James3D

Hello I am looking to buy a place in Portugal.
I am a cash buyer and should have some savings left over when bought.
I am self employed contractually. I don't have work at the moment and I was planning to take some time off to do a resoration of a house in Portugal.

Can anyone tell me with new laws etc, will I run into problems when I go to get a fiscal number and bank account? I plan to stay in the UK most of the year for work so won't be a tax resident. I beleive I have to prove my income now when buying a house in Portugal?

Anyone? Thanks,
James.

isdoo

subscribing to topic, as we would have an issue if this was the case.

Being a cash buyer....

EMR

I believe that this only applies if you take up residence in Portugal.
You mention restoring a property, the amount and type of work you can do yourself is also controlled by law.
You will find that much of the work such as anything electrical needs to be done or at least signed off by a registered electrician.

James3D

Isdoo you are in same position?
EMR thanks,
I was looking to buy a property in April last year, when I went to set up a bank account, my passport was old and they requested proof of income etc.
I think it was because the passport photo did not look like me, passport photos never do! I dont look like a suspicious person and was well dressed with expensive shoes on at the time, perhaps this was why they
were suspicious? lol.

Thanks for tip about restoration, I get it mixed up with renovation. I want to concentrate on interior of an already sound structure, which again is difficult as I beleive survey in Portugal don't come with garuntees? lol. Its all fun.

isdoo

Probably not until next year

We are going to spend 6 months in the area first, whilst we look for a property / decide if we can cope with living abroad.

EMR

There are new rules regarding money laundering which is why they may have wanted additional information from you.
You can basically do anything you like to the inside of a property without needing to apply for permission.
If you are knocking walls down etc in an old building get an expert in before you start.

brodev

My info is out of date but 5 years ago I needed proof of income to open a bank account in CGD

James3D

OK that is interesting, thanks for information. I will try to get more contracts. I also have a CELTA so perhaps if I get some work in Lisboa teaching and show them my online earnings that may be ok?

daisyman1951

Last week I went into Montepio's London branch to open an account in Lagos, it remains to be seen if they will obtain a fiscal number for me, one lady said they could & would - the other lady was doubtful so we shall see.

When she asked about income I said none because I have retired early & haven't started drawing on a personal pension yet. She then asked me for a "retirement certificate" & I said there's no such thing in UK. After some thought she just entered "retired".

So maybe no income or no fiscal number will defeat my efforts

steppitoe

To get a fiscal number is simple, go to the Finanças with up to date ID and ask for one, it is that simple.

isdoo

Not so easy if in the UK as daisyman1951 is

liveaboard

I opened an account at BPI; I wasn't asked for proof of income, only ID.
It's a cash account, I have no overdraft possibility.
It was 5 or 6 years ago.

James3D

Well, I went to get one in April in person.
First the place where I get my number, they didnt just want my passport they wanted my birth certificate which I did not have, so I had to order one.
Then the bank, wanted me to give details on income and the fiscal number which I could not get due to the above.
The people who were helping me to do this, said the laws had recently changed etc.

I will be going to Portugal again and get my income of now, ie last contract etc. Try again, perhaps I will have to get some part time esl job to be safe.
I can see the government don't want people who will be a burden,
but many people now have contractual work etc.

daisyman1951

Update to earlier post. Account now opened in Lagos & it took 3& half working days No fiscal number & no income declared. Ladies in London branch will be on a roll now if anyone else asks!

James3D

Can you buy a house without an fiscal number?
I was going to ask an estate agent to get some houses for viewings in the autumn, I dont want to waste their time or mine if I suddenly am denied a fiscal number etc as I am having an income gap at the moment.