Typical costs involved in a property purchase in Portugal are as follows:
Local Land Registry Search – As shown above, it is advisable that this search is carried out prior to signature of the Promissory Contract. The fees charged by the local Conservatória amount to £15.00 although they may vary depending on the description of the property lodged with the Land Registry.
Transfer Tax (“IMT”) – IMT is a one-off tax payment which must be made at any local Tax Office prior to execution of the Title Deed before the local Notary. The amount to be paid is directly related to the price of the property and the table below shows how this tax is assessed:
PURCHASE PRICE (all amounts in Euro) % of Tax Deduction
|Up to 81.600,00€ Exempt|
|81.600€ – 112.200€||2%||1.632€|
|153.000€ – 255.000€||7%||8.058€|
|255.000€ – 510.000€||8%||10.608€|
|More than 510.000€||6%|
The following is an example on how to assess the amount of IMT to be paid on a €100.000 property:
€100.000 x 2% = €2.000 - €1.632 = €368 (IMT to be paid)
NIF – In accordance to Portuguese law, you will be required to obtain a NIF number to complete the transaction. We will be obtaining a NIF on your behalf and the fees charged by the Tax Office are €5,93 per NIF issued.
NIF number (Portuguese property process) - Portuguese Tax Identification Number.
Powers of Attorney (POA) – Please note that the transaction will have to be completed before the Portuguese authorities. Should the purchaser be unable to attend in person, it is possible for him to grant a POA authorizing a Lawyer to complete the transaction on his behalf.
Land Registry Fees – The Land Registry charges 0.5% of the purchase price.
Notary fees – The Notary charges 1.5% of the purchase price for drafting and witnessing the execution of the title deed.
Contact us for further information or if you would like to talk with: