What are the requirements to buy property in Spain?


What are the requirements to buy property in Spain?

We can’t exactly blame anyone for wishing to buy a house in Sotogrande; this is, after all, an exceedingly desirable part of Spain in which to live, with so much to see and experience encompassing the best in leisure, sport, and dining. Or maybe you like the idea of purchasing a Sotogrande home as an investment, rather than as somewhere to live yourself?

Whatever the exact situation, you might be interested to know what the requirements are if you wish to purchase Spanish property. So, let’s take a look at them.

Your nationality doesn’t need to be a barrier to you acquiring a Sotogrande property

As someone from another country with an interest in buying property in Spain, you might be wondering whether they would even be allowed to purchase a home here.

And the short answer to that question is: yes, you are! Spain welcomes investment from foreigners, and this very much extends to its property market. So, you won’t be subject to any special requirements or paperwork imposed specifically in relation to you being a foreigner – well, apart from the need to have an NIE number, which we will touch on further below.

You will, of course, have some paperwork and other requirements to deal with, but these will be much the same as those for Spanish nationals buying property in Spain.

The one legal requirement that you will need to fulfil before moving ahead with your plan to buy a house in Sotogrande, is obtaining what is known as an NIE number, or Número de Identidad de Extranjero. This number, which will be specific to you, will be needed in order for you to carry out any kind of transaction in Spain.

Although foreigners can obtain an NIE by visiting a Spanish police station and presenting their passport, the process can take a few weeks if you are a national of a non-European Union (EU) state, such as a UK citizen, presently outside of Spain. If you need help with obtaining an NIE, we suggest that you ask your estate agent to assist in speeding up the process.

So, what other requirements are there for would-be home buyers in Spain?

To be honest, if you have an NIE number, that’s more-or-less it as far as the essential requirements are concerned! So, if that’s the case for you, why not begin to browse the extensive listings of Sotogrande property we make available via our estate-agent partners here at Property Sotogrande?

There is, of course, a longer step-by-step process to purchasing property here, as we have detailed previously on the Property Sotogrande blog. And there are certain other things you might need to do, depending on your particular circumstances and needs as a prospective home buyer here – for example, appointing a tax representative in Spain if you aren’t resident there.

Having a Spanish bank account will also help ease the process along, including by enabling faster payments. However, it’s not strictly a compulsory requirement.

Are you ready to start discovering the possibilities for your Sotogrande property search in 2023? If so, it could hardly be any easier to use the Property Sotogrande website to find and narrow down the properties that are most interesting and relevant to you. Good luck!