All EU citizens are eligible to buy Spanish property and the process is fairly straight forward. For non-EU nationals, certain restrictions may apply depending on the country in question. However, there are also residency advantages for non-EU citizens under the Golden Visa scheme. This provides non-EU citizens who make an investment in real estate of €500,000 or more free travel between their country of residence and Spain. We can provide more details of this scheme.
Anyone who is looking to purchase property in Spain will require an NIE number (Número de Idenitifcación Extranjero). This is fairly straightforward to obtain and any lawyer will be able to assist in this matter. It may also be an advantage to set up a Spanish bank account
A Notary overseas all property transactions in Spain. They will validate any paperwork, carry out the necessary title checks, check taxes are paid and register the property in the Spanish Land Registry.
It is always recommended to employ a legal representative on your behalf. They will be able to check legalities of the purchase and the property you are purchasing.
On top of the purchase price of the property, the guide is to allow for an additional 10-15% for fees and taxes. This may include the following:
The Golden Visa scheme offers residency for non-EU nationals and their immediate family for making an investment in real estate of a minimum €500,000. Free travel and residency is given for one year and is renewable thereafter every 2 years. After 5 years, citizenship can be applied for.