Preparing to Go Shopping for Property in Portugal
In preparing fo the trip we got our Portuguese tax id (NIF) numbers via our (nicest) lawyer (ever), Dra. Paula Miereles. You can't do anything in Portugal without the NIF number.
She also recommended a banker with Bankinter.
We were able to find out what documentation we needed, as 'muricans, to open a bank account. While we couldn't open the account over the internet, we were able to provide all the documentation via email.
Our tax peparer in the US will be happy. One more IRS form. We'll find out how big red audit flag an oveseas account flag is to the IRS! (We had to give Bankinter a W9 and confidentiality waiver permission to share with the IRS).
Unlike the US, you can open an account without funding it. We have accounts, debit/credit cards, online banking, all that stuff. And a 5% interest rate the first year which will help with currency conversion, a little.
One last thing. We visited Paula-the-nicest-lawyer the first business day in person and signed a power-of-attorney strictly limited to purchasing property and dealing with tax and utilities for a future purchase on our behalf. Notarized, signed and again suprisingly, still free. (Don''t worry, that'll soon change)
Locked and loaded and ready to go. We are dangerous now!
She also recommended a banker with Bankinter.
We were able to find out what documentation we needed, as 'muricans, to open a bank account. While we couldn't open the account over the internet, we were able to provide all the documentation via email.
Our tax peparer in the US will be happy. One more IRS form. We'll find out how big red audit flag an oveseas account flag is to the IRS! (We had to give Bankinter a W9 and confidentiality waiver permission to share with the IRS).
Unlike the US, you can open an account without funding it. We have accounts, debit/credit cards, online banking, all that stuff. And a 5% interest rate the first year which will help with currency conversion, a little.
One last thing. We visited Paula-the-nicest-lawyer the first business day in person and signed a power-of-attorney strictly limited to purchasing property and dealing with tax and utilities for a future purchase on our behalf. Notarized, signed and again suprisingly, still free. (Don''t worry, that'll soon change)
Locked and loaded and ready to go. We are dangerous now!
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