How Much Is The Tax Transfer In Portugal?

Question

Accepted Answer

Starting from August 1, 2024, Portugal waived the Real Estate Transfer Tax (IMT) and Stamp Duty for property purchases if the buyer is under 35 and is buying their first permanent home.

Information Type	Portugal Data
Population	10,223,349 people (Jan. 2024)
Gross Domestic Product PPP (GDP)	US$362.3 billion (Jan. 2024)
GDP Per Capita	US$22,414 (Jan. 2024)
Inflation Rate	2.9% (2024)
Currency	Euro (EUR)
Exchange Rate Versus U.S. Dollar	0.92 euro per U.S. dollar (Jan. 2024)
Language	Portuguese (official), Mirandese (official, but locally used).
Capital	Lisbon
Population of Capital City	3,015,000 (metropolitan area)
Time Zone	GMT
Seasons	Mediterranean: hot, dry summers; wet, cool winters
International Dialing Code	351
Electricity	230V / 50 Hz, Plug Type: C, F
System of Government	Republic, Parliamentary Democracy
Current Leader	President Marcelo Rebelo de Sousa
Income Tax Rate for Residents	Residents in Portugal are taxed on their worldwide income at progressive rates varying from 13.25% to 48% (2024). Nonresidents are taxed at a flat rate of 25% on their taxable remuneration (2024).
Property Tax	0.3% to 0.5% of the total real estate value for urban properties. For rural properties, it's 0.8%.
Capital Gains Tax	28%
Inheritance Tax	None
Rental Income Tax	28%
Transfer Tax	6.5%
Sales Tax	23%
Restrictions On Foreign Ownership Of Property	None
Local Chamber of Commerce	Rua das Portas de Santo Antão 89 Lisbon 1150 266 Portugal Tel: 351-21-190-36-50
American Chamber of Commerce	Lisboa – Sao Jorge de Arrolos Rua D. Estefanis 155 1000-154 Lisboa Tel. 351-213-572-561
Primary Exports	Agricultural products, food products, oil products, chemical products, plastics and rubber, skins and leather, wood and cork, wood pulp and paper, textile materials, clothing, footwear, base metals, machinery, and tools.
Residency and Visa Requirements	Tourist Visa: Automatic 90 days upon entry. Residency: Portugal changed the rules of its golden visa program (eliminating real estate from the list of qualifying investment classes). Another Portugal fact is that the legislation stipulates the minimum working wage (around 485 euros per month currently) for the principal visa holder, 50% of that value for a spouse, and 30% per child. For instance, these requirements can be reduced if the applicant can prove he already has lodging paid for or guaranteed. Citizenship: After six years of continuous residency.
Special Benefits for Foreign Residents or Retirees	Recent legislation allows resident foreign retirees to receive pension and foreign income in the country tax-free for 10 years if they qualify for the NHR status. Most importantly, the law also provides for reduced taxation on wages, intellectual property, interest, dividends, and capital gains. On the other hand, tax rates are relatively high and the tax-free status for NHR residents is not indefinite but for 10 years.
National Airline	TAP Portugal

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