{"id":1491,"date":"2023-04-21T09:56:56","date_gmt":"2023-04-21T09:56:56","guid":{"rendered":"https:\/\/www.abogadosmarconsultores.com\/?p=1491"},"modified":"2023-04-21T10:04:16","modified_gmt":"2023-04-21T10:04:16","slug":"la-compraventa-de-inmuebles-en-espana-por-extranjeros-2","status":"publish","type":"post","link":"https:\/\/www.abogadosmarconsultores.com\/en\/la-compraventa-de-inmuebles-en-espana-por-extranjeros-2\/","title":{"rendered":"THE PURCHASE AND SALE OF REAL ESTATE IN SPAIN BY FOREIGNERS"},"content":{"rendered":"
\n

Whether for the enjoyment of holiday seasons, to live or simply as an investment, the interest of foreign citizens in acquiring real estate in Spanish territory is increasing.<\/p>\n

But apart from Due Diligence, what is required to formalize the operation? What taxes must be paid? Below we explain everything a foreigner needs to know when buying and selling real estate in Spain.<\/p>\n

The purchase and sale of real estate in Spain by foreigners<\/h2>\n

The purchase and sale of real estate entails requirements and has certain different aspects if the foreigner involved in the purchase is a resident or non-resident in Spain. Let’s describe each case:<\/p>\n

Case 1. A non-resident foreigner buys a property in Spain<\/h3>\n

Regardless of whether or not the foreigner resides in an EU Member State, to buy a property in Spain you need:<\/p>\n

\u25cf The prior assignment of a NIE. It is the Foreigner Identification Number. It consists of a temporary or provisional NIE, only valid for 3 months, since it is a document intended for those foreigners who do not intend to live in Spain, but who must carry out some specific act with fiscal interest in Spanish territory.<\/p>\n

\u25cb Where is the NIE requested? If you are traveling in Spain, you can obtain it in person at the Foreign Offices in Spain. You can also grant a power of attorney in favor of a lawyer to manage the obtaining of this NIE in an easy and safe way. Another option is to request it at the General Consulate of Spain in the country where the foreigner resides. In any case:<\/p>\n

\u25cb The reason for the NIE request must be accredited, by means of a notarial document to certify that the sale of a property will take place.<\/p>\n

\u25cb If the request is made through a representative, a special power of attorney is required.<\/p>\n

\u25cf The opening of a bank account for non-residents. Although it is not a requirement, it is advisable to open a current account in Spain to make payments of the purchase price as well as the taxes derived from the operation and later, domicile the supplies of your new home in said account. Each banking institution has its own requirements and conditions. But you always need to present the NIE and the passport. In our Office we help you to manage the opening of the account without expenses.<\/p>\n

\u25cf The granting of power to third parties. If the foreigner does not travel to Spain for the sale, this power of attorney is absolutely necessary for his representatives to manage commercial and notarial aspects of the purchase of the property.<\/p>\n

\u25cf Where is the power granted?<\/p>\n

\u25cb Before a Spanish Notary, if the foreigner is in Spain<\/p>\n

\u25cb Before the Consulate of Spain, of the country in which the foreigner resides.<\/p>\n

\u25cb Before a competent foreign notary. But he needs to be apostilled and legalized. It is the least recommended option.<\/p>\n

Case 2. A non-resident foreigner sells a property in Spain<\/h3>\n

When a non-resident foreigner wants to sell the property that he owns in Spain, it is normal for him to have a NIE, since either he requested it when he bought said home, or he needed it to pay his non-resident taxes. However, for those non-residents who do not have a NIE despite being homeowners in Spain, you must also request the provisional NIE. And he needs to grant the necessary powers for the pertinent efforts.<\/p>\n

This sale operation is taxed by the following taxes:<\/p>\n

\u25cf Non-Resident Income Tax IRNR. This must be paid by foreigners who sell their property, provided they obtain a capital gain from that operation. That is, only in the event that the property has been sold for an amount greater than the amount paid for its acquisition, at the time. Spanish Law provides in these cases that the buyer will be obliged to withhold 3% of the sale price for its income in the public coffers, an amount that will later be deducted from the IRNR that corresponds to be paid to the non-resident seller.<\/p>\n

\u25cf Capital Gains Tax (IIVTNU Urban Land Value Increase Tax). Also in charge of the non-resident foreign seller.<\/p>\n

Case 3. The sale of a property in Spain by a resident foreigner<\/h3>\n

In this case, the resident foreigner must only have her current documents and carry out the ordinary steps that any national requires to buy a property in Spain. Being a resident, he has a permanent NIE, with which he performs each of his tax, commercial, labor and Social Security acts in Spain.<\/p>\n

In these cases, the resident owner of a home who intends to sell his property will be obliged, like any Spanish citizen, to pay two taxes: a) IRPF Tax on Capital Gain or Loss; b) Tax on the Increase in the Value of Urban Land, called municipal capital gains.<\/p>\n

The formalization of the sale of a property in Spain by a foreigner<\/h2>\n

The following procedures and documents are involved in the sale of real estate.<\/p>\n

The earnest money contract<\/h3>\n

The deposit contract is the private document by which the parties agree to buy and sell the property. You do not need certification before a notary. Basically this document protects each party.<\/p>\n

\u25cf If the sale is not made for reasons attributable to the seller, the seller must return double the amount received.<\/p>\n

\u25cf If the sale is not made for reasons attributable to the buyer, the buyer loses the amount of money delivered.<\/p>\n

The deed of the sale document<\/h3>\n

The purchase document is a public deed that must be executed before a Notary. The foreigner must be present only in case of not having granted the respective powers.<\/p>\n

Registration before the Registry<\/h3>\n

After the sale is notarized, the public deed must be registered with the Land Registry.<\/p>\n

The importance of coordination with the property cadastre:<\/p>\n

Until 2015, in most cases, the description of the properties according to the Property Registry, specifically regarding their ownership, boundaries and charges, is sufficient; As of the entry into force of Law 13\/2015, legal operators pay special attention that the property is coordinated with the Cadastre, Registry and Reality. In this way, in most cases, sellers are required to provide a Technical Report with the georeferenced graphic representation of the plot and house.<\/p>\n

In this way, the legal certainty for the buyer is much higher and there will be no doubt about the description of the property that you are acquiring in terms of surface, boundaries and location.<\/p>\n

At ABOGADOS MAR CONSULTORES we have more than 25 years advising and representing foreigners in purchase and sale operations. We are specialists in Property Law. And therefore, we can help you both if you are selling your property in order to check and update your situation; as if you are thinking of buying a home in the preparation of the entire process with legal certainty. Contact us. We are experts in buying and selling and we are committed to professional excellence.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Whether for the enjoyment of holiday seasons, to live or simply as an investment, the interest of foreign citizens in acquiring real estate in Spanish territory is increasing. But apart from Due Diligence, what is required to formalize the operation? What taxes must be paid? Below we explain everything a foreigner needs to know when […]<\/p>\n","protected":false},"author":3,"featured_media":1480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-1491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.abogadosmarconsultores.com\/en\/wp-json\/wp\/v2\/posts\/1491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abogadosmarconsultores.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abogadosmarconsultores.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abogadosmarconsultores.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abogadosmarconsultores.com\/en\/wp-json\/wp\/v2\/comments?post=1491"}],"version-history":[{"count":6,"href":"https:\/\/www.abogadosmarconsultores.com\/en\/wp-json\/wp\/v2\/posts\/1491\/revisions"}],"predecessor-version":[{"id":1501,"href":"https:\/\/www.abogadosmarconsultores.com\/en\/wp-json\/wp\/v2\/posts\/1491\/revisions\/1501"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.abogadosmarconsultores.com\/en\/wp-json\/wp\/v2\/media\/1480"}],"wp:attachment":[{"href":"https:\/\/www.abogadosmarconsultores.com\/en\/wp-json\/wp\/v2\/media?parent=1491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abogadosmarconsultores.com\/en\/wp-json\/wp\/v2\/categories?post=1491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abogadosmarconsultores.com\/en\/wp-json\/wp\/v2\/tags?post=1491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}