Buying an exclusive villa on the coast or a charming house in the interior of Marina Alta is the dream of many international buyers. However, the legal and administrative process can raise doubts if the system is unfamiliar.
Therefore, if your goal is to buying a home in Spain with complete peace of mind, in this guide we explain the essential steps and everything you need to know.
1. The NIE: Your entry key
The first essential requirement, and the most important of all, is to obtain the NIE (Foreigner Identification Number).
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What is it? It is your tax identification code in Spain.
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What do you need it for? Absolutely for everything: signing the contract, paying taxes, and even for registering electricity and water services.
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How is it obtained? You can apply for it at the Spanish consulate in your country of origin. Additionally, you can process it directly here, at a police station. Do it in advance to avoid delays!
2. Local bank account: Speed and security
Although it is not a strict legal obligation to carry out the operation, in practice it is a totally necessary step.
Having the money in a Spanish bank account will allow you to quickly manage the payment of taxes and notary fees. Likewise, in the future you will be able to set up direct debits for your community and utility bills without strange international commissions.
3. The Notary and the Registry: Total legal protection
In the Spanish system, security when it comes to buying a home in Spain goes through two key figures:
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The Notary: He is an independent public official who reviews the documents. His function is to certify that everything is legal and to sign the Public Deed of sale with you.
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The Property Registry: Once the deed is signed, it is mandatory to register the property in your name. This is what officially protects you as the sole and true owner of the property before the law.
100. 4. Taxes and expenses: Calculate the real budget
99. To the sale price of the property, you must always add between 98. 10% and an additional 12% 97. to cover the costs of the operation.
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96. If the property is new construction: 95. You pay VAT (10%) and Stamp Duty (AJD).
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94. If it is second-hand: 93. The main tax is the ITP (Property Transfer Tax).
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92. Fixed expenses: 91. To this, you must always add the notary fees, registration in the property registry, and agency management costs.
90. 5. Do you work remotely? The Digital Nomad Visa
89. If you are a foreign professional and your job allows you to telework, the 88. Digital Nomad Visa 87. is your best option currently. 86. This permit, regulated under the Startup Law, allows you to reside legally in Spain while maintaining your work activity with companies located outside the country.
85. It is one of the fastest and most demanded routes for international investors and professionals who choose the climate and quality of life of the Mediterranean coast to establish their residence.
84. Our Fyhom advice for a secure purchase
83. Before signing any document, make sure the property has the 82. Energy Performance Certificate 81. in force (it is legally mandatory for selling). On the other hand, always request a 80. Nota Simple (Property Registry Extract) 79. in the registry to verify that the house has no debts or mortgages from the previous owner.
78. In summary, having expert, transparent, and personalized real estate advice is the best guarantee to enjoy the entire process with absolute security. At In them 77. we make sure every step is simple and without surprises!
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