Guide to buying a property in SPAIN for non-residents

1. Possess NIE.

What is the NIE: It is a personal, unique and exclusive sequential number that is essential to carry out any type of economic transaction in Spain.

To request the NIE, it can be done from outside Spain through the Spanish embassy or consulate in your country; or in Spain by going to an Immigration office or police station. To request it, you have to fill out a form EX15 which can be downloaded on the web in addition to paying a fee using the model 790 code 012.

2. Have a bank account in Spain.

Although it is not mandatory to have a bank account in Spain, it is necessary since all expenses related to the sale of the home as well as future bills must be paid in Spain. In other words, the payment for the purchase of the property is made via the Bank of Spain, either by bank transfer or by certified bank check. Cash payments are not made in the deeds, since they must comply with the regulations that prevent money laundering. In recent months to open an account number it has been mandatory to provide the tax number of your country due to the banking policy on money laundering.