Because of the popularity of the Golden Visa Program in Portugal, there has been an influx of foreigners buying real estate and farmlands all over the country. Lucky for them, Portugal has one of the easiest paths to owning land in all of Europe, with the path for buying a property quite straightforward for foreigners.

You can purchase property in Portugal and if you qualify you can apply for residency and an eventual citizenship, or you can just enjoy your remaining years in a beautiful house next to the gorgeous Portuguese coastline.

Before we get into all the legal paperwork involved in purchasing property in Portugal, the first thing you have to decide is what part of the country you wish to live in. Do you want to live in a small colonial town? Do you want to live in the busy capital? Do you want to own a farm? Do you desire to see the beach every time you open the door to your house?

Some of the most popular regions foreigners are purchasing land in Portugal are; Algarve, Faro, Aljezur, Castelo Blanco, Coimbra, Santarem. Every one of these regions offers something unique and special, so please make sure to do your research before making a decision.

There are two types of options when it comes to buying property in Portugal, you can either purchase land in an urban area or a rustic area. The process of purchasing is the same, the difference between the cost of these two is a substantial amount.

For example, a house in a good neighborhood in Lisbon will cost you about €250,000 plus renovations and taxes. While farmland in a rustic area far from the city will most likely cost about €100,000.

You will be happy to know that you don’t need to fulfill any special requirements when you are purchasing property in Portugal. The only thing that is mandatory that you possess is a fiscal number or a Numero de Contribuinte.

Obtaining a fiscal number in Portugal is as easy as opening a local bank account or going to a tax office and applying for one. It is important to mention that to apply for a fiscal number in the country you must have all of your financial documents in order. You must also present a document showing that you are clear of any criminal records.

When you obtain your fiscal number the next thing you have to do is hire a notary to verify the whole sales process. We can recommend a good and trustworthy notary in Portugal to help you purchase property in the country.Besides financial records and bank statements you will also be asked to provide the following

documents; copy of your passport, sales contract of the real estate, documents stating the property is in good standing, a copy of the payment of the property stamp, and a copy of the registry of the land.

If it is discovered that you got any of these documents in an illicit manner or that you lied to the notary then you will be asked to forfeit any and all properties you might have purchased. For this reason it is always wise to have a prime legal team supervising the purchase.

Once you have everything in order and you have successfully purchased property what follows is paying taxes. The average rate of tax paid in Portugal is 7.5%. The same tax for farmland or a house in an agricultural zone is 0.8%.

As you can see the process to buy a house as a foreigner in Portugal is very simple. The only way things can get a little complicated is if you are purchasing real estate in a historic location. If you are doing this then you will most likely need a good group of lawyers to help you.

I also highly recommend that you link your real estate purchase with a Golden Visa. It would be much easier for you to live in Portugal if you have a permanent residency or a second passport. Just remember that in order to qualify the real estate that you purchased must be worth more than €250,000.