Before buying a house or moving to Portugal the things you need to know

There are many advantages to buying a house in Portugal, the obvious pleasure of living in a country where you can find unspoiled beaches, charming villages and sunshine practically all year round, is magnified by political stability and one of the lowest costs of living in Europe which delivers a higher quality of life. Rising numbers of British citizens are choosing Portugal as their European country of choice in which to buy a second home, work remotely or retire to.

Giambrrone & Partners’ English-speaking real estate team has a wealth of experience in assisting our clients to buy a property in Portugal. The process of property purchase in Portugal differs from that in the United Kingdom but with expert legal advice by your side, it will be achieved without any difficulties. Giambrone & Partners will be exhibiting at the popular A Place in the Sun Manchester event on 3-5 March 2023 at Manchester Central. If you are considering buying your first overseas property, or just want to relocate for a change of scenery, you will be able to speak directly to our specialist property and immigration lawyers and learn all you need to know about moving to Portugal.

Rute Lourenço, an Associate in the Porto office, commented “there are no restrictions imposed on a buyer who is a non-EU citizen in Portugal. The purchase process in Portugal is one of the most reliable in Europe.” Rute further pointed out “provided a buyer has first-rate legal advice from English-speaking lawyers, who will smooth out any problematic issues and ensure that all aspects of the purchase are known to the buyer, the transaction will be sound”

Once you have found a property you would like to buy you must apply for a Numero de Identificação (NIF) which is required to identify you for tax purposes and other issues such as opening a bank account. There are various ways that a purchaser can hold the property from:

• Freehold purchase, a straightforward purchase of the freehold delivering full ownership to the buyer and the capacity to enjoy or dispose of the property.
• Surface right, provides a right to build and maintain a building, with the right to enjoy and use the building, on a third party's land. Surface rights can be created for a defined period of time or can be perpetual.
• Usufruct, the right to use and enjoy a third party's property for up to 30 years or the death of the person benefiting from it.
• Right of use, is the right to use a third party's property.

Giambrone & Partners’ real estate lawyers can assist you with the documentation required for your purchase which establishes your identity, marital status, tax status and help with the verification required to establish the validity. Our expert lawyers will review the information from the Land Registry that establishes the seller has the right to sell, and that there are no debts, mortgages or other financial obstructions or other impediments against the property. 

Once all the due diligence has been satisfactorily completed the purchase can proceed and the contract can be signed. You will require the services of a Notary who is responsible for overseeing the contract and executing the Transfer of ownership via a public deed. There is no express format for sales and purchase agreements in Portugal and the agreement can be drafted in accordance with the wishes of the buyer and seller. The agreement is then executed as a public deed or an authenticated private document and registered at the Land Registry.

Immigration

In order to live in Portugal, there is an array of visas to choose from. Our well-regarded immigration lawyers can guide and advise you on all aspects of your application, providing a full hand-holding service and ensuring each stage of the process is diligently prepared. If you are planning to retire to Portugal, the D7 Visa is the most appropriate and most popular. Demonstration of passive income, ideally pension, but can also include rental, dividends and even savings, to a minimum of €8,460 per year will financially qualify you. Your spouse, children and even parents, can also join you. This provides a viable path for permanent residency or even citizenship after only five years.

Recently introduced was the highly anticipated Digital Nomad Visa, or D8, which has opened the doors to many remote workers, those who are self-employed or freelancers to work in the warmth of the Portuguese sun. This Visa is aimed at foreigners planning to work in Portugal for as little as six months and will allow those eligible to reside and work in the country without having to become tax-paying residents. Provided you are able to demonstrate financial means of at least €2,820 per month, this new visa facilitates those who wish to live in Portugal longer than 90 days, but less than one year and is a suitable fit for those who wish to try out Portugal for a short time, without committing to becoming a long-term resident.

Although each visa has varying qualifying financial requirements, the remaining elements are very similar. As a general guideline, you must ensure that you;

• Have proof of financial means
• Have a clear criminal record
• Have full coverage health insurance
• Obtain accommodation for the intended length of your stay

These documents must be accredited and legalised either by an Apostille or via the Portuguese Embassy. Your application can then be submitted and, once approved, you will receive your visa allowing you entry into Portugal, after which you will then attend an allocated appointment to obtain your residency card.

The Portuguese government has just announced the proposed withdrawal of the popular Golden Visa scheme. However, until such time as this has been enacted there is still time to apply for a Golden Visa via its many categories. There are a number of other visas enabling a foreign national to work or study in Portugal. Giambrone’s lawyers can assist you with both a purchase of a property and with an application for every type of visa.

Rute Lourenço specialises in several areas such as immigration; including nationality applications and an extensive range of visas such as the Golden Visa scheme where her considerable real estate experience is also utilised. Her expertise extends in more than one direction as Rute additionally provides valuable guidance and insight in corporate and commercial non-contentious matters and has extensive experience in drafting complex cross-border contracts, providing protective clauses that offer the maximum safeguards for our clients. 

If you are planning to relocate to Portugal or buy a property there please contact Rute’s clerk, Bruno Diniz Bruno.Diniz@giambronelaw.com or please click here. To buy your tickets to A Place in the Sun Manchester click here.