Buying property within Portugal’s stable economic and political environment is a simple painless process as long as you get professionals to help you with the legal and financial side of the transaction.

Premiership Developments can assist in finding the right professional advisors to provide:

• Legal advice to ensure legal and planning enquiries are conducted and formal purchase contracts are understood.
• Financial advice on how to finance your purchase, whether by way of a foreign Mortgage or equity release in your domestic market.
• Foreign exchange services to ensure you get the best rates when sending funds from overseas.
• Fiscal representation which is required by non-residents.
  

Below is a summary of the 4 easy steps required for you to own your place in the sun at Vale da Lapa Parque Resort & Spa.....

1. RESERVATION
   Complete a Reservation Form and pay a deposit of €5,000. There are conditions attached to the Reservation process, which will be fully explained to you.
   
   
2. PROMISSORY CONTRACT
   OPTION 1 - NON-RESIDENT MORTGAGE SCHEME
   The Contrato Promessa de Compra e Venda will be issued to your lawyer, both in English and Portuguese to ensure you understand its contents. You will then be legally bound to purchase the property. The contract will give full details of the payments required during the construction of your property. For current Non-Resident Mortgage Scheme terms please contact the Sales office.
   
   OPTION 2 - 25% DEPOSIT
   The Contrato Promessa de Compra e Venda will be issued to your lawyer, both in English and Portuguese to ensure you understand its contents. Upon signing the contract a deposit of 25% of the purchase price (minus the €5,000 reservation deposit if already paid) will be required with the purchaser having to pay the balance at final deed.
   
   You will then be legally bound to purchase the property.
   25% Deposit on signing Promissory Contract
   75% on final deed
   
   
3. FISCAL REPRESENTATION
   In order to purchase a property in Portugal, non-residents are required to designate a fiscal representative to ensure they meet any tax obligations that may arise.
   
   
4. FINAL DEED AND REGISTRATION
   Once the development is complete and the Habitation License issued, Escritura (final deed) can be signed at which stage you will make your final payment. The property will then be legally yours! Your lawyer will then arrange for the deed to be registered, which usually takes a few weeks.