Frequently asked questions about Spanish Property Law
Can you help me with the property taxes in Spain?
Yes, at Spaindesk we also have accountants and tax specialists that can assist you with the tax requirements that apply to selling, buying, and renting.
We offer personalized tax services for all stages of the process. Whether you need assistance with lodging taxes at Hacienda or filing your Spanish income tax return, we can help you.
Are there any hidden costs when buying property in Spain?
Hidden costs would be the cost for the real estate agent fees, legal fees, property taxes, municipal costs, land registry fees, and notary fees. One should calculate around 15% on top of the property.
I have inherited an estate in Spain, can you also help me with the inheritance tax?
Yes, we offer assistance with everything related to inheritance such as wills, probate, estate administration, and inheritance tax.
What is the process for buying a property in Spain?
The process for buying a property in Spain can vary heavily on the location and type of property. Our team can guide you through every step of the process.
Do you offer legal assistance to real estate companies?
Yes, our legal services around property extend also to other real estate companies such as developers, investors, landlords, and Spanish mortgage agents.
We provide tailored legal services to meet the demands of your company and its clients.
Can I purchase property from a distance?
Yes, you can, whether you live in the US, UK, France, Germany, the Netherlands or any other country.
Through Spanish law, we can assist you with the Spanish property registration process, without you leaving the country. By signing a power of attorney, we can take care of everything on your behalf.
How long does it take to buy a Spanish property?
The time varies based on several factors such as location, type of property, nationality, and Spanish law. For example, when you are buying off-plan, it can take from 3 months to a year before completion.
Can I buy a house in Spain being a foreigner?
Yes, the only thing you need is to have the NIE (Número de Identificación de Extranjeros/ Foreigner Identification Number). The purchase is made before a public notary and presented in the Registro de la Propiedad / Property Registry. Contact us for complete guidance.
How are capital gains taxed in Spain?
When selling property in Spain, you will need to pay capital gains tax. Any capital gain from the sale or transfer of assets located in Spain has a fixed tax of 24% or 19% for non-residents. It is 19% if the non-resident is from any other country of the European Union, Iceland or Norway.
If you’re a resident, you are applied to a scale of 19% to 26%. Contact us if you have any questions about the capital gains tax in Spain, we can take care of the declaration for you.
Are there any taxes and/or fees that need to be paid to buy real estate in Spain?
Yes, there are a few property taxes you will need to pay such as the Impuesto Sobre Bienes Inmuebles (IBI), which is based on the value of the property; and in some cases the Impuesto de Patrimonio (wealth tax), which is a yearly tax paid on assets. Contact us for full assistance on what taxes and fees apply to the purchase of your property in Spain.
Can I obtain Spanish Residency for buying a property?
Yes, if you have invested at least 500,000 euros and are a resident of a non-EU country, you may be eligible for a Golden Visa in Spain. We offer an extended service package that includes purchase guidance and a Golden Visa application. Contact us for more information.