Buy Portugal has been helping buyers from around the globe find their dream properties in the Portuguese sun for 12 years now.
In this time, we have learnt the ins and outs of the country and thoroughly understand both the country and the buying process.
In this article, we want to answer questions regarding buying property in Portugal as a non-Portuguese resident, so that you can get started searching for your own dream property straight away.
Fortunately, there are no extra requirements for non-Portuguese residents wanting to buy property in Portugal.
This means that the buying process is relatively simple and if you buy a property for over 500,000 euros, you could well be entitled to a ‘golden visa’ which awards you with a 5 year residency in Portugal.
There are several benefits for non-Portuguese residents seeking to buy in Portugal, if you would like to find out more about them, speak to the team at Buy Portugal today.
When it comes to buying a property in Portugal, the notary is essentially the middleman on behalf of the state. They will check the Land registry and Inland Revenue to ensure that the property can be legally sold and also check for any sort of restrictions.
Once this has been checked, you will sign the contracts with the seller which is also witnessed by the notary.
One of the most appealing things about Portugal to non Portuguese residents is the various tax breaks that are available for new residents.
If you have not lived in Portugal for the last five years, you may be eligible for the NHR tax break.
This scheme gives non Portuguese residents the ability to live tax free for up to ten years, this means no tax on income and personal wealth so pensions are also untaxed.
The Golden Visa Program in Portugal is a popular program with investors. An investment of €500,000 (or €350,000 reduced option) in property will allow investors to apply for the Golden Visa Program. The program offers five years of permanent residency for investors and their family.
Contact Buy Portugal Today for Further Help and Advice
For further help and advice regarding buying in Portugal as a non Portuguese resident contact Buy Portugal today.
Our team are here and ready to help you embark on your property journey, supplying you with knowledge from 12 years of experience in the Portuguese property market.
Contact us on UK telephone 01925 414422
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