Buying property in Spain as a foreigner is straightforward — but only if you know the sequence. Skip a step and you'll lose weeks. Here's the process we walk every one of our international clients through.
Step 1 — Get your NIE
The Número de Identificación de Extranjero is your Spanish tax ID. You can't sign at notary or open a Spanish bank account without it. Your lawyer arranges it in one to three weeks, usually via a power of attorney so you don't have to fly in.
Step 2 — Open a Spanish bank account
Required for the deposit, notary payments and eventual utility direct debits. We introduce you to bankers we work with regularly — they understand non-resident onboarding.
Step 3 — Reservation contract
Once you've decided on a property, a small reservation deposit (typically €10,000–€50,000) takes it off the market while your lawyer runs due diligence — title, licences, debts, planning.
Step 4 — Private purchase contract (arras)
Within about 30 days, the arras contract is signed with a 10 % deposit. From here, if the buyer pulls out the deposit is lost; if the seller pulls out they pay double back.
Step 5 — Completion at notary
Usually 30–60 days after arras. The notary reads and executes the public deed (escritura), the balance is transferred, and keys are handed over. Same day, your lawyer registers the property in your name.
The costs on top
For a resale in Andalucía: 7 % ITP transfer tax, notary and land registry (~1 %), legal fees (~1 % + VAT). Total roughly 9–11 %. New-builds: 10 % VAT + 1.2 % stamp duty instead of ITP.
Financing
Non-resident mortgages are widely available at 60–70 % LTV. Rates and terms depend on your income, tax residency and the bank — private banks are usually the best route above €2M.
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