We are here to ensure Tax Tranquility!
If you are a Non-Resident * who wishes to buy a property in Portugal, will need a Fiscal Representative. To ensure that your property is safeguarded, the Fiscal Representative, will be legally responsible for receiving all tax assessments on your property, that is, taxes on the property such as the IMI, and that will inform within legal limits deadlines for making their payment.
We advise you to appoint a Fiscal Representative at the time of acquisition of the property or so that intends to be absent from the country, so this way might be quiet about all taxes and other tax issues that may arise on your property while absent in the country.
*Non-residents are people who are outside the country for a period EQUAL OR SUPERIOR of 6 months, or legal persons having their headquarters outside the national territory.
The mandatory appointment of a Legal Representative of Portugal.
Is provided in Portuguese law for all Non Residents wishing to purchase real estate or equity assets in Portugal, the appointment of a Fiscal Representative. The failure to comply will have legal consequences that may require the payment of fines that may vary between € 50 to € 5000Also for people who receive income subject to IRS (Income Tax of Individuals) and that are outside the National Territory for a period EQUAL OR SUPERIOR of 6 months, must appoint a Fiscal Representative MANDATORILY.
Advantages in having a Fiscal Representative
For people who own real estate and capital assets, receiving income subject to IRS in Portugal and who are outside the country or who are not resident in Portugal, then a Fiscal Representative will have a very important role. Not only ensure that never enters into default or is properly informed about all tax matters for the Portuguese Government with, but also to offer you peace of mind while you are away.Even for those who live the whole year in the country, a tax representative can bring you many advantages and help clarify the legal processes and taxes are subject.
We all know that sometimes we need help with legal processes, and we do not always find the information needed to clarify the tax procedures in this case, a tax representative can be an advantage!
Count on us to help them find a Fiscal Representative who will assist you on all these issues!
And you know, if you need more information about this or other matters related to the acquisition of real estate, do not hesitate to Contact us!