Portugal’s property market is booming, and interest among foreign investors is at an all-time high. Buying property in Portugal is not just surprisingly simple but can also open the door to becoming a permanent legal EU resident.
The Portugal Golden Visa property scheme grants investors who meet the minimum property purchase value requirement (typically €280,000 to €500,000) the right to live and work permanently in the country. Average property costs in Portugal continue to grow healthily, making now the time to consider a potentially lucrative investment.
But some issues associated with Portugal property investments call for careful consideration. One of which is providing adequate protection for your assets upon taking ownership of a property in Portugal.
If you intend to buy property in Portugal and get residency under any Visa scheme, you may need to register it with Balcão Único do Prédio.
Known by most as BUPi, the Balcão Único do Prédio was launched as an experimental project in 2017, and has extended across Portugal ever since.
It is a scheme aimed at owners of mixed buildings and rustic dwellings. It was created with four goals in mind – spatial planning, the valorization of resources, the identification of owners, and the prevention of fires.
Since the scheme’s introduction, owners who wish to restructure the ownership of their land are required to register with BUPi. It is currently free of charge to register, and the process can be completed online or in person.
Head over to the official BUPi page at the URL below for more information:
Registration is important for owners of qualifying buildings for the following reasons:
It is important to understand that as a landowner, protecting your rights is only possible upon registering with the appropriate authorities. Registering your property with the Portuguese Tax and Customs Authority is not enough to safeguard your ownership rights.
To fully protect what’s yours, you must register the geolocation of your property as part of your official BUPi registration.
You can register online or in-person, as outlined below:
Online Registration:
In-Person Registration:
If unsure where your nearest BUPi counter is, there is a locater on the Portuguese government website. Find out more here.
You can (and must) register with BUPi if you own one or more of the following property types in Portugal:
Rustic Buildings
A rustic building is defined as a delimited part of the ground and the buildings on it that do not have economic autonomy (land intended for a use that generates agricultural or forestry income or that is directly allocated to the production of income of this type).
Mixed Buildings
This category encompasses buildings composed of a rustic part and an urban part (built property, with the land that serves as a patio or land intended for construction).
To access BUPi online, you need to authenticate with a:
or
To identify and register properties on BUPi online or in person, you will need:
If you do not have a document proving that you are the property owner, you can fill in this form and hand it in when registering your property at BUPi.
Information about the following people must be included on the form:
It is currently free but may incur service costs as of August 23, 2023.
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