There are few countries where it is so easy to invest in real estate as Portugal. The country is a popular holiday and retirement destination and has also gained interest from digital nomads and expats over the last few years. This guide will explain if foreigners can buy property in Portugal and in which ways they can do so.
Can a foreigner buy property in Portugal?
Yes, foreigners can buy property in Portugal. In fact, the Portuguese government is supporting foreign real estate investment by making buying property as easy as possible. There are no restrictions for foreigners wanting to buy property in Portugal, making non-residents buy property the same way Portuguese residents can.
Pitfalls when buying property in Portugal
Owning property in Portugal doesn’t mean you are a Portugal resident. You even can not spend more time in the country. For that, non-EU residents can apply for residency through the Golden Visa program. The Portuguese government introduces this visa program to let foreigners obtain residency by buying real estate in Portugal.
Golden Visa in Portugal – What is it, and how to obtain a residency permit?
The Golden Visa program offers foreign property owners (from a non-EU country) in Portugal a residency permit. This permit allows non-EU citizens to live, work, study in Portugal, and travel freely across the Schengen area. After five years, the visa owner can apply for permanent residency or Portuguese citizenship.
How to buy property in Portugal?
Beneath, we explain step-by-step how to buy property in Portugal as a foreigner.
Step 1: Obtain a Portuguese Tax Number (NIF)
Foreigners who want to buy real estate in Portugal must first acquire a Portuguese Tax Number (NIF). You can obtain this number at any government finance office. Here you read more about obtaining a NIF.
Step 2: Find the right property
The real estate offer in Portugal is large. That’s why you will find a lot of land for sale and villas for sale in Portugal. It is easy to buy abandoned land in Portugal as well. But finding the right property or land that meets your wishes and expectations might be challenging.
There are several ways to find a property in Portugal that meets your wishes. To make this process go as smoothly as possible, it is best to work with a real estate agent called imobiliaria in Portuguese. Always check if the agency has a license number from the Portuguese Association of Real Estate Agents (Associacao de Mediadores Imobiliarios).
Step 3: Sign the contracts
You need a notary witness to sign the real estate sales contract. The buyer usually pays the notary fee (unless otherwise agreed). You need the following documents:
- Passport from both parties
- Contrato-Promessa De Compra e Venda (CPCV)
- Property’s energy certificate
- Caderneta Predial (land register)
- Imposto de Selo (stamp payment)
Step 4: Apply for Golden Visa
After buying the property, non-EU residents can apply for residency through the Golden Visa program.
Frequently Asked Questions (FAQs)
Can I live in Portugal if I buy property?
You can live in Portugal if you buy property because Portugal offers a special Golden Visa program that lets foreigners reside in Portugal after buying property.
Is it difficult to buy property in Portugal?
It’s not difficult to buy property in Portugal as there are no restrictions for non-residents. You can obtain a residency visa after buying property.
Is buying property in Portugal a good investment?
Buying property in Portugal can be a good investment as real estate prices are low compared to other Western European cities. The Portuguese housing market steadily grew over the last couple of years, which makes it interesting for foreign investors.
How to buy property in Portugal as a foreigner?
First, you need to obtain a Portuguese Tax Number (NIF). After that, you pay and sign the contract at a notary’s office. Non-EU residents can apply for residency through the Golden Visa program after buying the property.
Can US citizens buy property in Portugal?
US citizens can buy property in Portugal, as there are no restrictions for non-EU residents. US citizens can apply for Portuguese residency through the Golden Visa program after buying property.
Can the British buy property in Portugal?
British people can buy property in Portugal. There are no restrictions for British and other non-EU residents to buy property in Portugal. After buying property, British people can apply for residency through the Golden Visa program.