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If you
are unsure of any aspect relating to the purchase of a
property in Portugal, why not take a look at some of the
most common frequently asked questions on
gekkoportugal.com.
If you still can't find an answer,
please don't hesitate to ask, as the Gekkoportugal team
is always happy to help. You can
email your
questions to us at gekkoportugal.com. |
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1.
Can I make an offer on a property? |
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It is advisable to make offers on property's in Portugal
as you may find yourself with a property at a much lower
price. Each seller is individual and there is no telling
what personal circumstances he/she has. The registered estate agent
you use will be able to guide you and negotiate on your
behalf to secure you the best deal. |
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2.
What am I legally required to do before buying in
Portugal? |
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To purchase any property in Portugal you must have your
Fiscal Card (tax number). |
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3.
How much of a deposit do I give? |
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There is no legal minimum
or maximum percentage when paying a deposit on a
property in Portugal. However it is usual for you to be
asked for a 10% deposit. It is possible to negotiate
sometimes with the owner to pay either a slightly higher
or lesser amount. |
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4. What additional costs will there be? |
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in addition to the purchase
price of your property you will have to factor in
Notary and Registration fees are approximately 1.5% of
purchase price; IMT is up to 8% (depending on the type
of property and the purchase price); Lawyers and
surveyors fees, which are subject to agreement + VAT/IVA.
*read more
information on the
property buying process |
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5. Do I have to be present in Portugal to exchange
contracts and complete on my property purchase or can my
lawyer do this for me? |
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You can give your lawyer power of attorney to sign all
necessary documents on your behalf. The easiest way to
do this is while you're in Portugal making the initial
arrangements for your property purchase. It is possible
to arrange from the UK, but you will need to get the
document notarised by a public notary in the UK, and
then the document has to be formalised in the Portuguese
Embassy in London. |
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6. Will the property I buy in Portugal be freehold? |
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It will be Freehold as Leasehold doesn't exist in
Portuguese Property Law. |
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7. Can I get a Portuguese mortgage? |
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Many people who are looking to buy property in Portugal
think they will not be eligible for a Portuguese
mortgage and they are wrong. Most Portuguese banks offer
mortgages to foreign buyers which have a significantly
lower interest rate than the United Kingdom. Normally it
is possible as a foreign buyer to borrow up to 80% 75% of
the valuation of the property. |
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8. Do I have to use an estate agent when buying a
property in Portugal? |
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There is no legal
requirement for you to use the services of an estate
agent when you purchase a property in Portugal, though
you may find the whole process runs a little more
smoothly if you do. By using an estate agent you also
have 'come back' should anything go wrong during the
purchase. |
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9. Should I make a will covering my property in
Portugal? |
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Yes. If you own a property in Portugal, it is advisable
to make a will. There is no specifically named
Inheritance or Gift Tax in Portugal. However, gifts and
inheritances are subject to taxation and regulated in
the property transfer tax code. The level of tax payable
depends on the declared amount to be inherited as well
as on the inheritor's relationship with the deceased.
Please see the section on Inheritance Tax in our
Property Tax section |
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10.
Should I use a Portuguese
solicitor/lawyer? |
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At Gekkoportugal we recommend you use an independent
Portuguese lawyer to guide you through the purchasing
procedure as they have a thorough
understanding of Portuguese law. |
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11.
Can I receive my UK pensions and benefits
in Portugal? |
Yes. They can be paid
directly into your bank account. Details are available
from:
Pensions and Overseas Benefits Directorate, Room TC109,
Newcastle NE8 1BA (0191 218 7777). |
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12.
What is the cost of living in Portugal? |
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It is significantly cheaper to live in Portugal than in
the UK. Food, clothes and household items are cheapest,
but cars are more expensive than in the UK. |
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13.
Should we learn the language?
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If you intend to live in Portugal and make any headway
with the locals then, yes, without a doubt. Just as you
would appreciate your neighbours speaking English in the
UK, they will appreciate your grasp of Portuguese in
Portugal. |
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14.
Can I take my pet(s)?
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Yes. For more information telephone Pets Travel Scheme
08702 411710. |
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15. Am I eligible for healthcare?
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Yes and the system is surprisingly efficient (at least
for those of us used to the NHS). It is available to all
EU residents. For further information contact The
Department of Health Enquiry Line - 0207 210 4850. |
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16. Can I drive with my UK plates and
License? |
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If you are spending less than 183 days per year in
Portugal. If your car is left-hand drive you can
transfer to a Portuguese plate. Right-hand drive cars
can only transfer if the owner is a new resident. You
can drive on your license temporarily, for up to 6
months before you need a local one. |
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17.
Can I use British appliances?
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Voltage is 220-240v AC so you will need new plugs but
you won't need a transformer. Electrical goods are
cheaper in Portugal. |
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18.
Can I legally work in Portugal?
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You will need a Portuguese Tax and Social Security
number, but yes, you can. |
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19. What do I need to do if I want to live in
Portugal for good? |
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First you should find out at your local Embassy or
Consulate before you leave your home country if there
are any specific requirements. The Portuguese Embassy in
London is based at 3 Portland Place W1B 1HR (0207 291
3770). It is not necessary to have a Residence Card if
you want to live in Portugal but it makes life easier
when opening bank accounts and applying for loans. |
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20. Do I need to have a Fiscal
Representative? |
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Under Portuguese law, all non-Portuguese non-residents
who own a property in Portugal must appoint a fiscal
representative. This representative could be a
friend living in Portugal, a lawyer or the estate agent
you purchased through. |
