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Taxes in Portugal
You 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.
Your solicitor can
arrange this for
you.
Once all conditions
as set out in the
original contract
have been met, the
final deed is drawn
up and signed by
both parties at
a public notary
office (the notario).
You must pay a transfer
tax called IMT (imposto
municipal sobre
transmissões
onerosas) before
the purchase goes
ahead.
0% to €80,000
2% - 6.5% thereafter
5% for land.
If the buyer is
in a low tax regime
the rate is 15%.
Autarquica - annual
municipal tax. The
rates are based
on valuations determined
by tax authorities
and as a general
rule are much lower
for older properties.
The rates are fixed
by each municipality
0.8% on land and
0.7% - 1.3% on buildings.
The notario will
witness the signing
of the final deed
and the “escritura”
is registered at
(Conservatória
do Registo Predial,
the local land registry
office, and at the
local tax office
(Repartição
de Finanças).
|
Lender |
Max
Loan |
Rate |
Bank
Fee |
Max
Term |
|
Barclays |
70% |
4.20% |
0.80%
max |
30years |
|
Banif |
80% |
4.25% |
565
€ |
25
years |
|
Millenium
BCP |
65% |
4.50% |
500
€ |
25
years |
|
|
