Why Invest?
A member-country of the European Union since 1986. Portugal currently enjoys a steady economic growth. For centuries, Portugal has kept the greatest treasure of a renowned reputation for hospitality that makes the country a haven of friendliness and safety.
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Market Report
We forecast that Portugal seems to be very strong for investment. Prices have risen and are set to continue rising leading to greater investment opportunities.
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Economic Overview
A considerable part of continental Portugal is dedicated to agriculture, although it does not represent most of the economy. The south has developed an extensive monoculture of cereals and olive trees and the Douro Valley in vineyards.
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Visa/Residency Issues
To get into Portugal you may need a passport or a visa, depending on the country you live in and the reason why you are visiting Portugal (tourism, work or study purposes). Citizens from the European Community don't need a visa for entering Portugal.
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Getting to Portugal
Approximate flight time from London to Lisbon is 2 hours 30 minutes. Located in the nothern edge of the city, Lisbon's Airport (Aeroporto da Portela) is the main international connection.
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Fees & Taxes
- If you employ a surveyor to inspect a building or plot of land, the fee will depend on the type of survey, any special requirements and the value of the property.
- A real estate transfer tax is payable in Portugal on the transfer of real estate.
- In most cases, VAT in Portugal is 21%.
- Portugal Inheritance and gift tax was abolished on 1.1.2004, when relating to close relatives, parents, spouses and children.
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Portugal |
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Basic Information
| Population |
10,495,000 |
| Languages |
Portuguese |
| Area |
35,672 sq mi |
| Currency |
Euro |
| Dialing Code |
+351 |
| Emergency Services |
112 |
Portugal Overview
Modern Portugal contains enough World Heritage Sites and other natural and cultural wonders to keep any visitor busy for a long, long time. It is a country of astonishing beauty and diversity, not to mention clear blue skies and friendly, courteous people.
Average Property Prices
Coming soon.......
Buying Process
- Property purchase in Portugal is a regulated process.
- Once a price has been agreed both buyer and seller sign a preliminary contract, usually a Contrato de Promess de Compra e Vende.
- This document will specify all terms and conditions pertaining to the property transaction.
- A deposit of between 10 – 30 percent is required at this preliminary stage.
- If the buyer defaults, he loses the deposit. If the seller defaults on the contract, he will have to refund the equal of double the deposit paid by the purchaser.
- A Government official (Notario) is responsible for the legalities of the purchase itself and acts on behalf of both the buyer and seller.
- The buyer will have to apply for a fiscal number, (numero fiscal de contribuente), the equivalent of a UK national insurance number, from the local tax office.
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