Process of Buying a House in Cascais, Portugal: Guide for Foreigners

Cascais has become an increasingly popular destination for foreign buyers looking to invest in real estate. The city offers a number of advantages, including a favorable tax regime, a strong rental market, and a high quality of life.

The process of buying a property in Portugal as a foreigner is relatively straightforward. However, there are a few key steps that you need to follow in order to ensure a smooth transaction.

1. Get a Portuguese Tax Number (NIF)

The first step to purchase a property in Portugal is to obtain a Portuguese tax number (“Número de contribuinte” NIF) which can be obtained at the local tax office "Finanças" while you wait. You will need to provide proof of your identity as well as proof of address to apply for one. This fiscal number will also be needed to open a Portuguese bank account and for connecting water, electricity, telephone, etc. How to Get the NIF

Foreigners living outside the European Union, in Norway, Iceland and Liechtenstein.  only apply for NIF through a tax representative. A person with Portugal residency or citizenship can become a tax representative for a foreigner – this could be a lawyer, accountant, or a foreigner friend. The tax representative should be present when the foreigner submit their documents.

Buyers will need to provide, as identification, either of: Portuguese Citizen card, or a Passport and Portuguese tax number

2. Open a Portuguese Bank Account

You will also need to open a Portuguese bank account in order to make the purchase of your property. This can be done at any Portuguese bank.

3. Find a Property

Once you have your NIF and bank account, you can start looking for a property to buy. There are a number of different ways to find properties for sale in Cascais, but in RE/MAX Cidadela, since 2004, we provide our clients with a 360º integrated consultancy service to support them right up to the day of the deed, providing an excellent buying experience:

-Financial consultancy with our credit intermediary who will present various financing solutions in order to find the best option for the buyer.

-Administrative and procedural advice.

-Real estate consultancy, because we know the closing price of properties in each area and we have a lot of experience in negotiating, as well as tools to help us do so.

Best Neighboorhoods and Prices in Cascais

-Legal advice from our lawyer who will prepare the Promissory Contract of Purchase and Sale, safeguarding your interests and supporting you until the day of the deed.

  4. Make an Offer

When you have found a property in that you are interested in, you can make an offer to the seller. The offer should be in writing and should include the following information:

• The purchase price
• The terms of payment
• The closing date

 5. Sign the Purchase Contract

If the seller accepts your offer, you will need to sign  the Promissory Contract of Purchase and Sale (CPCV) and pay a deposit, typically 10% or more of the purchase price to secure your chosen property..

 6. Pay the property Taxes and legal fees

Once the purchase contract has been signed, you will need to pay the transfer tax. This tax is calculated on the purchase price of the property.

More Info about Taxes and Expenses

 7. Register the Property: The Deed

The final step is to register the property in your name. This will ensure that you have legal ownership of the property.

The deed to the house is the final step in completing the purchase of a property. It is at this stage that the deal agreed in the CPCV is finalised.

On that day, the buyer will have to hand over a bank cheque for the remaining amount agreed, and the owner will hand over the keys of the property

Tips for Financing

Before embarking on the journey of buying a house, it´s essential to assess your financial situation and explore your financing option plan to take out a mortgage, research various Portuguese banks to find the best interest rates and terms that suit your needs. At RE/MAX, we offer the free services of our credit intermediary, Maxfinance, who can help you find the best financing option among different banks.

Ready to start your adventure in Cascais? Contact RE/MAX Cidadela today.
Avenida 25 de Abril 722, C-9, Cascais or Avenida 25  de Abril 890, Cascais,
+351 214826710,    ppettermann@remax.pt

Discover your perfect home with RE/MAX Cidadela. Download our property buying guide and get expert guidance:  GUIDE FOR BUYERS
RE/MAX Cidadela: Your key to a life by the sea in Cascais since 2004

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By Pedro Pettermann and Sol deAlós

Brokers at RE/MAX Cidadela in Cascais and Lisbon since 2004

Making dreams come true: Over 4,500 families have found their perfect homes with our team

RE/MAX CIDADELA

A RE/MAX CIDADELA é uma agência de referência internacional com mais de 30 agentes. Desde o ano 2004 a trabalhar na linha de Cascais, Lisboa e Sintra. Todos os anos estamos entre as melhores 30 agências, numa rede com mais de 400 agências em Portugal, sendo vários anos premiados como a Best Single Office em Cascais e Oeiras. Mais de 4.500 clientes já compraram ou venderam o seu imóvel com a RE/MAX CIDADELA