From 2009 it’s possible to register (or to put a charge over) a property without having to go to the different departments (Finanças, notary, land registry), regardless of the location of the property.
Articles in the ‘Company News’ Category
According to the Law Nº 64/2008 (12-5-2008) the IMI of the top end has been reduced by 0,1%.
The Portuguese Agency, AICEP have published a document on the Portuguese Tax System in English. Download it here (PDF)
After many years of working at Quinta Properties Hannelore Singh has now retired. We thank her very much for all of her hard work and dedication and wish her all the best for the future. We will all miss her.
Buildings are being classified in accordance with their eco quality. This has already been initiated and is being carried out in various stages. It is foreseen that as from 1 January 2009 all buildings will need to have the energy certificate which will be required when selling your property.
VAT tax in Portugal was reduced by 1% from 21% to 20%.
The Tax department have confirmed that commission paid to an estate agent on the sale of the property is considered a deductible expense against capital gains tax (Mais Valia).
Despite much doom and gloom in the papers, its business as usual at Quinta Properties. Lower and middle markets are down a bit and there are perhaps fewer clients walking into our offices, but the buyers still come and they still want only the best property.
New law coming into effect in 2009 will allow other entities besides the Land Registrar and Notaries to carry out property registrations; Lawyers, Chambers of Commerce & Industry, and Solicitors will also be able to carry these out.
When buying a property in Portugal area, and especially one priced at over 1 million euros, you may well be confronted with the question as to whether to buy it in your own name, or to use a corporate structure.