Buying and selling property in Portugal
Imison & Co is experienced in providing services to both corporate clients and individuals regarding buying and selling property in Portugal. We provide the following services:
- Preliminary free initial consultation
- Promissory contract to buy and sell Contrato de Compra e Venda - at this stage the deposit is paid
- Completion contract (escritura de Compra e Venda)
Before signing the Contrato de Compra e Venda we carrying out the following searches:
Property Registration Certificate (Certidao de Teor)
We check that the seller owes the property and whether it is free of charges and encumbrances.
Property Tax document (Caderneta Perdial)
We check at the local tax office the current owner and their fiscal number and the description of the property's unique fiscal number.
License of Use (Licenca de Utilizacao)
We check that the approval for the purposes of the original building permission.
If you do not want to attend the closing meeting one of our associates can do so on your behalf by granting them a power of attorney. At this stage the purchaser must pay:
- the balance of the purchase money
- transfer tax (stamp duty) (Imposto de Sisa). This depends on the value of the property and ranges for the current year from 0% for properties under € 80,000 to 8% for properties from € 250,000 to € 500,000. Please ask our Portuguese department for further information.
We ensure that the escritura de Compra e Venda is registered at the land registry.
Buying through an offshore company:
No Sisa or inheritance tax is payable, but the Portuguese government has imposed a 5% Municipal tax on offshore held property except those properties registered in Malta or Delaware where normal advantages are currently maintained.
Please contact our Portuguese department for further assistance.