WHO IS ENTITLED TO EXEMPTION FROM IMT, STAMP DUTY, REGISTRATION AT THE REGISTRY OFFICE?
Under the new legislation, the benefit of exemption or reduction of IMT and stamp duty, as well as exemption from the cost of registering the purchase and any mortgage at the registry office is applicable to:
- Buyers who are up to and including the age of 35 on the date of the deed of sale;
- Buyers cannot be considered as dependents for IRS purposes;
- The purchase must be the first purchase of a home and the buyer cannot be or have been the owner of a home in the previous 3 years;
- Buyer must be tax resident in Portugal, regardless of nationality.
The purchase must be of a property that has already been built.
The property purchased must be kept as a permanent home for at least 6 years.
If the purchase is made by more than one buyer, and only one of the buyers meets all the requirements, the exemptions are applied proportionally.
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