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The cost of buying your property
The costs of buying a property will very much depend on the purcahse price and even if the property is wholy or only part agricultural.
In each case there are payable
1. The equivalent to stamp duty - IMT (see the secton on Stamp Duty for a detailed calcualtion)
2. Land Regsitry and Notary fees
3. Legal Fees
4. Fiscal Represntation fees, if you are non resident
You should also consider haveing a survey of the property and the removal costs as well as the cost of funishing the property.
If you are intersted in any of the properties listed on this website, please contact us and we shall be pleased to send you a estimate of the costs involved.
Taxes
This information is for guidance only and in each case you should consult with your solicitor or Lita Gale Solicitors for a "without compromise" introduction to the legal process of buying and selling property in Portugal as well as renting and bulding your own property.
Rates
There will be paybale the equivalent to Rates. The amount payable is calcualted by reference to the registerd value of a property.
Income Tax
This is payable on any rental income after deducting teh usual expenses that may be decucted from teh rental income.
Capital Gains Tax
This is payable on the sale of the property by reference to the purcahse price and the sale price or the registered value and the sale price whichever is the lowest.
There may be deductibel any improvements works and legal expenses and in some cases the purcahse price can be updated by reference to the equivalent to the inflation rate.
Non residents of Portugal pay tax at the rate of 25%.
Inheritance Tax
Payable on death and in some instances not at all or at a much lower rate than that payable in the UK or exempted.
Unique Legal Services
We ensure that title to every property is vetted by our experienced legal team.
We will be happy to provide you with a Legal Guide to Property and Taxation in Portugal
Wills
Making a will should always be considered and you should discuss this and the issues of becoming resident adn domiciled in another country with your representatives such as Lita gale Solicitors who have experience in these areas which can in certain cases become complicated.
Stamp Duty Rates
Please find below a tabel setting out how the the equivalent to Stamp Duty ( Property Transfer Tax), IMT is calcualted for non residents in Portugal
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