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EnglishBuying a home or investing in Spain from Germany
What changes when you buy from Germany
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Frequently asked questions
How do I get a NIE?
You need a NIE, the foreigner identification number, to buy, sign at the notary and pay Spanish taxes, even if you never live in Spain. You can apply at a Spanish consulate in Germany or in Spain, with the purchase as the reason, or receive it when you register as a resident. We handle the application with you.
Which expenses can I deduct from my Spanish rental income?
As an EU resident, you deduct the expenses directly linked to the rental: IBI property tax, community fees, insurance, repairs, mortgage interest and the depreciation of the building, for example. Each expense must be justified and related to the income earned in Spain, so keep every invoice.
Which taxes do I pay in Spain each year as an owner?
The IBI, the yearly local property tax, and non-resident income tax at 19%, on the net rent or, if you do not rent the home, on a notional income. Spain's wealth tax applies to non-residents only on assets located in Spain, after an allowance of €700,000, and the solidarity tax on large fortunes only on taxable wealth above €3 million.
What happens when I sell?
Spain taxes the gain at 19%. As you are not resident in Spain, the buyer withholds 3% of the price and pays it to the Spanish tax office on account of your tax. If the 3% is more than the tax due, you claim the difference back. Under the treaty, Germany can tax the gain too and credits the Spanish tax. Under German rules, a private property sold more than ten years after purchase is generally not taxed in Germany.
Do I need to be in Spain to sign?
No. You can sign a power of attorney before a German notary, have it apostilled by the authority your notary indicates, usually the president of the Landgericht depending on the Land, then translated into Spanish. You can also sign it at a Spanish consulate in Germany. We organise the signing with you.
What does buying cost, and can I get a Spanish mortgage?
Count on roughly 10 to 15% of the price for taxes, notary, land registry and fees. The largest item on a resale property is the transfer tax, which each region sets, and we give you a detailed estimate for every property you consider. Spanish banks lend to non-residents, usually for a smaller share of the price than for residents. Alveo Finance, the Alveo group's mortgage broker, can look at the options with you.
