Property Transfer and Taxes in Spain

Property Transfer in Spain

Property Transfer and Taxes in Spain

Unbiased legal assistance is highly advisable when talking about Property Transfer and Taxes in Spain.
We offer an all inclusive package that tracks and monitor the full property process. We are Spanish attorneys which will help you with Property Transfer and Taxes in Spain. The services offered in the inclusive package are outlined below and include assistance regarding the documentation needed for the purchase of the house and the tax payments. The cost of the inclusive package is 0.8% of the total purchase price (€1,200.00 as minimum fee).
In the case of a regular purchase, where there are no unusual circumstances regarding the property we would normally:

• Complete a search with the Land Registry and Tax Authority archives.
• Arrange and write up a draft version, if needed, of the private deposit contract. (The “Arras” contract in Spanish).
• Contact the REA (Real Estate Agent) or the vendors to confirm details of the purchase (completion dates, which notary office to use and vendors details).

As well as completing the above, the inclusive fee includes:

• Assistance Applying for and obtaining the required NIE (Número de Identificación Extranjero: Foreigner’s identity card) which you may need to buy a house in Spain.
• Assistance Registering to the Spanish tax authorities and obtaining the compulsory tax codes you need to fill out the tax forms and the use of our business address as your compulsory notification address in Spain (A legal requirement for tax purposes in Spain), assist you in paying the taxes directly related to the purchase.
• We will help you obtain the compulsory certificate concerning the source of the funds being used for the purchase, which is a requirement under foreign investment laws for Spain and the E.U.

The above procedures can completed by us on you behalf but only if we are granted with a limited power of attorney to do so. In the case that you decide to do this personally in Asturias, we can assist you personally at the required offices with no extra charge. (The NIE can be applied for in the Spanish Embassy in the UK, but tax procedures must be done in Spain).

Some services are not included in the inclusive package. These include:

• The charge of an additional €120.00 in Asturias (€250.00 in Cantabria & Galicia) for personal assistance before the Notary on the day of signing to complete the contract. A Notary is a compulsory aspect of house purchasing contracts in Spain and has the legal duty to explain the meaning and complete scope of the purchase and the legal obligations of both parties in the operation.
• If you require a non-official written translation of the title deeds we can do that for you at a cost of €30 per page (12 point Arial font, double spaced). If an official written translation is required (for example: to show the title deeds to a UK authority or other official body), we will contact a Spanish Foreign Office certified translator. (NB. The translation of the deposit / Arras contract is included in the inclusive package fee).
• If payment is to be done using our client account (i.e. you transfer the required funds to a bank account which we then use to make all payments for the purchase, taxes, notary, Land Registry fees etc. on your behalf) we will also charge an additional 0.2% of the total purchase price.
• All fees are exclusive of 21% VAT, which will be added to the invoice.

You should expect the total amount of lawyer, notary and registry fees as well as taxes and any other expenses to total around 9% – 10% of the total purchase price. Any other legal services not directly related to the purchase need to be negotiated separately.