Financing Property Portugal — How It Works
Non-residents can also buy and finance property in Portugal — with structural parallels to Spain (lower loan-to-value, a dedicated tax number as a prerequisite) but its own tax rules, which have shifted noticeably in recent months. Mixing up IMT, stamp duty and IMI is the most common arithmetic error when comparing Portugal with Spain.
How does financing a property in Portugal work for non-residents?
Non-residents can buy and finance property in Portugal: the tax number NIF is a prerequisite like the NIE, and banks apply a lower loan-to-value. Under Decreto-Lei 97/2026, in force since 25 May 2026, a flat IMT rate of 7.5 % applies to buyers without Portuguese tax residence; stamp duty comes on top and IMI is charged annually.
What matters about these two points
The answer box above states the case. The two points it is built from carry their own heading here — together with what each of them means in practice.
The NIF as Portugal's equivalent to the NIE: Anyone seriously comparing the two countries applies for the NIF and the NIE early rather than waiting until the choice of country is settled. Both numbers stay valid, cost little, and remove the longest waiting period from the later process.
Purchase taxes: IMT after the 2026 reform
For the Portuguese cost calculation this means: IMT and imposto do selo belong to the purchase, the IMI to ongoing ownership.
Mixing those three up is the most common arithmetic error when comparing Portugal with Spain.
Where Spain and Portugal follow similar financing logic
In both countries, banks apply a lower maximum loan-to-value to non-residents than to residents (see Spain Mortgage LTV for Non-Residents for Spain) — but the exact percentages and assessment criteria differ between the two markets and between individual banks.
Anyone weighing up both markets should not mistake these structural parallels for identical conditions — each market calls for its own, current assessment.
Stamp duty comes on top of the IMT
Portugal charges Imposto do Selo in addition to the IMT, and it applies twice over in a financed purchase: once on the transfer itself and once on the mortgage deed, calculated on the loan amount.
Neither is included in the IMT tables, and neither is financed by the lender. Budgeting from the IMT alone therefore understates the cash required at completion. A further point catches buyers out: both are due before or at the deed, not afterwards, and the notary will not proceed without evidence of payment. Portugal's purchase costs are lower than Spain's overall, but the sequence in which they fall due is tighter.
AIMI — Portugal's additional tax on higher property values
Alongside the annual IMI, Portugal levies AIMI on the taxable value of property holdings above an allowance.
It applies to non-residents expressly, and it is calculated on the combined value of all Portuguese properties held by one person rather than property by property — so two modest flats can bring someone into AIMI although neither reaches the threshold alone.
Where spouses own jointly, the allowance can be doubled, but that has to be applied for.
The second point: the base is the VPT, the official taxable value, not the purchase price — and the VPT can under certain conditions be reassessed, which is worth checking on an older property before assuming the figure is fixed.
CPCV (Contrato-Promessa de Compra e Venda) →
The CPCV is the binding Portuguese preliminary contract when buying property – signed with a deposit (sinal) and fully binding.
Once you sign the CPCV you are bound — financing should already be in place place before you sign.
Non-Resident Mortgage Spain (Hipoteca no residente) →
A Hipoteca no residente is a Spanish property loan for buyers without tax residency in Spain, usually with a lower maximum loan-to-value.
With the right choice of bank and a well-prepared file, a lender can be found and the processing time shortened noticeably.
NIE Number Spain (Número de Identificación de Extranjero) →
The NIE (Número de Identificación de Extranjero) is the Spanish tax and identification number for foreigners, required for the notarial deed, the land registry, a Spanish bank account and almost every tax filing.
Without an NIE almost nothing works in Spain – applying for it early avoids delays later in the purchase.
Frequently asked questions
Do I apply for a NIE in Spain and for a NIF in Portugal separately?
Yes, each country has its own number: the NIE for Spain and the NIF for Portugal. The NIF plays the same role as the NIE, a prerequisite for purchase, financing and virtually every tax filing, and like the NIE it can be obtained locally or through a consulate. If you are weighing both markets, apply for both early; they stay valid and cost little.
Is stamp duty in Portugal included in the IMT?
No. Portugal charges Imposto do Selo in addition to the IMT, once on the transfer itself and once on the mortgage deed, calculated on the loan amount. Neither is included in the IMT tables, and neither is financed by the lender.
Does AIMI in Portugal apply to non-residents?
Yes, AIMI applies to non-residents expressly. It is levied on the taxable value of property holdings above an allowance and is calculated on the combined value of all Portuguese properties held by one person.
Related pages
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Content by Siegfried Perini — local brand representative since 2019, active in real estate since 1992, entered in the German intermediary register (§ 11a GewO) as a person directly involved in brokerage and advice. Point of contact for German-speaking buyers in Spain and Portugal. Brokerage by Olga Nikushkina, mortgage credit intermediary under § 34i German Trade Regulation (GewO); in Portugal through a locally licensed intermediary.