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8. Other alternatives for investing in Spain

8.2. Acquisition of real estate located in Spain

Set out below are the main legal formalities to be performed for the acquisition of real estate located in Spain:

FormalityAcquisition of real estate located in Spain
Attestation by public authenticating officerThe acquisition must be formalized before a Spanish notary or Spanish Consul abroad.
Documentation to be provided to the notary
  • Title to the property.
  • Powers of attorney, as the case may be, to appear in the name of the buyer or seller, as appropriate. If the powers of attorney were granted abroad, they must be duly legalized (See requirement 5 under section 4 above).
  • N.I.E./N.I.F. or Spanish national identity card of the buyer and the seller.
  • Declaration regarding the beneficial owner, both for the buyer and the seller, if legal entities: a notarial document containing representations by the beneficial owner may be provided or a declaration made in the sale and purchase deed itself (see requirement 4 under section 4 above).
  • Documentary evidence of payment and how the payment was made (specifically, if the price was received before execution of the deed, the amount and whether it was paid by check or any other money transfer document, or by bank transfer).
Subsequent declaration of the investment to the D.G.C.I.In some cases, prior declaration is required (see Chapter 1, section 8 for further information).
TaxesSee Chapter 3.
Registration at the relevant Property RegistryThe acquisition must be registered at the relevant Property Registry as soon as the sale and purchase deed has been formalized and the related taxes have been paid in order to ensure that acquirer’s property rights are duly protected.
Costs
  • Notary fee: the scale applicable for the formation of a subsidiary is also applicable here.
  • Fee of Spanish Consul abroad: the fee will be determined in the legislation in force on notarial fees.
  • Property Register fees: for guidance purposes, the official rates amount to €24 if the value of the property does not exceed €6,010, plus a variable rate of between 0.175% and 0.02%. The total fee is capped and may not exceed €2,181.