If you're spending time in Portugal—whether you've moved for the sunshine, the lifestyle, or just a temporary stint—you'll likely need to move funds from abroad. Whether it’s your monthly pension, a lump sum to buy property, or proof of savings for a visa, choosing how to transfer money can make a big difference to your bottom line. While international banking might sound straightforward, it’s easy to lose money through poor exchange rates and sneaky fees. That’s why it pays to know your options. Why Transfers to Portugal Aren’t Always Equal If you're transferring money from another eurozone country (like Germany or France), you’re in luck: SEPA (Single Euro Payments Area) makes euro-to-euro transfers fast and fee-free. But things get trickier when you're converting currencies—say, USD or GBP to EUR. In those cases, you’re dealing with exchange rates and often hidden fees. Pro tip : Your regular bank is usually not the cheapest option. Top Services for Intern...
When you purchase real estate in Portugal, IMT is one of the first costs you’ll encounter. It’s a municipal tax levied on property acquisitions , and the rate you’ll pay depends on several factors, including the property’s price, purpose, and type. How is IMT Calculated? The IMT amount is calculated based on either the declared purchase price or the property’s tax-assessed value — whichever is higher. The tax rate itself varies, with the following general breakdown: Rustic land : Flat rate of 5% Urban properties for primary residence : Progressive rates from 1% to 8% , with potential deductions based on value Urban properties for second homes or rental investment : Rates typically between 1% and 6% Purchases by offshore companies : Flat 10% rate Keep in mind that the government updates these bands occasionally, so always check the current IMT tables or consult a local legal advisor for accurate figures before closing a deal. Are There Any IMT Exemptions? Yes ...