Buying Property in Spain: Documents, NIE, Bank Account and Process

What documents are required to buy property in Spain?

To purchase property in Spain, you will need:

1. a passport or valid ID;

2. a Foreigner Identification Number (NIE);

3. a Spanish bank account (recommended, though alternatives are possible);

4. proof of funds (bank statements, certificates);

5. a notarized power of attorney if purchasing through a representative.

Our team assists you in preparing all documents and guides you through every step of the process.

Do I need Spanish residency to open a bank account?

No, Spanish residency is not mandatory. In most cases, banks require:

• a valid passport;

• a NIE number;

• proof of tax residency;

• financial documents upon request (statements, contracts, income confirmation).

Banks assess each case individually. We review your situation and suggest the most effective solution, including options for clients with accounts in the EU, Dubai, or Turkey.

Is obtaining a NIE mandatory?

Yes, a NIE is required to buy property in Spain and to carry out any legal or financial transaction.

You can obtain it:

• in person at a police station in Spain;

• through a legal representative;

• at a Spanish consulate in your home country.

We assist with appointments and the full application process.

How does the purchase process work?

The process usually includes:

1. Defining your goals, budget, and timeline.

2. Property selection based on your criteria.

3. Online viewings or on-site visits.

4. Property reservation and deposit if required.

5. Legal due diligence by a lawyer.

6. Signing the purchase deed before a notary.

7. Property registration and transfer of utility contracts.

How long does the purchase process take?

On average, between 2 and 6 weeks, depending on document readiness, property type, and negotiations with the seller.

What additional costs should I expect in Marbella?

• Taxes: 10% for new builds, 7% for resale properties;

• Notary and land registry fees;

• Legal fees, usually around 1%;

• Translation, NIE, and bank-related costs depending on the case.

We calculate all expenses in advance to avoid surprises.

Is hiring a lawyer necessary?

Yes. A lawyer ensures legal security by verifying the property, preparing contracts, and protecting your interests throughout the transaction.

Can I buy property remotely?

Yes, property can be purchased remotely through a power of attorney. We regularly manage such transactions, including rentals and property management.