Portugal, one of the world’s most ancient nations, is experiencing extensive and dynamic changes. From the fifteenth to the seventeenth century, Portuguese discoveries were responsible for important advances in technology, nautical sciences, cartography, astronomy and ship building. Five centuries later, Portugal is writing new pages of its history.
Our country is the homeland of companies that develop some of the finest technologies that are impacting our world. But our profile also goes beyond innovation. It is also made of recognition that some of the best traditional products have Portugal as a birthplace. For example, Portuguese wine brands and olive oil brands are among the best in the world.
Portugal is also a safe country with great logistic infrastructures, advanced communication systems, and a friendly economic environment. These are some of the reasons why many world leading companies are choosing Portugal to invest.
Furthermore, Portugal is not only a good country to invest but also a most desirable place to live. A place to visit and enjoy. You can find here a safe, environmentally responsible, with privileged nature, rich leisure and culture and with high quality healthcare facilities. Portugal is blessed by abundant sunlight and warm temperatures that, certainly, makes you feel motivated and productive.
Must know when buying a house in Portugal?
The acquisition of property in Portugal, because it is subject to the payment of taxes, requires that you register with the Tax Authorities to obtain the corresponding taxpayer identification number.
Residents abroad, as well as those who, although resident in Portuguese territory, leave for more than six months, should appoint a representative residing in Portuguese territory for tax purposes.
If you are a resident or if you are leaving for a member state of the European Union or the European Economic Area, the designation of this representative is merely optional.
The place of residence for tax purposes is the place of habitual residence or, in the case of citizens resident abroad, the place of residence for tax purposes corresponds to that of the tax representative.
In order to finalise the purchase of your house, you must submit various documents that identify the property and that confirm the legitimacy of the owner and the buyer:
1. Land Registry Certificate (Certidão do Registo Predial)
The information made available by the land registry tells you about the composition of a certain building, the legitimacy of the person intending to sell the property and the types of encumbrance that may affect it (mortgages, collateral, etc).
The land registry certificate may be requested in the following ways, in hard copy or in digital format:
In person, at any land registry office (Conservatória do Registo Predial) - this entity holds full descriptions of properties.
It is possible to request a permanent land record certificate and simplified land information through the Predial Online website.
2. Title Certificate (Caderneta Predial)
This document may be requested from any tax office. It contains information about the property's tax situation and can be used to find out which entity is responsible for meeting fiscal obligations related to the property.
Property owners can get the title certificates for their properties from the tax authority website.
A title search of an article in the land registry may be requested instead of a title certificate (this is only valid for one year).
3. Usage License (Licença de Utilização)
The purpose of the Usage License is to certify the intended use of the property, and that it is suitable for its licensed purpose. This license must be requested from the City Council of the district where the property is located. However, proof of the license request may be submitted along with the purchase agreement if the license is yet to be issued.
4. Housing Technical Datasheet (Ficha Técnica de Habitação)
The Housing Technical Datasheet is a document that describes the main technical and functional characteristics of a property. It must be requested directly from the City Council of the district where the property is located.
How to setup a company in Portugal?
To setup a foreign company in Portugal is important to have an overview of the investment environment in Portugal. Portuguese law offers several different investment options both for individual and shared investments, as stated here.
Additionally you can find here a comprehensive guide about how to register and establish a company in Portugal, by clicking on "Empresa Online".
For further information about how to setup a company and related to business development you may consider:
Trade & Investment Agency (AICEP): LINK
Still have questions? Reach out and a member of our team will get back to you ASAP.
LEGAL and TAX DISCLAIMER: Each person or company that reads the information presented, agrees that is their own responsibility for consulting their own legal and tax advisor as to the tax consequences associated with their options and decisions. Both legal and tax rules governing options are complex, change frequently and depend on the individual/corporate tax situation.
PBS shall not be held liable or responsible for making third party information available to you and any tax or financial consequences that any person or corporate may incur in connection with the information made available.