More Information, All the fine print
You can find information on this page about the purchase procedure and costs involved, as well as details on mortgages, currency transfer, lawyers, bank accounts and the cost of living in Portugal.
If you have any questions or concerns either at the beginning of your journey or at any point throughout please feel free to get in touch for clarification.
Purchase Procedure
Step one is finding a property that suits your requirements, but that is just the beginning! We will be there to assist you through the whole buying process. This may be somewhat different to how you would buy a property in other countries so have a look at the list below which shows you step-by-step, how to go about buying a property from start to finish –
- Decide on the property you would like to buy.
- Put in an offer. Normally offers will need to be put in writing, but this can often be by email to save time.
- An offer may be accepted or rejected, but more often the seller will return with a counter offer.
- A price is agreed and we can move forward with the purchase.
- If you don’t have a Portuguese tax number then this is the time to apply for one (we can assist with this)
- A promissory contract will be written by a lawyer stating the details of the property, the price agreed, the amount of deposit which will be paid and the date by which the final deed will be signed.
- Deposit amounts are normally 10% but may increase to 20% for lower priced properties.
- The date by which the deed will be signed may be as little as one month, if you are buying in cash, or around three months if you applying for a mortgage. If you or the seller require more time to complete the sale and purchse then this can be negotiated. The deed can be signed any time before the end date so if sellers and buyers are both ready for the sale to go through earlier then an earlier date may be booked with the Notary.
- The promissory contract will be signed by both the sellers and the buyers and the deposit will be paid, normally directly to the seller.
- The deed will be booked with the Notary for a date before the end of the contract.
- The Notary will receive and check all of the documentation for the property, to confirm that the sale can take place.
- On the day of the deed the sellers and buyers will go to the Notary’s office to sign.
- Purchase taxes and stamp duty will need to be paid on the day of the deed (or the day before), either at the tax office or through the Notary (please get in touch for estimates of purchase taxes)
- You will also need to pay the Notary for the deed and registration costs (we can also supply an estimate of these costs if requested)
- The notary will read the deed and a verbal translation will be done, either by the Notary, or by a lawyer.
- The deed will be signed by the sellers, the buyers and the notary, the cheque will be paid to the sellers and the keys will be given to the buyers, the house then belongs to its new owner!
- You will be given a copy of the deed to take away with you, the original stays in the Notary’s office in case you ever need another copy.
- After the deed has been signed the Notary will register the property in the new owner’s name with the land registry and tax office.
- We will assist you or your lawyer with the transfer of utility contracts into the name of the new owner.
Please go to our requirements form to request more in-depth information on purchase fees and taxes, or if you have any other questions.
Residency
If you are buying a property in Portugal and would like to apply for residency, there are several options available. Even though residency as an EU citizen is the easiest to obtain, residency for non-EU nationals may be simpler and cheaper than you think. The most popular visa and residency options are listed below, click the link at the end if you have any more questions.
As an EU citizen you will generally have the automatic right to become a Portuguese resident.
In order to apply your first 5 year temporary residency card, you will need a deed of purchase or long-term rental contract.
Applications are made at the town hall of the municipality where your property is located. There is a nominal cost of around 15€. After 5 years of temporary residency an application can be made for permenant residency (which is only renewed once every 10 years) or citizenship.
In order to apply for permanent residency or citizenship, you must have lived permanently in Portugal during the five years of your temporary residency.
This is the cheapest option for non-EU citizens who wish to reside in the country.
You are eligible for D7 residency if you have a pension or passive income from your home country (e.g. from property rental, investments or remote work) with a value of at least portuguese minimum wage (820€ from January 2024) If applying with a spouse the second applicant only needs half of that value.
The D7 visa application must be made at the Portuguese consulate in your home country, you will need to provide documents proving your pension or income, a criminal record report and full health cover. D7 residency is then applied for once you arrive in Portugal. You will need a deed of purchase or long-term rental contract to apply for the residency permit, though this may be for a property which you already own or rent in Portugal (for example if you already own a holiday home, or if you think it may take several trips to Portugal to find your ideal property, in which case you can apply for the visa after reserving or buying your property)
The D7 gives 5 years of temporary residency, after which an application can be made for permanent residency (which is only renewed once every 10 years) or citizenship.
In order to apply for permanent residency or citizenship, you must have lived permanently in Portugal during the five years of your temporary visa.
If you are interested in residing in Portugal but you don’t want to purchase property or enter into a long-term rental agreement, you may be eligible for a Digital Nomad visa.
Introduced in 2022, this visa allows remote workers to live as legal residents in Portugal providing they have an income (from outside of Portugal) of at least four times the national minimum wage; that amounts to 3,280€ per month in 2024 (820€ per month minimum wage). Applicants will need to provide proof of income, a criminal record report and proof of full health insurance.
You can apply for a short-term visa of up to one year or a long-term visa which can be renewed for up to five years, after which time you are eligble to apply for permanent residency or citizenship.
In order to apply for permanent residency or citizenship, you must have lived permanently in Portugal throughout the five years of your Digital Nomad visa.
As from October 2023, Golden Visas are no longer available through the purchase of property in Portugal.
However, there are still options for investment in business or donations for scientific research or cultural heritage. Please get in touch if you’d like more information.
You can apply for citizenship by naturalisation if you have lived in Portugal legally for 5 continuous years.
You will need to prove that you have a sufficient grasp of the language by taking an authorised A2 Portuguese test or by attending a certified course.
You will also need to provide criminal record reports from Portugal and your home country.
Citizenship can also be obtained through marriage or Portuguese relatives, please get in touch if you need more information.
It is advisable to get up to date legal advice before committing to any path regarding residency, please get in touch if you have any questions or if you would like to be put in touch with specialist lawyers.
Visiting Portugal
Portugal is part of the Schengen zone which covers most of the countries in the EU. The rules for entering Portugal are therefore the same as for entering any EU country.
Visitors from the EU Schengen zone may enter Portugal with no special provisions.
Visitors from countries which do not require a visa for short stays may come to Portugal for 90 days out of 180. Your passport must have been issued in the past 10 years at the time of entering the Schengen zone. Legally, you’re also required to have at least three months left on your passport at the time you plan on exiting the Schengen zone.
As from 2024 visitors to Portugal from outside of the Schengen zone who do not require a visa will be obliged to fill in an ETIAS form online, the permit will be valid for three years and will allow multiple entries and exits for stays of no more than 90 days in 180 (as per current rules) This will include visitors from Ireland and Cyprus which are part of the EU but not the Schengen zone.
More information about the ETIAS requirements can be found here – https://travel-europe.europa.eu/
Check if you need a visa for visiting Portugal here – https://www.schengenvisainfo.com/who-needs-schengen-visa/
To stay in Portugal for a longer term or to move to the country you will need to consider a long term visa or residency, see above for more information.
Further Information
Mortgages
Mortgages of up to 70% are now widely available to non-Portuguese nationals. We work closely with mortgage brokers who can compare rates from different banks to find you the most favourable options and present all information to you in English.
It can be costly to rely on your bank’s exchange rate when moving money into and out of the Eurozone. Currency transfer companies offer a cheaper and often faster way to move your money. We can give you recommendations on request.
If you are looking to buy a holiday home in a warm and friendly country, Portugal has no restrictions on foreign nationals buying property, you can stay for up to 90 days out of 180. If you would prefer to stay longer take a look at the section on residency above.
Click the boxes below for more details on other services we can help you with.
For more in-depth information on any of the topics please follow this link to fill in our requirements form.
