The combination of our highly- skilled team in Costa Blanca Booking, with experience in fiscal, legal and technical areas, enables us to offer our customers a comprehensive service, without leaving Costa Blanca Booking facilities.
When looking for a property, our team is continuously assisting our customers’ needs, not only during the buying process but also afterwards. This is the reason why most of them come back to us.
Requirements when buying a house in Spain
At the moment, there are no special requirements. Any natural person or company from another country can buy a property in Spain.
Foreigners’ Identification Number – NIE
The Foreigners’ Identification Number (NIE) is a personal and invariable number, which is used to identify foreigners in Spain. It has nothing to do with being resident in Spain and it can be obtained at:
- The police station, nearest to the property that a customer will buy (Costa Blanca Booking can take care of this)
- In the Spanish Consulate in the country of origin.
- With a power of attorney to any trusted third party
Foreign companies can obtain the CIF number in the tax office.
In most cases, the fastest and easiest way to pay for a property is with a banker’s draft issued by a Spanish bank. It is not advisable using bankers’ drafts from foreign banks nor making a transfer directly to the vendor before the property is officially in the buyer’s name. Furthermore, the seller doesn’t usually want to sign the purchase-sale deeds until he has been paid.
All utilities, community fees, etc. will be transferred to the buyer’s account, which has to be opened in a Spanish bank. In Costa Blanca Booking we can inform our customers and put them in contact with the banks of the area.
The ways of obtaining financing in Spain depend on the bank and the area, but as a general rule, it will be a variable percentage of the valuation (or final price, if it is lower than the valuation), depending on the buyer´s income.
Costs related to a property purchase
The costs when buying a property are around 12% of the selling price, no matter if our customer is foreigner or local. These costs are as follows:
- Property registry’s fees
- Notary’s fees
- Transfer tax: this is paid only when purchasing second-hand properties. In the Valencian Region, this is a fixed percentage of 10% of the selling price and it has to be paid after completing the purchase-sale deeds.
- Value Added Tax (IVA): this is paid for new constructions. At the moment, the percentage to be paid as IVA amounts to 10% of the selling price.
- Stamp duty: only for new constructions. These costs amount to 10% the Valencian Region.
- Other costs: connection fees, utilities contracts, obtaining NIE number and administrative fees, etc.
- Local Property Taxes (IBI) and rubbish collection fees.
If the seller is non-resident, the buyer is obliged to hold 3% of the agreed price. This amount has to be paid to the Spanish Tax Office as a payment on account to cover the capital gain taxes for any capital increase that the vendor may have had.
In Costa Blanca Booking, each step is carried out with absolute attention to detail. Our team will assist our customers in each and every of the stages, while ensuring that the purchase-sale is completed as per current regulations.
Costa Blanca Booking also offers the following services to our clients:
- Contracting or transferring utilities, such as water, electricity, gas, etc.
- As exclusive Agents of Allianz, we issue home/car/ health insurance policies or any other sort or insurances that our clients may need.
- Assisting our clients to contract a landline telephone or internet connection.
- Changing the property into the new owner’s name in the SUMA office as well as arranging standing orders for the payments of IBI and rubbish collection fees.
- Changing the community fees in the name of the new owners, if there were any, and arranging standing orders.
- Registering as a contributor to the tax authorities to pay taxes from the buying of the property, to receive annual tax returns as well as making the tax return.
- Registering our customers in the Tax office in order to be able to make all the necessary tax payments related to the purchase of the property.
CBB also has an extensive network of partners from all the sectors, which enables us to find the best solutions for any refurbishment projects or maintenance works that our customers might need.