1. Are
there any restrictions on an overseas company or business
buying commercial property?
No
2. Is
land/property generally ‘registered’ so
that the title/ownership is guaranteed?
Yes, the land/property
is registered at the ‘Conservatória do
Registo Predial’
3. What
are the basic requirements/procedures?
Certificate issued by
the ‘Conservatória do Registo Predial’
showing the legitimacy of the seller; Certificate and
‘Conhecimento de Sisa’ issued by the ‘Repartição
de Finanças’ (tax related with the transfer
of property ); for buildings a ‘Licença
de Utilização’ issued by the ‘Câmara
Municipal’ (document showing the Town Hall approved
the building); identification of the vendor and purchaser.
This enables the creation of a Public deed which must
be registered at the ‘Conservatória do
Registo Predial’
4. On
average, how long does the process take?
Generally, about one
month to get the Public Deed; registration -15 days
to one month.
5. What
searches are advisable?
Conservatória
do Registo Predialn (conservatory), Serviço de
Finanças ( tax department) and Câmara Municipal
(Town Hall ).
6. What
are estimated disbursement costs?
Standard documentation:
50€; other tax rates: 6.5% for commercial property.
Public deed c.200€ + 0.8 % of the price (stamp
tax); registration c.200€)
7. What
are the local and/or national tax considerations in
the country of purchase?
Annual ‘Contribuição
Autárquica’ tax.
8. What
other annual local charges are obligatory?
Local authorities may
at their discretion, fix a special tax at the rate of
10% of the profits of companies based in their region
9. Are
there any other issues to consider?
Risk of local government
purchase option to buy ‘historical’ buildings
and risks if buying in a national park area.
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