Taking a slice of the tourist euro

It's a no brainer

With so many blue flag beaches, award winning golf courses, fabulous restaurants and friendly people it is no wonder that year after year thousands upon thousands of holidaymakers flock to Portugal for a week or two in the sun. Now that you own a property in this beautiful country it seems to be a no brainer to take a slice of the ever growing tourist euro by renting out your home, or homes, in the sun. 

Paperwork, paperwork and, yes more paperwork

Providing accommodation for rental in Portugal is seen as running a business and necessary legal requirements have to be met. To rent out your property you must have an Aljomento Local (AL) licence for each property you will be renting out. The publicity, commercial documentation and merchandising of your rental property, must show the property name followed by the AL registration number.

Choose wisely

There are hundreds of companies in Portugal who will manage your rental property - second to real estate agencies, property management companies are probably the next most prevalent business you will find! 

Making money - now add tax

When you were getting your AL license in order, you will also have had to inform the tax authorities - Finanças - about starting your activity. You would have done this by registering as a sole trader, or through a company. If you are not a resident here you will need to have a fiscal representative. Although the requirement to have a fiscal representative was abolished (for EU citizens) it is still necessary if you have any income in Portugal.

Let’s keep it legal

With so much paperwork, checks and tax to deal with it may be tempting to take a “selective” approach to the legal responsibilities of renting out your property. 

Happy to go it alone

When you bought your property, or properties, in the sun you may have done so with the view of looking after them and dealing with the rental side of things yourself. 

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