Portugal PR Visa
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Portugal Gold Residence Permit Investment PlanPortugal Permanent Residence Investment Plan

Application Process:

  • Make the down payment and transfer the deed

    • Overview
      • Upon the successful purchase of the property and payment of the deposit in Portugal, the main applicant shall pay the balance and tax in accordance with the payment deadline and the amount specified in the Connaught Contract (CPCV ) signed with the developer.
      • Note:Connaught Contract is also known as the Real Estate Sales Contract
    • There are seven steps in the real estate payment and the transfer of the land deed
      • The main applicant pays the deposit (Generally, the deposit is €20,000 or more) after choosing a suitable property in Portugal, then the developer issues the deposit receipt and signs the CPCV with the main applicant.
      • The main applicant goes to the bank to submit the account file and open a bank account with the help of a lawyer.
      • With the assistance of a lawyer, the main applicant needs to apply for a tax number (usually 10 to 15 days are required for processing) and then activate the bank account.
      • According to the amount of payment and the payment deadline agreed upon with the developer in the CPCV, the main applicant needs to deposit their funds into his/her Portugal’s bank account from their foreign accounts.
      • The lawyer helps the main applicants to confirm with the bank whether their funds have been transferred and credited to their accounts. Once the transaction is confirmed, the bank will send an authorized notification to the main applicants. Then the main applicants sign the authorization agreement and return it to the bank, with a copy sent to the lawyer. Finally, the bank will issue the relevant payments to the developer and the tax department.
      • The lawyer, on behalf of the main applicants, will appoint the date of the deed transfer with the developer and the notary once the main applicants complete the full payment.
      • On the same day, the lawyer, on behalf of the main applicants, will complete the transfer of the deed from the developer.
  • Property related terms

    • Tax ID: According to Portuguese law, the applicants who are 18 years of age or older are required to apply for a tax number
      • Tax number application process:
        • (1) The applicants need to send a copy of their ID card, a translation of the card, and a copy of the passport to the tax representative.
        • (2) The tax representative drafts the tax representative service agreement, the application & tax authorization, and the tax representative statement, which the applicants must then sign.
        • (3) Finally, the tax representative will assist the applicants to apply for a tax number. This application usually takes about ten to fifteen days.
      • The role of the tax number:
        • (1) Activate the applicant’s Portuguese bank account;
        • (2) Issue a statement of tax and social security without debt;
        • (3) Getting a tax number is a prerequisite of paying taxes;
        • (4) Getting a tax number is one of the prerequisites for the transfer of land deed.
    • Authorized E-mail Address:  an e-mail account given to the bank when the main applicant opens a bank account (the main applicant must provide their own personal e-mail address and confirm that the information is accurate);
    • Payment deadline: Refers to the actual date when the developer receives the main applicant’s funds rather than the date when the main applicants pay the money.
    • Reservation: The time at which the lawyer, developer and notary transfer the title deed. All three parties must be present at this time.
    • Title Deed: the main applicant’s permanent and legal proof of property ownership. According to Portuguese law, the original file of title deed must be kept in the Portuguese national notary office. The main applicants will retain a copy of the deed, but it has the same legal validity as the original file.
    • Note:
      • The main applicant shall check his authorized e-mail account given to the Portuguese bank after they return to their own country.
        • The law firm, bank, developer and tax representative will contact the main applicant through this authorized e-mail account to maintain correspondence.
        • If the main applicant receives an authorized or money-transferred email or some other unconfirmed emails, they should send back the emails to the agency to confirm the contents of the email.
        • The applicant should not reply to the message on their own in the case of receiving unconfirmed emails to avoid unnecessary losses.
      • If the main applicant chooses the fixed-deposit service when they open a bank account in Portugal, the bank will freeze the main applicant’s deposit amount.
        • The main applicant needs to deposit the funds into his Portuguese account in the first payment to make sure that the amount is sufficient.
      • There is a service fee for international money transfers.
        • The applicant should contact the banker when the main applicant deposits their money and confirms the transfer fee, and transfers the funds for purchasing the property and the service fee into their Portuguese bank account to ensure that the amount is sufficient.
      • It usually takes three to five days (depending on the case) to transfer funds from one country to another.
        • It is recommended that the main applicant transfer the funds ten to twenty days before the deadline.
      • If the main applicant fails to make the payment on schedule due to a personal reason, the developer shall have the right to incur a late fee or even cancel the property ordered by the main applicant and the payment will not be returned.
      • In general, the first instalment of the property is paid by the main applicant by the way of signing the authorization and transferring the money (the transfer from the Portuguese bank account of the main applicant to the designated bank account of the developer).
        • The developer will provide a receipt to the main applicant after receiving the payment.
  • Pre-requisites for the transfer of title deed:

    • The main applicant has sufficient balance in his account to issue a balance check.
    • The lawyer takes out the balance check and the tax check from the bank.
    • The lawyer assists the main applicant in paying the property transaction tax and stamp duty.
    • The main applicant and his spouse must all have tax numbers.

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