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  - Do I need a lawyer to buy in Spain

  - Getting a mortgage

  - What is an N.I.E. number

  - How do I get one

  - Importing a car

  - Property Title deeds and register (Escritura)

  - What is a Padron

  - Extra Costs

  - How do I buy a home in Spain

  - Starting a business

  - How do I sell a home in Spain

  - Annual running costs - non - resident

  - How do I open a bank account

  - Spanish will

     Do I need a lawyer to buy in Spain

100% Yes. When you are doing business in a foreign country and trying to understand a different language, then it's vital to employ a reputable lawyer Quesada life recommends Vivian Van Son not only have we used them ourselves but so have many of our friends.   top

    Getting a mortgage

Nowadays you can get a 95% mortgage, but it's best to look at putting down 20-30% subject to age, 25 year terms are acceptable, all you need is to show your ability to repay.

                Income tax return P60

                Proof of earnings last 3 pay slips

                Copy of passport

If self-employed a copy of accounts.

Shop around for the best rate, ask your agent and then the banks remember there is commission to be paid out on your mortgage. You pay for this so there is room for negotiation.  top

    What is an N.I.E. number

This is your identification number. To buy a house or car or get work you must have one, look at it as the same as a National Insurance Number.   top

    How do I get one

The best way is to pay a lawyer about 100 Euros then they will take you to Alicante at about 8:30 in the morning.  Some one will have arrived at 5 o'clock and reserved you a place in the long queue outside the N.I.E. office, then you go in at 9 o'clock get your number and get taken home by the lawyer. 

Of course if you like getting up early, understand Spanish and know where the N.I.E. office is then you could do it yourself. top

    Importing a car

Money wise it will cost you about 1000Euros to pay an agent to do the paper work for you, remember things like the lights have to be changed so this should all be in the price. Your U.K. car can be used until the M.O.T. and Tax run out after this time don't drive it. Even if you have I.T.V. (Spanish M.O.T.) paid the (suma) Spanish road have tax and insurance. If stopped by the police they will fine you and could take the car. If you live in Spain ship it back to England and buy Spanish.  top

    Property Title deeds and register (Escritura)

As it suggests by its name this is the document that shows who owns the property, it will include plans and sizes of the land and the price it has been sold for in the past. Don't buy without one and study it well before you sign.  top

    What is a Padron

Its like being on the electoral  roll in the U.K. Once registered the government can calculate what funds are needed for things like doctors and waste disposal. If you live is Spain for more than 6 months you do need to register. Its not hard, you need proof of where you live a escritura or rental documents a bill and passport down to the town hall and it free.   top

    Extra Costs

Most house prices quoted by the agent will include the agents fee, this will be anything from 3-20%. You then must pay the tax man I.V.A. 7%. Legal fees about 2000Euros. Mortgage set up a % of money loaned.

Example

200,000  Villa including agents fee

   14,000   Tax

     2200   legal includes Notary fees, Land registry Search and Registration fee, Legal Conveyance fee, change over of power supplies, Translations.

1000-5000 mortgage set up

TOTAL: 217,200 to 221,200 Euros    top

     How do I buy a home in Spain

This is a simple fact. Find the home you want, agree a price with the seller, give a deposit to your lawyer sign a contract and wait for the exchange of contract day to come. You, the Seller and lawyer go to the notary, sign more forms. You give them the balance of money, they give you the deeds (Escritura) and keys. You now own a house. If you are getting a mortgage then someone from the bank will also be present to give the mortgage money.    top

     Starting a business

As Spain's tourist industry is still growing there is much to do in its commercial development and consumer industries. So it can be said that there are good opportunities for setting up or buying a business not only because Spain being a relatively new member in the EU is still benefiting  from the extra cash from Brussels and also from a booming economy. of course as for the new start of any business you should carefully consider the type and set it up in an area in which you already have knowledge and expertise.

After  the consideration of the market place and the final decision about what market to do for, you should make sure that you have proper financial backing, to avoid any type of unexpected surprises.

AUTONOMO- self employed

Depending on what type of business you intend to set up the paperwork and formalities required, do vary. If is your wish to set up a professional practice i.e. medicine, dentistry, architecture, etc.

The originals of all your titles and degrees should also come from an EU recognised body.

Any business, no matter if a  professional practice or a bar will need a business licence (IMPUESTO DE ACTIVIDADES ECONOMICAS)

The registration with the Social Security as self employed person will be needed. The feels of self employed workers will depend on sex and age.

The social Security entitles you to state medical treatment and a pension after 15 years. As with the above mentioned, your passport plus photocopy and money four your state papers will also be required.

Your future place of work, office, segury etc. will need a municipal opening licence (LICENCIA DE APERTURA).    top

    How do I sell a home in Spain

It’s best to use a good agent, its there job and most are very professional. They will advertise for you for free, only taking a payment when they have found you a buyer. Not a bad deal. I bought my own home from SunSeekers and was more than happy to pay them the 3% commission they charge, a job well done.     top

    Annual running costs - non - resident

Wealth and Income Tax are payable once a year and are calculated as a percentage of the property value.

Wealth Tax = 0.2% of property value.

Income Tax = 0.5% of ratable property value.

Local rates are payable between  August and October £30-£150 per year.

Fiscal fees are payable yearly at £75.

Community (Urbanization fee) is usually paid in one or two payments per year £250-£350.

Electricity bills come every two months and the minimum charge is around £10.

House Insurance is due once a year depending on the date of your purchase contract. The cost depends on size and value of the property - say £300.       top

    How do I open a bank account

Solbank is good it's big, friendly and never to busy and all the staff speak English, also you can bank online. They offer Pound account and know how to deal with the English.

You need N.I.E. number passport and a few Euros.     top

    Spanish will 

It's a must, the law is different in Spain so again just go to your lawyer sit down for 30 minutes pay some money and your loved ones are covered.

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