If you don’t go to Portugal, how can you complete the investment in buying a house in Portugal in China?

China’s wealthy class continues to rise rapidly. Faced with the slowdown in domestic economic growth, wealthy Chinese are looking overseas for more diversified investments, and the scale of overseas investment has reached unprecedented levels. However, many investors are busy with business and have no time to go to Portugal to buy real estate, so they can only look at properties in China. Don’t worry, Uruida’s overseas asset allocation experts are here to help you!

1. House purchase via video

If investors are busy with work in China and are inconvenient to go to Portugal to view houses, they can purchase real estate through video. In December 2016, Mr. D from Hangzhou successfully purchased his favorite property in China through this method.

The specific process is as follows:

1. Based on Mr. D’s intention to purchase a house, we provided him with relevant real estate PPT and videos, showing the features and advantages of each project in detail.

2. After Mr. D confirmed the intended real estate project, we helped Mr. D make an appointment with the overseas developer and the translator of the law firm. We reconfirmed the details of the property to be purchased through video, and finally selected the property. And negotiate the price with the developer, confirm the payment time, and sign the reservation agreement.

3. According to the agreement, Mr. D will remit the deposit to the developer's account on the same day, and at the same time remit the lawyer's fees to the law firm's account.

4. After receiving the legal fees, the lawyer prepared Mr. D’s house purchase contract, bank account opening form and other documents that need to be signed within 3 working days.

5. After Mr. D has confirmed that he has no objections to the house purchase contract and other documents, we help Mr. D make an appointment with a Portuguese lawyer in China to sign the documents.

6. The lawyer went on a business trip to Hangzhou to interview Mr. D to sign the above documents and answer questions.

7. The lawyer will bring the signed documents back and mail them to the Portuguese law firm. After receiving them, the Portuguese lawyer will submit the account opening documents to the bank to follow up on the account opening. At the same time, the developer will be asked to sign the house purchase contract, and then the Portuguese lawyer will The original contract signed by the three parties is mailed to Mr. D, and the house purchase process is completed.

House purchase flow chart

2. Buying a house on behalf of parents

If the investor is working or studying abroad and cannot go to Portugal to view the house, in addition to purchasing the house through video, You can also ask your parents in China to buy a house on your behalf. Next is the house purchase case of investor Mr. S.

Mr. S is studying in Canada and has no job. In 2016, my mother came to Portugal to select a property, signed a reservation agreement, and paid the deposit and legal fees. However, bank account opening forms, house purchase contracts and other documents required Mr. S to have an interview with a lawyer for signing. However, Mr. S could not go to Portugal or return to China. The lawyer refused to sign the documents via video because he could not confirm whether he was in Canada.

After communication and negotiation, the lawyer suggested that Mr. S contact the Portuguese Embassy in Canada and go there to sign the above documents and have the signature authenticated. After signing, mail the original signature to the Portuguese lawyer.

It is worth noting that in addition to the normal documents required to open an account (photocopy of ID card, passport), Mr. S also needs to provide the original documents of Canadian enrollment certificate and Canadian address certificate. When you are ready, just mail it to the Portuguese lawyer together with the above signed documents.

House Purchase Flow Chart

The process after purchasing a house is the same as for investors who enter the country to purchase a house normally:

After Mr. D and Mr. S open their accounts, According to the terms of the contract, the house payment was paid on time;

After all the house payment was paid to the developer's account, we made an appointment for them to go to the Portuguese Immigration Bureau to open and submit the documents;

After making an appointment, the two of them began to prepare the application documents (both of them applied for the Portuguese Golden Residence Permit separately, and only needed to prepare the double certification of no crime, and the rest of the documents were prepared with the assistance of lawyers in Portugal).

Both of them have completed the application submission procedures and are currently waiting for the approval notification from the Portuguese Immigration Bureau.

This article is reproduced from: Chengdu Uruida official website (please indicate the source for reprinting)

Chengdu Uruida is a strategic cooperation agency designated by the Foreign Institutions Service Office of the Foreign Affairs and Overseas Chinese Affairs Office of the Sichuan Provincial People's Government.

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