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What should I know as a non-resident buyer in Spain?


Currently, ”Spanish brick” has become one of the focal points of foreign capital worldwide, especially the communities of Catalonia, Madrid, Andalusia and the Balearic Islands. Some, to retire surrounded by beaches, good food and the good Spanish atmosphere. Others, simply by pure investment. The truth is that in any case, buying a home in Spain has become a safe investment with a very attractive return.


The price of rentals (both long-term and tourist) has been at record highs in 2019. In 2018, 12.54% of purchases produced in Spain were made by foreigners.


As far as financing is concerned, a foreigner or a non-resident person can obtain on average between 50 and 70% of the financing for the purchase of a property. Percentage higher than many countries, and which, makes things much easier, offering the possibility of investing in more than one property the money transferred to Spain.

The residents of the European Union, have practically no problems when entering their money in Spain, since the union, in most countries, is governed by the same regulations of money laundering. Even so, each bank has a protocol to follow and we must adapt to it.

However, when the money comes from a country outside the European Union, the issue is complicated. We must open a non-resident account in a Spanish bank, and they will ask us for a series of documentation from the country of origin. Said documentation must be translated and apostilled to be analyzed later by the financial institution in question. This process can take several weeks (depending on the entity), so it is very important that it be done in advance. Once the non-resident account in a Spanish entity is opened, the money from the country of origin can already be transferred, and this time, it will only be necessary to demonstrate how and where it was generated, so that the Central Bank of Spain can ensure That money does not have an illicit origin.

The first half of this year 2019, a total of 53,359 operations carried out by foreigners in Spain have been registered. This represents a growth of 5.4% in relation to the first quarter of 2017.

In summary, before starting to look for housing in Spain, it is essential to be well advised and prevent possible problems so that they never happen.

At Silver Wolf, we are specialists in management and intermediation with international buyers. So if you are thinking about buying and you like to do things well, it will be a pleasure to help you get it.

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