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Buying and selling property in Spain
Resolución del Contrato de Compraventa de un Inmueble por Incumplimiento
A Property Sales and Purchase Agreement is a written commitment between Purchaser and Seller to deliver a property in exchange for an arranged amount of money. On the one hand, this type of agreement requires the Seller to deliver their property in the same condition it was in when the agreement was signed; on the...
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The Foreigners’ Identity Number (Número de Identificación para Extranjeros, NIE in Spanish) is a personal, unique and exclusive number that all foreigners must have for identification purposes. It serves as proof of identity within the country and allows them to initiate the procedure of staying in Spain without having to apply for a specific visa.Applying...
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Property Sale and Purchase Agreement in Spain
The Property Sale and Purchase Agreement in Spain is a legally-binding document with which the Seller is required to transfer the ownership of their property to the Purchaser, in exchange for a specific agreed upon amount of money. If you want more information about the contract of sale of a property or you want our...
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A Property Deed in Spain is a legal document signed before a Notary, which grants a property’s ownership and must be submitted to the Land Registry where said property is registered. The Property Deed needs to be signed before a Notary by both the current owner and the Purchaser.This document is a requirement for any...
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What is Earnest Money Contracts in Spain
In Spain, an Earnest Money Contract is a written agreement that is signed prior to the purchase of a property. This document serves as proof of willingness to transfer said property from the Seller to the Purchaser. The reservation of the property is therefore made effective by signing the Earnest Money Contract, in which the...
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What are Tourist Rentals in Spain
Tourist Accommodation in Spain Any individual property in Spain, whether it is a detached house, an entire building or an apartment within a residential complex, can initiate the procedures to be used as Tourist Accommodation. Property owners may hire different companies for managing and advertising their properties in order to be used for temporary accommodation...
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What is Permanent Establishment in Spain
You may obtain the status of Permanent Establishment (PE) in Spain in two ways: either when your main business activities take place anywhere in the Spanish territory or your business is located here, or when you appoint another person to act by proxy (power of attorney) and apply for your PE. Renting a property in...
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Spanish Municipal Urban Development Compatibility Report
The Spanish Municipal Urban Development Compatibility Report (Informe Municipal de Compatibilidad Urbanística) is a document which ensures that your property meets all the compatibility criteria set forth by the Urban Development Plan (Plan General Urbana or PGOU) of the City Council whereyour property is registered. If your home is located on the Costa Blanca, you...
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Certificate of First or Second Occupancy
CERTIFICATE OF FIRST OCCUPANCY: This document certifies new properties as suitable for occupancy. It is the property’s first certificate which is issued by the City Hall where the property is registered.CERTIFICATE OF SECOND OCCUPANCY: This is a certificate for properties which are already built and were previously occupied. It is needed when owners want utilities...
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What are the most common taxes you are required to pay as a non-residentproperty owner in Spain? Spanish Property Tax (Impuesto sobre Bienes Inmuebles, IBI in Spanish): Tax on a property’s assessed value. It is normally paid once a year to the City. Council where said property is registered.Non-Resident Income Tax (Impuesto sobre la Renta...
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