Property transfer tax 6–10% (existing properties) / VAT (or IVA) at 10% (new properties);
Notary costs, title deed tax and land registration fee 1–2.5%;
Legal fees 1–2% (including VAT).
The estate agent’s fees are usually paid by the seller, and this is typically their only cost. Estate agents usually charge a percentage, typically around 3% of the final sale price.
1. Power of attorney.
The founders must give sufficient powers of attorney to the person who will set up the new company on their behalf in Spain.
2. NIE or NIF for the foreign partners and administrators.
In those cases where a non-resident is to be appointed as an administrator, that person may grant powers of attorney to request their NIF or NIE (depending on whether the new administrator is a natural person or legal entity).
3. Company name clearance certificate.
An application should be made to the Central Registry for a certificate confirming the desired name is available and can be used by the new company, and has been reserved.
The application for the company name clearance certificate may be performed electronically by a Notary Public.
Although the certificate is valid for three (3) months and must be renewed if the new company is not constituted within that period, no other person may reserve that name during an additional period of three (3) months, meaning the name is effectively reserved for a total of six (6) months.
4. Bank certificate stating that a capital allocation has been made.
The amount payable in cash at the time the new company is incorporated is usually deposited or transferred to a bank account opened in Spain in the name of the new company, with the words “sociedad en formación” (“company in process of incorporation”) added. To open this account, the bank will request a document certifying that the procedures to incorporate the company are underway: this normally involves a copy of the clearance certificate for the name of the new company.
The receipt issued by the bank for the capital allocation deposited is included in the articles of incorporation.
5. Documents to be submitted to the Spanish Notary Public.
In addition to the documents listed above, the following documents are required:
The bylaws (articles of association) of the new company, with the minimum content required by Spanish law.
The original legitimating identification documents of the persons setting up the company.
A duly-completed foreign-investment declaration (models available through the AFORIX download at the following link: Aforix). Although merely informative, this document is mandatory and must be submitted to the Directorate General for Trade and Investment of the Ministry of Commerce within one month of the new company being incorporated. The Notary Public can take care of this if so requested.
6. Beneficial ownership statement.
Notaries public must identify the natural persons (name, nationality and identification number) ultimately owning or controlling, directly or indirectly, more than 25% of the capital or voting rights of the legal persons involved, or that direct or indirectly exercise control over the management of such legal persons by other means. Companies listed on a regulated market in the European Union or other similar countries are excepted.
7. NIF (Provisional Tax Identification Number) before the Spanish Tax Agency. Notaries public may request this NIF electronically.
8. Settlement of Asset Transfer Tax and Stamp Duty. As documented by the settlement offices corresponding to the company’s registered offices.
9. Documentation to submit to the Companies Registry.
The public deed of incorporation must be submitted. It may be submitted electronically by the Public Notary.
10. The definitive NIF from the Spanish Tax Agency.
11. Official books and ledgers legalized with the Companies Registry.
12. Official declaration of start of activity before the Spanish Tax Agency, if applicable.
13. Company Social Security registration, if applicable.
It is advisable for 2 reasons. Firstly, it is a slow and expensive process to get your foreign will recognized in Spain, and makes it much easier for your heirs. Secondly, if a foreign property owner dies with no will (intestate), Spanish law must be applied to their Spanish assets as a result, including the obligation to leave two thirds of their estate to their compulsory heirs (and failing that to the State). As a foreigner your Spanish will can be governed by your own national law allowing you to bequeath your Spanish assets to anyone you please.
An NIE (Numero de identificacion de extranjeros – Identity number for foreigners) is a document that you will require in order to pay taxes in Spain upon the purchase or inheritance of a property or to open a bank account.
We can obtain this on your behalf when you grant us a Power of Attorney. Bilingual Power of Attorney https://www.thenotariessociety.org.uk/
An apostille is a certificate that verifies that the stamp, seal or signature on the document is official. The type of legalisation or apostille will vary depending on whether the requesting country is a member of the Hague Convention.
When carrying out any official paperwork procedures you may be asked for legalised documents. This is so that the foreign officials can verify that the document in question is genuine and not a forgery.
Types of documents that may need to be legalised:
• Documents emanating from an authority or official of the State
• Administrative documents
• Notarial documents
• Official certifications on private documents.
In Spain Apostilles are issued by Regional High Courts of Justice, the managers of the Territorial Offices of the Ministry of Justice as well as the dean of the Notaries in each city, depending on the type of document to be apostilled.
To get documents from the UK legalised online: https://www.gov.uk/get-document-legalised
Note that you will then need to obtain a sworn translation of the document (go to Translation section)
We take pride in offering a wide range of legal services to meet the needs of our international clients who wish to live in Spain or invest in properties in this beautiful country. Our highly skilled team of lawyers specializes in various areas of law to provide you with exceptional advice and representation.
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Getting a Foreigner Identification Number (NIE) in Spain is an important step if you are a foreigner planning to buy property, inherit property, or open a bank account in the country. The NIE is essential for conducting financial and legal transactions in Spain.
At My Lawyer in Bilbao, we make the process of obtaining the NIE quick and straightforward for our international clients. To obtain an NIE, you need to grant us a notarial power of attorney, allowing us to act on your behalf before the Spanish authorities.
Once we have the notarial power of attorney, we will handle the NIE application on your behalf, sparing you the hassle of navigating the process yourself. This includes completing the necessary forms and submitting the required documentation to the relevant authorities.
The NIE is an essential document that will allow you to meet your fiscal and legal obligations in Spain. At My Lawyer in Bilbao, we are here to streamline this process and provide you with all the assistance you need.
Having expert legal advice is essential to protect your interests and ensure a smooth transaction.
Our lawyers, specialized in Spanish property law, will provide you with clear and effective advice in your own language. We will help you understand and navigate the complex legal and tax aspects of property purchasing in Spain. From property verification to contract reviews and the processing of necessary documentation, we will be by your side at every step of the process.
Remember, investing in property in Spain is a significant decision, and the right legal advice will give you peace of mind, knowing that you are making informed decisions and protecting your interests.
We understand that divorce cases can be emotionally challenging and legally complex. That’s why we offer specialized legal services for divorce cases to provide you with the necessary support during this difficult time.
Our team of highly qualified family lawyers specializes in divorce and family law matters in Spain. We will provide you with clear and effective legal advice to address issues such as property division, child custody, and alimony. We are here to protect your rights and interests at every stage of the divorce process.
We understand that each case is unique, so we approach your concerns on a personalized basis and in your own language. Our priority is to help you make informed decisions and reach a fair resolution in your divorce case.
Having a divorce lawyer in your corner is essential when going through a divorce process in Spain. This decision can be one of the most significant in your life, and an experienced divorce lawyer will provide you with the support and guidance needed to navigate this challenging stage.
A divorce lawyer will not only provide you with legal advice but also act as your advocate, protecting your rights and interests throughout the process. From property division to child custody and alimony, your lawyer will ensure that all your concerns are addressed fairly and appropriately.
At My Lawyer in Bilbao, our divorce lawyers are highly qualified and have experience in both simple and complex divorce cases. We are here to help you make informed decisions and reach a fair resolution in your divorce.
At My Lawyer in Bilbao, we offer a wide range of international law services to meet the legal needs of our international clients in Spain. Our commitment is to provide exceptional legal advice and representation in various areas related to international law.
Our services include advice on property matters in Spain, immigration and visa issues, resolution of international legal disputes, international family law, and much more.
Our team of bilingual lawyers has a deep understanding of Spanish laws and international legal implications. We are here to provide expert guidance and protect your rights in complex and cross-border legal situations.
If you have a legal issue with an international component, do not hesitate to contact us. We are ready to assist you.
Legal translation services are crucial when dealing with legal documents in an international setting like Spain. These services are essential to ensure that legal documents drafted in a foreign language are accurate, comprehensible, and compliant with local legal requirements.
At My Lawyer in Bilbao, we understand the importance of accuracy in legal document translation. Our team of highly skilled legal translators specializes in translating a variety of documents, such as contracts, wills, property agreements, and more.
Accurate legal translation is essential when it comes to legal procedures, property purchases, inheritances, and other legal matters in Spain. An error in the translation of a legal document can have significant consequences. Our legal translation services ensure that your documents are translated accurately and comply with all legal requirements.
If you need reliable and accurate legal translation services, you can count on My Lawyer in Bilbao to provide effective solutions in your own language.