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Purchasing Property in Spain Legal Services
Gain peace of mind with transparent and straightforward legal advice for buying property in Spain as a foreigner. Secure your ideal home or investment with confidence.
Purchasing Property in Spain Legal Services
Gain peace of mind with transparent and straightforward legal advice for buying property in Spain as a foreigner. Secure your ideal home or investment with confidence.
Buying Property in Spain as a Foreigner
Spain’s real estate market offers an exciting range of opportunities—from stunning coastal villas to chic urban apartments in vibrant cities like Madrid and Barcelona. With its stable economy and rich culture, Spain is an attractive destination for foreign buyers seeking holiday homes, permanent residences, or investment properties. Navigating the process as a foreigner, however, comes with legal complexities, which is where Lexidy’s expert legal support steps in to make the process smooth and secure.
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Embrace Borderless Opportunities with Lexidy
Embrace Borderless Opportunities with Lexidy
Buying Property in Spain Process
1. Securing an NIE and Spanish Bank Account
The first step for foreigners wishing to buy property in Spain is obtaining an NIE (Número de Identificación de Extranjero), which is essential for all transactions in Spain.
You’ll also need a Spanish bank account to facilitate financial transactions. Our Real Estate lawyers can assist with both obtaining your NIE and setting up your bank account, streamlining these crucial steps.
2. Property Search and Evaluation
Begin by selecting properties that match your criteria using trusted and reliable sources. Evaluate potential investments carefully to find the best fit for your lifestyle or investment goals.
3. Tax and Budget Planning
Understanding the financial implications is key. Expect to cover various costs, including:
- Property transfer tax of 6% to 10% for existing properties, or a 10% VAT for new constructions.
- Notary costs, title deed tax, and land registration fees, which typically range from 1% to 2.5%.
- Legal fees are approximately 1% to 2% of the property price, inclusive of VAT.
4. Reservation Agreement and Letter of Intent
Secure your property choice through a reservation agreement that outlines the terms of purchase and ensures the property is taken off the market as you finalize your plans.
5. Finalizing the Purchase
Finalize your property purchase by signing the final deed with a notary, using your NIE for the transaction. Ensure all relevant taxes and fees are settled, and the property is registered in your name at the Land Registry.
Explore the Buying Property in Spain Process
Explore the Buying Property in Spain Process
Delve into the detailed steps of buying property in Spain with our informative video guide. From obtaining your NIE to closing the deal, learn about each critical phase to ensure a smooth and successful property acquisition.
How Can A Lawyer Help Me Purchase a Property in Spain?
Buying property in Spain as a foreigner opens up exciting opportunities, but the process can be complicated by local laws, taxes, and bureaucratic hurdles.
Here’s how Lexidy’s experienced real estate lawyers guide you through a secure and smooth property purchase:
Streamlined Legal Process
Cut through the red tape with ease. Experience a smoother property purchase with expert guidance, making the complex feel effortless.
Expert Negotiation
Secure the best terms for your property deal. Our lawyers negotiate on your behalf, ensuring your interests are always protected.
Thorough Due Diligence
Avoid hidden surprises. Our lawyers conduct comprehensive checks for any encumbrances, like liens or mortgages, ensuring a clean and clear property title.
Seamless Ownership Transfer
Transition ownership without a hitch. We handle all bureaucratic steps and ensure all necessary documents are correctly filed, making the transfer process smooth and legally binding.
Tax Guidance
Navigate the financial landscape confidently. Get expert advice on tax implications, including stamp duty and capital gains tax, ensuring full compliance and optimal financial planning.
Ready to Secure Your Property in Spain? Let our expert lawyers guide you every step of the way for a smooth, secure purchase.
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Work
Voices of Satisfaction
Voices of Satisfaction
How it Works
1
Assess Your Eligibility
Start by determining your eligibility with a focused consultation. Your dedicated Legal Advisor will understand your situation and explore possible legal paths.
2
Service Presentation and Proposal
Receive a detailed presentation of our services tailored to your needs, complete with a fixed-price proposal to ensure no surprises.
3
Begin Your Journey
Your dedicated lawyer will guide you through every step, handling all legalities as you confidently move forward.
How it Works
1
Assess Your Eligibility
Start by determining your eligibility with a focused consultation. Your dedicated Legal Advisor will understand your situation and explore possible legal paths.
2
Service Presentation and Proposal
Receive a detailed presentation of our services tailored to your needs, complete with a fixed-price proposal to ensure no surprises.
3
Begin Your Journey
How it Works
1
Assess Your Eligibility
Start by determining your eligibility with a focused consultation. Your dedicated Legal Advisor will understand your situation and explore possible legal paths.
2
Service Presentation and Proposal
Receive a detailed presentation of our services tailored to your needs, complete with a fixed-price proposal to ensure no surprises.
3
Begin Your Journey
Your dedicated lawyer will guide you through every step, handling all legalities as you confidently move forward.
How it Works
1
Assess Your Eligibility
Start by determining your eligibility with a focused consultation. Your dedicated Legal Advisor will understand your situation and explore possible legal paths.
2
Service Presentation and Proposal
Receive a detailed presentation of our services tailored to your needs, complete with a fixed-price proposal to ensure no surprises.
3
Begin Your Journey
Kickstart Your Property Journey in Spain Today
Take the first step towards owning your dream property in Spain with tailored legal support that ensures a smooth and secure transaction.
Clients Frequently Choose
Tax Consultation
Avoid tax surprises with our comprehensive tax consultation services. Get expert advice and strategic planning to ensure a smooth tax season and financial peace of mind.
Discover our Long-Term Program
Join Lexidy’s Long-Term Program now and enter a world of enhanced, efficient, and personalized legal services. Unlock a range of premium benefits:
- 10% discount on your next service.
- Invites to our office events and networking.
- Personalized reminders and service upkeep, fewer worries.
- Free Consultation.
- Fast-tracking and client priority (Responses to queries within 24 hours from our multilingual, expert legal team).
Global Reach, Local Expertise
Global Reach, Local Expertise
Transform the complexities of purchasing property in Spain into a seamless experience. With local offices in key locations, get clear, straightforward legal guidance exactly where you need it.
Barcelona
- Avinguda Diagonal, 442, 3º 1ª, Barcelona, 08037
- +34 938 07 40 56
Madrid
- Calle Villalar 7, Bajo Izquierda, Madrid, 28001
- +34 915 367 806
Málaga
- Paseo de Reding, número 43, 1º Planta, Puerta Izquierda, 29016
- +34 951 12 53 70
Lisbon
- Rua Joaquim António de Aguiar n.º 43, RC Esq, Lisbon, 1070-150
- +351 21 027 0734
Porto
- R. do Mal. Saldanha 109 office 5, 4150-025 Porto, Portugal
- +351 21 027 0733
Athens
- Patriarchou Ioakeim 25 Street, Kolonaki, Athens, 10675
- +30 21 1199 5654
Paris
- 21bis Boulevard de Port Royal, 75013 Paris
- +33 1 76 40 35 43
Milan
- Via California 23, 5th Floor, 20144 Milan MI, Italy
- +39 02 8295 6347
Mexico
- Blvd. Manuel Ávila Camacho 137, Piso 3 Comunal, Polanco III Secc, Miguel Hidalgo, 11550 Ciudad de México, CDMX
- +52 55 8957 7841
Frequently Asked Questions
1. Can foreigners purchase property in Spain?
Yes, there are no restrictions on buying residential or commercial property in Spain. The country encourages overseas investment in real estate. For example, investors can apply for a Golden Visa if they spend €500,000 or more on any real estate.
2. What real estate taxes do I need to pay when purchasing property in Spain?
All property owners in Spain must pay three different taxes annually:
- Residents: Income Tax, Real Estate Tax (IBI), and Capital Gains Tax.
- Non-residents: Income Tax, Real Estate Tax (IBI), Capital Gains Tax, and a Non-resident Property Tax.
3. Can I get Spanish citizenship if I buy property in Spain?
Yes, if you invest €500,000 or more in Spanish real estate, you can apply for residency with a Golden Visa. Our lawyers can assist you with this type of residency.
4. What taxes do I pay when buying a new property in Spain?
All new home purchases are subject to a 10% VAT on the value of the property and a 1.5% Legal Documentation Tax. When buying an existing property, you must pay a Transfer Tax (ITP), which is levied on a sliding scale depending on the purchase price.