For detailed information see the Portuguese social security (Segurança Social) website.
Information on several aspects of the system can be found in English, particularly those related to social security affiliation, contributions and benefits.
Posts under ‘Finances & Currency’
Social Security / Segurança Social
Mortgages for Portuguese Properties
Banks / brokers offering mortgages to foreigners purchasing property in Portugal:
Barclays
A mortgage product for International Clients in Portugal .
www.barclays.co.uk/buyingabroad
Banco Espirito Santo (BES)
Portugal’s third largest bank, now offers an innovative Non Residents Mortgage Service especially designed for those in UK and Ireland interested in buying properties in Portugal.
www.bes.pt
Millenium bcp
Eurocasa Non-Residents Mortgage
www.bpatlantico.pt
Santander Totta
Santander Totta arrange mortgages for [...]
Banks / Bancos
Banking hours are from 08:30 – 15:00 Monday to Friday. Most banks are closed on weekends and public holidays.
Banco BPI
www.bancobpi.pt
Banco de Portugal
The central bank of the Portuguese Republic.
Rua do Ouro 27, 1100-150 Lisboa. Tel: (00351) 213213200
www.bportugal.pt
Banco Espírito Santo (BES)
BES has subsidiaries, associated banks, & branches in Madrid, So Paulo, Luanda, Paris, Macao, Miami, Dublin, London, [...]
Portuguese Currency (Euros)
Euro banknotes and coins replaced escudos as legal tender from 28 February 2002. The Bank of Portugal (Banco de Portugal) will receive and pay out the face value of escudo banknotes for a period of 20 years.
Euro Banknotes
On the front of the banknotes, windows and gateways symbolise the European spirit of openness and co-operation. The [...]
International Money Transfers
The following terms need to be understood for transferring funds in the UK or abroad:
IBAN
S.W.I.F.T / BIC
Beneficiary Name
Payment Reference
What about the actual transfer?
Sterling-to-Sterling Transfers
CHAPS
BACS
International Transfers
IBAN
What is it?
IBAN stands for International Bank Account Number and is always used in conjunction with a Bank Identifier Code (BIC) An IBAN is NOT a new bank account number. Existing [...]
Foreign Currency Transfers
Increasing property prices and high taxes are just some of the reasons why nearly three quarters of a million Britons have swapped UK retirement for a sunnier & more affordable quality of life.
If you are buying property abroad, you will still need to buy and transfer currency, while currency is generally regarded as an afterthought, [...]
Exemption from IMI / Isenção de Imposto Municipal sobre Imóveis
First-time buyers may apply for exemption from paying IMI (annual rates – similar to UK Council Tax). The request should be made, within 60 days from the signing of the deed of purchase and sale (escritura), at the tax office (Finanças) for the area where the property is located. Exemption is only granted on main [...]
Fiscal Number / Numero Fiscal de Contribuinte
You will need a fiscal (tax) number (Numero Fiscal de Contribuinte often abbreviated to Nº Contribuinte) for many purchases in Portugal, including property and vehicles, and in order to open a bank account. You will also need a tax number if you wish to work, or take up residence, in Portugal. A Portuguese fiscal number is [...]