Spain
Are foreigners allowed to own property in Spain?
When we asked expats in Spain if foreigners are allowed to own property, they answered...
"The Prime Minister, Pedro Sánchez, announced in April 2024 that the Golden Visa residency by investment program which allowed non-EU citizens the right to reside and work in Spain by investing at least €500,000 in real estate will be scraped. Foreigners are still allowed to own property in Spain, however, but will no longer be able to use property as a pathway to residency. ," remarked another expat in Spain.
"Yes, foreigners are allowed to own property in Spain. Non-residents of Spain are able to purchase property in the same way as Spanish citizens, and the process is relatively straightforward. Foreigners are required to obtain a tax identification number from the Spanish tax office, and must also open a Spanish bank account in order to complete the purchase. In addition, foreign buyers must also obtain a NIE (Foreigner Identification Number) in order to complete the purchase," said a member in Spain.
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With over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.
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Balcells Group LawyersWith over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.
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Are foreigners allowed to own property in Spain?
If you live in Spain, newcomers to Spain would love to hear your answer to this question:
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
