Frequently asked Questions

Frequently asked Questions - Portugal
What types of real estate property can be purchased by a foreigner?

Portuguese law does not provide for any restrictions on the purchase of real estate by foreigners.

Can a foreigner get a mortgage to buy property?

Yes, a foreigner can apply for a real estate loan on favourable terms.

Do I need to open a Portuguese bank account to buy real estate?

Opening a bank account is mandatory only if the buyer purchases property with a mortgage. 

As a foreigner who wants to purchase real estate, do I need to contact a realtor and/or lawyer?

There is no law that requires buyers to contact realtors and/or lawyers. However, it is recommended to use realtor services, because the country has a very complex process of registration of documents. It is worth noting that the operations of real estate agencies are strictly controlled.

Can I close a real estate transaction remotely?

Yes, you can. In order to do this, you need to issue a power of attorney to a lawyer or realtor. 

What language should be used in documents to be submitted for registration of the purchase and sale agreement?

All documentation required for the transaction must be translated into Portuguese. 

What are the additional expenses of buying a property in Portugal?

In addition to paying for the property itself, the buyer also needs to pay a property transfer tax, land purchase tax, stamp duty, realtor and/or lawyer services, notary services.
 

Can I rent out real estate?

Yes, foreign citizens can rent out real estate.

Can I get a residence permit, permanent residence or citizenship in exchange for buying real estate?

Yes. In Portugal, there is a program «Golden Visa», which implies obtaining of a residence permit for the purchase of property (the price of which has to be no less than 280 thousand euros). To learn more about the program, follow the link https://realting.com/news/about-getting-a-golden-visa-in-portugal.

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