How to transfer money to Portugal?

Buying a property abroad can be an incredibly exciting but stressful time. A good preparation makes all the difference; whether it is about finding the right property, choosing the right lawyer or transferring money to another currency.

If the money to purchase your dream property is currently available in British Pounds, US Dollars or Swedish Krona or one of the many other currencies, you will have to exchange to Euros to buy the property. 

As exchange rates fluctuate by the second, it is really important to plan your exchange accordingly and start with this in an early stage. It can take several weeks to months before you have found the right property and again a few weeks or a few months before the sale will be completed. The exchange rate will move during all that time. To avoid paying much more for your property abroad, making a plan for the money to be transferred to Portugal is a smart decision! 

How does it work?

Step 1
Work out your budget in your current currency and include buying costs, lawyers fees and taxes. Consult your lawyer or estate agent if you need help to work out these figures.
Whether you will be converting Pounds to Euros, US Dollars to Euros or any of the other currencies, it is important you establish your budget first.  
 

Step 2
Speak to a professional at GC Partners and you will then have a guideline of how much your Pounds or Dollars are worth in Euros and how much you have available to spend on your new home in Portugal. GC Partners can explain to you exactly how the exchange rates have been moving over a period of time and what a realistic exchange rate is and how to help you achieve a better rate than your bank.

Step 3
Once ready, GC Partners can help you convert your money securely, not only for your property purchase, but also for any ongoing bills, mortgage payments or (future) pension transfers and anything else you may require. Often it is advisable to already start converting even befor you have actually found the right property as you might have more funds in Euros available when exchanging on the right moment. Planning this in advance is smart and in some cases leads to gaining thousands of euros more then when having the funds exchanged on the day of the purchase. 

With offices in the UK, Portugal, Dubai, Spain and Luxembourg, the team of GC Partners are on hand to meet and discuss your requirement at any time. If you wish to discuss the advantages of your exchange, fill in your details here and GC Partners will contact you.