Tips for buying a home in Spain in 2021
Our legal department answers the most common questions asked to us to buy a home in Spain.
Buying a home in Spain is a simple task if you are accompanied by the appropriate experts, if not, we can assure you that the transaction can be enormously complicated.
If I am a foreigner, what documentation will I have to prepare to buy a house in Spain?
Well, the first thing a foreigner needs is to have the NIE, the Immigration identification document. This NIE can be requested at the Spanish Consulate of the country of the future buyer or here in Spain through the National Police, in the Department of Immigration.
From here, if they have the NIE, what the future foreign buyer will need is to open a bank account in Spain where they can bring funds from their country and later pay all the expenses derived from that sale.
From here on, what a foreigner needs more than anything when he wants to acquire a home in Spain, is to be accompanied by the hand of a Real Estate Specialist who will accompany him and inform him of both the fiscal, civil and urban aspects of said sale.
I need the Golden Visa. How do I get it?
To obtain a Golden Visa the first thing that is needed, the most important requirement is to be qualified as an investor. And to be qualified as an investor, you will have to make a sale of an amount equal to 500,000 euros or more. From here it can be a sale of a property or several properties, but always the amount must be five hundred thousand euros without charges. Voucher? This means that these five hundred thousand euros have to be free.
Later, obviously, when the sale has been made, the documents that are needed to request the Golden Visa are the deed of sale, the entry in the Property Registry that is presented for registration and the settlement of taxes.
Where can you apply for the Golden Visa? If you are in Spain, if the buyer has stayed in Spain for a while, you can request it here, and if you have already gone to your country, you can request it at the Spanish Consulate of the buyer’s country.
Who helps me with tax issues in Spain?
I always recommend that with tax issues you have to go to a lawyer or a tax manager. It is he who is going to advise you on everything, all the benefits and all the deductions that an investor may have.
Obviously, if you are going to make a much higher investment of five hundred thousand, or even five hundred thousand, what is recommended is that prior to the purchase a consultation is made to see where that money is going to come from, what are the repercussions what are you going to have in your country, what are the tax repercussions you are going to have here, what are the taxes you are going to have to pay.
Therefore, the tax issue has to come from the hand of a professional who is dedicated only to tax issues.