The Process

The purchase of your property in the Algarve can be as easy as anywhere else In Europe if you seek the help of professionals. First and foremost the journey of your purchasing a property here in Portugal starts with your real estate agent who should be licensed by the Portuguese government and therefore carry what is called an AMI number.

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Taxes & Costs

When purchasing a property in Portugal, you have to pay tax and other expenses to complete the purchase. The amount varies depending on the property.

It is recommend you budget 10% of the purchase price although it is often less than this. When you reserve a property in Portugal you are given an exact breakdown of the costs, thus, enabling you to plan ahead.

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Types of property ownership

In Portugal there are a few types of ownership possibilities. The most common to own properties are;

1. The property is owned in personal name(s). This is the most common option in Portugal as the property is owned in individual name(s) as a freehold. The property is then easily transferrable to a new owner.
2. Owned by a white listed offshore company (Malta + Delaware)
3. Owned by a black listed offshore company
4. Owned by a Portuguese company, normally an LDA (limited company)

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Property sourcing

For those who are looking to buy a suitable holiday home or permanent residence in the Algarve they will know it is not always easy to find the right Algarve property and can be at most a time-consuming and frustrating task

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