Everything you need to know before buying a property in Portugal
If your dream is to live abroad, Portugal could be the most ideal place for you. However, even before you begin your search, it is important to have all the necessary information about the process of purchasing a property there.
To assist you and make it easy for you to achieve your desires, this article contains essential information you will need.
In Portugal, there are no restrictions on owning property even if you are a foreigner. In fact, the purchasing process is pretty straight forward. If you want to buy a house in Portugal, you just need to get a qualified real estate agency.
This is a good starting point because their expertise in the industry will help them locate the properties that suit your needs, taste and style.
This way, you won’t be overwhelmed with so many properties to check. From the few properties, these professionals will show you, and you will likely get what you are looking for within a short time.
Why you should consider owning a property in Portugal
Portugal is among the most interesting locations in the world. It has a lot to offer right from excellent healthcare to accessibility.
This is a country that can offer an affordable living standard and an outstanding quality of life. If you are still not sure if Portugal is the place you need to call home, these 5 reasons might help you decide.
1. Low taxes
If you were to reside and pay taxes in Portugal, you will realize that it offers a very impressive deal to foreigners living there.
New arrivals are given special tax benefits through the country’s non-habitual resident (NHR) scheme which goes up for 10 years.
The scheme was introduced in 2009 and since then, it has offered a great financial incentive to people who have bought properties and decided to live there.
The scheme is also applicable to foreigners who are working in Portugal. It aims to attract more people to reside in Portugal.
For example, if you are not a resident but work there, you will pay a lower income rate. If you own a property there but live abroad and are entitled to receive pension or investment, the income will be tax-free.
Besides, you won’t be required to pay inheritance or gift taxes when passing on your wealth. This generous tax scheme is a good reason to consider Portugal as your new home.
2. A variety of lifestyles
Whether you are looking for some rural peace or fast-paced city life, Portugal is a country with it all. You will find high-tech hubs in Lisbon and the most exciting city life in Porto…
Continue reading the article about properties in Portugal on Daisy Linden’s blog.