If you are interested in buying or selling a house in Spain, but are not a resident, then you need not worry. In Spain, there are no restrictions upon non-residents, since they enjoy the same opportunities and rights any Spanish citizen would have at the moment of buying a property.
The same goes for selling a house, as non-resident foreigners can sell any property in Spain without restriction. However, in this latter case it is important to keep in mind a few key features so that such legal action can be performed without errors or complications before a notary or when registering with the property registry.
As common practice dictates, the purchase or sale of a property always requires that there be a public deed and that it be presented before a notary for registration in the property registry.
This process will have the function of a liquidation of the capital gains tax, such as that of a liquidation of the tax for patrimonial transmissions and legal acts, or such as VAT, depending on whether it is a new property or a second-hand property.
So, what are the key points you should keep in mind? In this case, it depends on whether you want to buy or sell in Spain as a foreigner or as a non-resident. As indicated by the Personal Income Tax Law in article 9, a person who meets the following particularities will be considered as a resident:
- Lived for more than 183 days in Spain.
- Is a spouse, not legally separated, and with children who are minors who reside in Spain and who depend on the person.
- Has his/her main economic activities within Spain, either directly or indirectly.
Taking into account the above information, people who are foreigners or non-residents and who comply with any of the three points above, will have to keep in mind different considerations depending on their situation.
For example, if you the purchasing party are a foreigner or a non-resident, you will be required to submit a public deed and an NIE document, alongside which a standardised application form is attached and signed. You will also have to present your passport and a copy, among other information.
This may vary depending on other scenarios, so it’s always worth researching as much as possible according to your status.
Courtesy of the Olive Press
