This website uses cookies to ensure you get the best experience on our website   More info

Property Search

New Rules & Regulations for Going to Deed

In order to better discourage money laundering and to fight financial terrorism, as of November 19, 2017, Law No. 89/2017, dated August 21, has been approved, changing the Registry and Notary Laws. This amendment states that it is mandatory to mention in the contract, the paying method used to purchase a property (by the conservatoire, notary, lawyer or solicitor). If it has been paid before completion of the contract, the law requires that it be mentioned in the contract anyway, as well as the payment method, i.e. if it was paid in cash, for example, it is mandatory to indicate the currency used; if it was a bank transaction then the unique identifier of the transaction and its issuer are required.

It is prohibited to pay or receive cash in transactions of any nature for amounts exceeding € 3,000 or € 10,000 if it is an individual person not resident in Portugal, and not representing a company. The same applies to taxes if they exceed €500, because it can be punishable by a fine of up to € 4,500.

Even though a National Data Protection Commission claims this is unconstitutional l as it is "restricting the fundamental rights of the citizen", the diploma of this law was approved.