Published on 9th December 2019
Portugal has long been the most preferred tourist destination for Europeans, but many tourists now decide to prolong their stay because of the great tax incentives they can benefit from when investing in real estate in Portugal.
In addition to the obvious advantages of about 300 days of sunshine in the south, along with the low cost of food and houses, these are the main ways investors will be saving money when investing in real estate in Portugal:
Tax benefits for pensioners, and workers
All pension incomes from outside Portugal are exempt from IRS payments but the ones earned in Portugal. This is because where double tax agreements exist (such as with Portugal and France for instance), the right to raise taxes falls into the country of residence. Portugal currently exempts retirees from paying taxes on their non-Portuguese pension incomes.
Portugal is particularly appealing to the older generations thanks to the climate and healthy cuisine; in addition, the cost of living is generally 25% lower compared to other European countries.
If you’re looking for a nice place to live or a portuguese real estate investment, we can also help you find a house or property here.
If you’re a worker, you will profit from a 20% fixed income tax (IRS). This decreased rate refers to all high-value-added skilled professionals. The professions list is vast, and they include architects, engineers, dentists, singers, directors, managers, amongst others. You can check the list of the acceptable professions here (PT document).
Investing 350k in Portugal Golden Visa
At this level of investment, the applicant can invest in Real Estate located in urban areas, but only properties constructed more than 30 years ago and in need of refurbishment.
Although a bit more time consuming, after refurbishing the property, the 350k real estate investment is worth it because the investor can remodel the house however preferred, having in mind the tenants needs, and get a better return of his investment.
Investing 350k in Portugal Golden Visa is becoming popular due to its low real estate investment and its benefits, but it might be challenging for the investor to follow up with the renovations if he’s not in Portugal.
This is where we can also help. If you’re interested in investing 350k in Portugal and need help following up with the investment in real estate, get in touch with our After Sales team, who can assist you in every stage, even if you’re away.
House inspections can also save money on constant future repairs
During your search, you might find a home that seems amazing at first. Afterwards, as you walk through the house you discover issues – the floors squeak, there is mold in the bathroom, the kitchen island is off-center.
In these cases, seek help from a trained house inspector to look thoroughly at the property, and uncover issues you wouldn’t think of during your walkthrough. This can save you thousands in repairs.
The After Sales Department can also assist you in these cases saving your money, monthly updating you about the construction process and whether the building specifications report is being respected, so when you visit the properties, you’re not surprised with a different plan than it was first established.
About Portugal Homes
PortugalHomes.com specializes in investments in Real Estate and Golden Visa. We help buyers find the right property overseas, whether it be for Golden Visa, NHR, Investment or simply a place in the sun. Our properties are selected with great thought in mind to give our clients the best opportunities. We offer the complete service from introducing them to the Legal Representatives, Currency Exchange, Mortgage Advisors, Property Management, Rental and Furniture Packages along with making sure all our staff are trained to fully understand the buying process and taxes for every scenario. Portugal Homes provides the complete service to anyone looking to buy a new or resale property overseas for holiday use or as a short or long-term investment.
Phone: +351 213 471 603