This is an initiative by the Spanish Government which allows non-EU citizens with an investment of €500,000 or more in Spanish real estate, to get residency. It is however subject to terms and conditions. Please click here to see an article written by local lawyer Martin Hayes about the Golden Visa.
N.I.E. stands for Número de Identidad de Extranjero. It is a fiscal number which is issued to foreigners in Spain who wish to conduct transactions, and you usually need a NIE to open a bank account. For further information on NIE’s please click here.
Given that you will be required to sign a legally binding document when you purchase a property, we always recommend you consult the services of a local lawyer to advise you. Your lawyer can also carry out important pre-contract or purchase enquiries, and will be familiar with the local system involved in purchasing a property. We are happy to give you recommendations for local reputable lawyers. Please click here for more information on the function of the lawyer in Spain in property transactions.
Yes, a Spanish account is obligatory when purchasing property in Spain. Just like at home, Spanish banks are also obliged to know their customer before opening a bank account so subject to limited exceptions, you must visit the bank in person to open a bank account. Even if you authorise your lawyer to do so, generally a lawyer will normally not be able to open a bank account without you the client present.
We always recommend you carry out a survey of the property you are buying in order to give you peace of mind in relation to the structure. A survey can also highlight any potential issues with the property and help you decide if you wish to proceed with the purchase, or whether you may need to do some work to the property after you buy it. We can give you recommendations for local reputable surveyors.
Found Valencia can help you with all aspects of construction, renovation, interior design and project management. We can also handle all aspects such as applying for local planning permission and work permits.