Spain welcomes foreign buyers with no nationality restrictions. The buyer needs an NIE (Número de Identidad de Extranjero) before completion, and most buyers open a Spanish bank account to handle the deposit and ongoing charges. An independent lawyer (abogado) is strongly recommended — the notario only checks the deed, not the wider title.
The buying process
- 1
Get an NIE
Apply for the foreign-resident tax number at a Spanish consulate, police station, or via a representative with power of attorney.
- 2
Open a Spanish bank account
Needed for the deposit, taxes, mortgage payments, and utilities.
- 3
Engage an independent lawyer
Lawyer runs title, debts, planning, and community-of-owners checks — the notario will not.
- 4
Reservation contract
Small deposit (€3,000–€10,000) takes the property off the market while due diligence runs.
- 5
Sign the contrato de arras
Private purchase contract with a 10% deposit. If the buyer pulls out they lose it; if the seller pulls out they pay double.
- 6
Sign the escritura pública
Final public deed signed before a notario; balance and taxes paid; keys handed over.
- 7
Register the property
Lawyer registers the deed at the Registro de la Propiedad and arranges utility and IBI transfers.
Typical fees & taxes
- ITP (resale transfer tax)
- 6–10% depending on region (e.g. 10% Catalonia, 7% Madrid)
- IVA + AJD (new build)
- 10% VAT + 0.5–1.5% stamp duty
- Notario & Registro
- €1,000–€2,500 typical
- Legal fees
- 1–1.5% of price + VAT
- Annual IBI (council tax)
- 0.4–1.1% of cadastral value per year
- Plusvalía municipal
- Paid by seller, but check the contract — sometimes negotiated
Timeline
- Reservation to contrato de arras
- 2–4 weeks
- Arras to escritura
- 4–8 weeks
- Total typical timeline
- 2–3 months
What you'll need
- NIE (foreign tax number)
- Spanish bank account(optional)
Not legally required but standard practice
- Passport / ID
- Proof of funds / mortgage offer
Spain ended its Golden Visa property route in April 2025. Non-resident mortgages are widely available, typically 60–70% LTV. Non-resident sellers face a 3% withholding from the sale price (retención), claimable against capital gains tax. Always check community-of-owners (comunidad) debts and outstanding IBI before completion — they transfer with the property.
General guidance only — confirm specifics with a qualified local lawyer or tax adviser. Reference
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