Are you considering starting a real estate mediation business in Portugal? Before diving into this exciting field, it’s crucial to understand the licensing process overseen by IMPIC, IP (Institute of Public Markets, Real Estate, and Construction). Here’s a detailed overview of the requirements, procedures, and obligations involved in obtaining a real estate mediation license.
Overview of Real Estate Mediation Activity
Real estate mediation involves facilitating property transactions on behalf of clients. This includes identifying suitable properties or buyers, negotiating deals, and assisting with legal aspects of transactions like leases or exchanges. Companies engaged in real estate mediation act as intermediaries, playing a pivotal role in property transactions.
Why Obtain a Real Estate Mediation License?
In Portugal, conducting real estate mediation without a proper license from IMPIC, IP is illegal. A license demonstrates credibility, ensuring that mediators operate ethically and in compliance with regulations. It also instills confidence in clients and enhances the reputation of your business.
Types of Real Estate Transactions Covered
As a licensed real estate mediator in Portugal, you can assist clients in various types of transactions, including:
– Creation or acquisition of real rights over real estate
– Exchanges, transfers, or leasing of properties
– Assignment of positions in real estate contracts
Authentication Methods for Licensing
To authenticate your identity and qualifications, IMPIC, IP accepts the following methods during the licensing process:
– Mobile Digital Key (CMD)
– Citizen Card
– Digital Certificate
Requirements for Individuals Applying for a License
If you’re applying for a real estate mediation license as an individual, you’ll need to fulfill specific requirements:
1. **Licensing Application Submission**
– Complete and submit the licensing application form to IMPIC, IP.
2. **Provide Identification Details**
– Include your civil identification number (Citizen Card, ID, or Residence Permit) and tax identification number.
3. **Declare Business Activities**
– Submit a declaration of business commencement, restart, or changes to the tax authority.
4. **Commercial Suitability Declaration**
– Declare your commercial suitability to engage in real estate mediation.
5. **Criminal Record Certificate**
– Obtain a criminal record certificate suitable for the intended activity.
6. **Civil Liability Insurance**
– Acquire an insurance policy to cover civil liability for damages during real estate mediation.
7. **List of Public Service Establishments**
– Provide a list of public service establishments where you intend to conduct business.
Requirements for Legal Entities Applying for a License
Companies seeking a real estate mediation license in Portugal must meet specific criteria:
1. **Licensing Application Submission**
– Submit a complete licensing application form to IMPIC, IP.
2. **Provide Company Details**
– Include identification numbers of the legal entity and fiscal identification of legal representatives.
3. **Commercial Registry Extract or Code**
– Present a Commercial Registry extract or code confirming the company’s registration.
4. **Criminal Record Certificates**
– Provide criminal record certificates of legal representatives suitable for the intended activity.
5. **Commercial Suitability Declarations**
– Each legal representative must declare commercial suitability for real estate mediation.
6. **Civil Liability Insurance**
– Obtain an insurance policy to cover civil liability during real estate mediation.
7. **List of Public Service Establishments**
– Provide a comprehensive list of public service establishments associated with the company.
8. **List of Legal Representatives**
– Submit a list of all legal representatives if the company has more than four representatives.
Licensing Process and Procedure
The process of obtaining a real estate mediation license from IMPIC, IP involves several steps:
1. **Application Submission and Review**
– Submit your licensing application to IMPIC, IP for initial review and assessment.
2. **Application Completeness Confirmation**
– IMPIC, IP confirms the completeness of your application and checks for legal compliance.
3. **Approval and Fee Calculation**
– Upon confirming completeness, IMPIC, IP grants approval and calculates applicable fees.
4. **Fee Payment and License Issuance**
– Pay the required fees as per the notification from IMPIC, IP to receive your real estate mediation license.
5. **Publication and Notification**
– Your license is published on the IMPIC, IP website, and cards for company representatives are issued.
Cost and Fees Involved
The cost of obtaining a real estate mediation license includes:
- – Licensing Fee: €100 (additional fees may apply based on specific circumstances)
- – Registration Fee: €50
- – Additional fees may be applicable for non-payment or late payment of fees.
Validity and Ongoing Obligations
– Real estate mediation licenses are valid upon issuance but require compliance with annual regulation fees.
– License holders must maintain civil liability insurance, uphold commercial integrity, and adhere to IMPIC, IP’s regulations.
Additional Information and Resources
For more detailed information on the real estate mediation licensing process, consult IMPIC, IP’s official website or contact their office directly. They offer comprehensive guidance and support throughout the licensing journey.
Conclusion
Securing a real estate mediation license in Portugal is a structured process that ensures individuals and companies meet legal and regulatory standards. By following the outlined steps and fulfilling specific requirements, you can obtain a license to operate as a real estate mediator in Portugal successfully.
For further inquiries or assistance, reach out to IMPIC, IP, the competent authority overseeing real estate mediation activities in Portugal. Start your journey into the real estate mediation industry with confidence, knowing you have the necessary information to navigate the licensing procedures effectively.
Source: eportugal.gov.pt and IMPIC
Read More: Real Estate in Portugal