Most often, when it comes to real estate in Spain, we remember the beautiful villas, from the windows of which you can see the sea. A good option for a family holiday or permanent residence. But more promising and much more successful may be the purchase not of the building itself, but of the land plot. Such an investment will be a profitable start of business or the first step towards the construction of a cottage, non-residential premises or the beginning of the development of the agricultural economy. But let's see if a foreigner can buy the land, what are the nuances and pitfalls, to which it is necessary to pay attention so as not to make a headache.
The legislative framework
The legislation of the Spanish kingdom, in contrast to many other states, does not prevent foreign citizens from buying a lot. But there are some points that must be observed:
- Lands located on the coast belong to the kingdom. Therefore, you can buy a place with a certain distance - no closer than 150 meters from the coast.
- Any buildings are carried out only in those places where building is allowed. Stop on this point and be sure to check it with the seller.
Types of sites in Spain
Before you make a deal, you should find out for what purposes this or that territory is intended. Such information can be obtained from the municipality of each region. There are three target options:
- Real estate located in settlements, intended for any buildings. They already have connections for electricity, water and sewage.
- Land plots that capture not only the territory of the city, but also nearby rural plots. They are intended for capital construction.
- Territories of historical significance intended for agriculture. On a municipal property, a farmer has the opportunity to install only one building for personal use and management.
When choosing a site, consider the factor that putting on the same size can cost quite differently. It depends on many indicators:
- The farther from the sea, the cheaper;
- Due to the mountainous terrain, it is not so easy to find a perfectly level place for construction. The smoother the surface, the higher the price.
- The presence of existing buildings is also taken into account when selling.
- Madrid and Barcelona are capitals. So the plots in these cities will be an expensive pleasure. If your goal is low-cost land, pay attention to the provinces.
Expenses when making a deal
The conclusion of the contract of sale is not limited only to the value of the object itself. In order not to miss any important points, use the service of an interpreter who will accompany you in all negotiations. These are additional costs, but they will protect the buyer from unexpected obstacles.
A notary is a person without whom no agreement can do. His services are paid for separately, but in most cases it is he who will act as a state registrar to take ownership.
To take into account all the nuances and do not get into a mess, contact a lawyer for help. He will check all documents and accompany the agreement. If you make a purchase through an intermediary, you must pay from 20 to 50% of the contract amount.
Land taxes
Once you determine the location, terrain, and other important characteristics, you can calculate the tax to be paid.
The seller is a legal entity. Thus, you acquire the assets of the company and are obliged to pay VAT in the amount of 21%, as well as payment to the treasury of about 1%.
If the seller is a private person, instead of VAT, the state duty is paid, the amount of which depends on the region. This is a kind of fee for the transfer of rights to use the plot, it usually amounts to 10% of the total amount.
If you do not plan to build a house within the first year after the acquisition, you will have to pay another 8% tax.
The procedure for the purchase of land
The Spanish kingdom is one of the most loyal states for foreigners to purchase land. It not only does not prevent this action, but also provides some advantages. For example, according to the law “Golden Visa”, the buyer has the authority to obtain a long-term visa for himself and his close relatives - children and parents. When you receive a residence permit, you get all the same rights as residents.
The notary will ask you to provide the following documents:
- International passport;
- Bank account in Spain;
- An identification number;
Having a visa does not affect the purchase. Even if you have it expired - it will not interfere.
Before buying, you must request the following:
- Registry statement about the number of owners.
- Information sheet about debt obligations (their presence and absence)
- Cadastral number;
- Proof of payment of tax fees;
- Data on construction restrictions and easements on the selected object.
If a building is planned to be built on a purchased site, it is better to get additional advice from the architect. The fact is that in the kingdom there are certain restrictions on the height of the building, its appearance, the color of the walls and the height of the fence. Such subtleties are considered on a case by case basis. But there are factors that apply to absolutely all regions. For example, cutting down trees is prohibited, even if woodland is at your disposal. If you do not want to pay a large fine, coordinate your actions with the local administration and get legal permission for this maneuver. This moment is not stipulated in advance, so unknowingly you can make yourself exorbitant problems.
Conclusion
To acquire a land lot in the kingdom is not only the prospect of profitable housing, but also the opportunity to open a business and get financial stability. There is an opportunity to grow grapes for further production of wine. And if centenary olive trees grow on your territory, you can get good oil without any problems. The harvest you just need to start at the creamery and get the finished bottled product with its own label.
Breeding cattle or growing vegetables is a profitable business. All this should be carefully considered, choosing the appropriate microclimate and relief for successful business development.
Carefully read the question of how to buy land in Spain, the nuances of the transaction, documentation, and so on, so that everything goes well and without incident.