Requirements to buy a house in Spain without being a Resident

buy a house in Spain

The role of foreigners in the real estate market

Legal requirements to buy without being a resident

To acquire a property in Spain without being a resident, it is essential to comply with certain legal requirements. Here here are the key steps:

  1. Foreigner Identification Number (NIE): The NIE is essential for any financial transaction in Spain. You can apply at a police station in police in Spain or through the Spanish consulate in your country of origin.
  2. Spanish bank account: You will need a account in a Spanish bank to manage the payments related to the purchase of the property.
  3. Contract of Arras: This is a preliminary contract agreeing the terms and conditions of the sale and a deposit of around 10% of the purchase price is usually paid.
  4. Public deed of sale: Buying and selling must be formalised before a Spanish notary. The notary will certify that all the documentation is in order and that both parties understand and accept the terms of the contract.
  5. Land registry: Once the deed has been signed, it is necessary to register the property in the Land Registry.. This ensures that the buyer is the new legal owner of the property.
  6. Payment of taxes and fees: The main taxes to consider are the Transfer Tax (Impuesto de Transmisiones Patrimoniales - ITP) or VAT if the property is new, and the Annual Real Estate Tax (IBI).

Which professionals can advise you

Notaries: The notary is a essential figure in the buying and selling process. Its function is to give public faith to the transaction and to ensure that everything is done in a transparent and legal manner.

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