% of the property value.
  • Notary and registration fees: Around 1% of the property price.

Yes, Portuguese banks offer mortgages to foreigners. Non-residents can typically borrow 65-75% of the property’s value, while residents may secure up to 80-90% with favorable terms depending on credit history.

The minimum deposit usually ranges from 10% to 30% of the property’s price, depending on the bank and your residency status. A promissory contract is often signed during this phase.

The CPCV (Contrato Promessa de Compra e Venda) is a promissory contract signed after the deposit is paid. It outlines the terms of the sale and legally binds both parties to the agreement.

Yes, purchasing property worth €500,000 or more may qualify you for the Golden Visa, granting residency and visa-free access to the Schengen Zone, a significant advantage for non-EU buyers.

The buying process typically takes 2-3 months, depending on legal and financial requirements, especially if you’re applying for a mortgage.

Property owners pay an annual Municipal Property Tax (IMI), ranging from 0.3% to 0.8% of the property’s taxable value, depending on the location.

Yes, renting out property is a popular investment strategy in Portugal, especially for short-term rentals in tourist areas, offering attractive rental yields.