- Visit the country and select the region most suitable for your investment and goals; - Seek out a real estate agency, duly authorised, to provide you the right assistance from the initial enquiry to its completion; - Negotiating with the potential seller and make the property reservatio; - Selection, if needed, of an independent qualified lawyer who may advise and represent you during all the notarial, registration and tax deeds; - Organization and certification of all necessary documentation to the purchase and selling process (this step is performed by the estate agent or lawyer; - Opening bank account in Portugal; - If you need funding to purchase the property, you must select the bank and get the approval of the required loan; - Promissory Contract of Purchase and Sale signing; - Works’ license obtaining, if necessary; - Contract of Purchase and Sale signing; - Execute the property remodeling works (normally these works are performed only after the purchase signing); - Celebrate the acquisition your new property.
2) PROPERTY MAINTENANCE
- Hiring the electricity, water and gas services; - Insurance plan (compulsory and optional); - Recommend gardening services and other; - Decide who will be in charge of the property management or its lease management (if the property is intended to rental yield).
3) PORTUGAL STAY LEGALIZATION
- Visas for the whole family (procedures at the SEF, Municipality and Parish Councils); - Tax and Customs Authority and the Social Security Services registers; - Driving license equivalency requirement; - Imported car legalization (if applicable).
4) ENTRY REQUIREMENTS
Entry into Portugal by foreign citizens who are nationals of third states, is decided on based on the reason for their visit and the amount of time that they stay. For short stays, foreign citizens must meet the requirements of the Schengen rules. For long stays, of more than three months, the requirements of Portuguese legislation in force must be met.
If you intend to visit Portugal for the purpose of tourism, and you are a national of a country subject to a visa requirement for entry into the Schengen area, you must request a Schengen visa prior to your trip from an embassy or consulate in the area where you live, or from the embassy of a Schengen country representing Portugal for this purpose. Aside from tourism, the Schengen visa also allows entry to Portugal for foreign citizens travelling on business or for professional, family, scientific, cultural, sporting, political or religious reasons. All foreign citizens intending to remain in Portugal for a period of up to one year, or to establish their residence for more than one year, must request the respective long-stay visa – Temporary Stay or Residence - from the Portuguese embassy in their country of residence or from the Portuguese embassy with jurisdiction over their country of residence. Visas may be requested for the following purposes: investment, work (employed or independent), study, professional training, research, highly skilled work or teaching, religious training and medical recovery and treatment.
All nationals of European Union States (EU), states that are part of the European Economic Area (EEA), states with which the European Community have free travel agreements and nationals of third States who are family members of a Portuguese citizen or family members of EU or EEA citizens are excluded from long-stay visa procedures. The only requirements for these applicants is that they have to hold a Schengen visa, if applicable, upon arrival in Portugal and must register with the Foreigners and Borders Service in their area of residence.
5) RESIDENCE REQUIREMENTS
If you are a national of a European Union country, Iceland, Liechtenstein, Norway or Switzerland and you remain in Portugal for a period of more than three months, you must request a 'Registration Certificate' (Certificado de Registo) from the City Council of your area of residence. This document formalizes your right to reside in Portugal. After you have held a Registration Certificate for five consecutive years, you may request a Permanent 'Residence Certificate' (Certificado de Residência Permanente) from the 'Foreigners and Borders Service' (Serviço de Estrageiros e Fronteiras - SEF). Contact the SEF for more details about the requirements necessary for making this request. If you are a citizen of a third state (all other situations) and you wish to become resident in Portugal, you must hold a 'Residency Visa' that is suitable for the purpose of your stay. This visa allows you to enter in Portuguese territory for the purpose of requesting a residence permit from the 'Foreigners and Borders Service'. Notwithstanding any special legal provisions that may apply, the temporary residence permit is valid for a period of one year from the date on which the document is issued. It may be renewed for successive two year periods. After five years of temporary residence, holders of this document may request a permanent residency permit. Please note that you must make an appointment before going to one of the offices of the Foreigners and Borders Service, either over the phone or through its website.
6) BUYING A HOUSE
The acquisition of property in Portugal, 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 (UE) or the European Economic Area (EEA), 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.
MAXIDOMUS GROUP AND ITS SPECIALIZED PARTNERS, WILL ASSIST YOU IN ALL THIS PROCESS.