A Complete Guide for UK Expats Moving to Portugal

Published on

March 11, 2025

A comprehensive guide for UK expats considering buying a property in Portugal.

Portugal has long been a favourite destination for UK expatriates, offering a harmonious blend of favourable climate, rich culture, and an appealing lifestyle. This comprehensive guide delves into the reasons behind this preference, highlights popular regions among UK expats, provides insights into the Portuguese property market, outlines essential steps for relocation, and details the property purchasing process, including associated costs.

Why Choose Portugal?

Several factors make Portugal an attractive destination for UK nationals:

Top Areas with UK Expat Communities

UK expatriates have established vibrant communities across various regions in Portugal:

Trends in the Portuguese Property Market

Obtaining a Portuguese Tax Number (NIF)

A Número de Identificação Fiscal (NIF) is essential for various transactions in Portugal, including property purchases and opening a bank account.

  1. Visit a Local Tax Office (Serviço de Finanças): Present your passport and proof of address.
  2. Appoint a Fiscal Representative: Non-EU residents may need a Portuguese fiscal representative.
  3. Online Services: Some companies can assist with obtaining an NIF remotely.

Key Professionals to Consult

The Property Buying Process in Portugal

  1. Property Search: Define your preferred location and property type. Use real estate agents, online property portals, and buyer’s agents to explore options.
  2. Making an Offer: Once you find a suitable property, submit a reasonable offer. Negotiations are common but should reflect market value.
  3. Legal Checks and Deposit: Upon offer acceptance, your lawyer will perform legal checks and review the contract. You’ll then pay a deposit (typically 10%) and sign the preliminary contract (Contrato de Promessa de Compra e Venda).
  4. Property Transfer Tax and Stamp Duty: Settle the property transfer tax (Imposto Municipal sobre a Transmissão Onerosa de Imóveis - IMT) and stamp duty (Imposto de Selo).
  5. Property Survey and Due Diligence: Hire a surveyor to inspect the property. Your lawyer will use this survey to conduct legal due diligence.
  6. Completion of the Deed of Purchase: The final step involves signing the Escritura Pública de Compra e Venda in the presence of a notary. You’ll pay the remaining balance, receive the keys, and the notary will register the property in your name.

Costs and Fees Associated with Property Purchase

Service Fees:

Taxes:

Ongoing Costs:

Currency Transfer Costs

One key expense to consider when purchasing from overseas is the cost of transferring money into euros.

Final Thoughts

Portugal offers a wealth of opportunities for UK expats, whether you’re seeking a retirement haven, an investment property, or a fresh start in the sun. Understanding the buying process, legal requirements, and financial considerations will help you navigate your move with confidence.

For expert guidance on managing your currency transfers, get in touch with Send Money Overseas today and ensure your dream home in Portugal becomes a reality—without unnecessary costs!

info@sendmoney-overseas.com

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