AMI licence: what it covers
Authorises a company to practice real estate mediation in Portugal Law 15/2013
Requires civil liability insurance (minimum €150,000 capital cover)
Confirms no criminal record for the licence holder
Obligates the company to register all mediation contracts with IMPIC
AMI licence: what it does NOT create
No fiduciary duty to the buyer — the mediador's obligations run to the mediation contract, not to the buyer's best interests
No requirement to disclose that the agent is contracted by the seller
No obligation to search the full market on the buyer's behalf
No licensing category for buyer-only representation
No standard for commission transparency or splitting with buyer's representatives
No regulation of dual agency conflicts of interest
What no agent covers — the physical condition gap
Structural integrity, moisture, electrical compliance, unlicensed works under DL 10/2024 — none of these fall within any agent's scope, buyer's agent or otherwise