Posted on May 21, 2009 - by admin

Owning a Property in Portugal

Firstly if your property is not to be your permanent residence then you will have to appoint a Fiscal Representative to communicate on your behalf with the local tax office to ensure your annual council tax (Imposto do Municipal Sobre Imoveis IMI) are paid promptly.

If you purchase a property in Portugal and you do not intend to live in the country, then you will have to appoint a Fiscal Representative in the country. A fiscal representative is responsible for liaising with you and the local tax office.

If the property you purchase is a holiday home, then you will of course be liable to pay the annual council taxes. Your fiscal representative can be your lawyer, estate agent or a friend who is resident in Portugal.

Ensuring your property is properly protected with house insurance is also another key aspect which can get ignored during the heady rush of purchasing fixtures and fittings for your new home. However insuring your property against natural disasters, fires and accidents is important to protect your investment.

Another important aspect which can get overlooked if your property is a second home, is to organise direct debits for your utility connections (water, electric and gas where applicable). Ensuring your bank has received instructions for standing orders is important as failure to pay standing charges will result in the termination of a service, which can be costly to reconnect.

If your property in Portugal has a large garden then you will have to consider who will maintain it while you are not in the country. Spending precious time on holiday weeding your garden which in your absence has become a jungle is not restful or relaxing. There are many companies who offer garden maintenance services throughout Portugal and if you want to stretch out and relax during your break in the sun, hiring professionals can be money well spent.

Equally appointing someone to key hold for you while you are not in Portugal will give you peace of mind. You may have friends or family in Portugal who will be able to take care of your property in Portugal while you are not here. However if you do not have anyone to ask, there are plenty of companies throughout the country which provide Property Management.