EU citizen buys real estate
Anonymous asks:
When buying real estate as a citizen of the European Union - what is necessary for legal life in the purchased property for more than 180 days? The question is also whether the intermediary commission is included in the value of the property indicated on the website, and what expenses for registration of real estate in the Spanish Land Registry, notary expenses, etc. are also needed.
Expert answers (3)
(SpainLuxInvest)
Hello!
1. A citizen of the European Union can freely cross the borders of the European Union, as well as reside in any country 365 days a year. EU citizens not only have the right to live and work in any locality of the European Union, but also take part in communal elections, as well as run for them. At the same time, moving to another EU state is subject to certain conditions and depends on some factors - does the citizen plan to work or have income in another country, does he want to become a resident of Spain and whether it is fiscal or non-fiscal, are there dependents children and other moments. These conditions need to be clarified at the Ministry of Foreigners in each country, as they differ and only immigration specialists can answer them. In Spain, Ministerio de extranjeros deals with such matters. There are points in many cities. You can find answers on the Ministry’s website, but it is in Spanish - http://www.exteriores.gob.es/Portal/es/ServiciosAlCiudadano/ InformacionParaExtranjeros / Paginas / VisadosDeLargaDuracion.aspx
2. As is customary in Spain, usually a realtor’s commission is included in the price unless otherwise indicated. At the moment, the majority of developers include a commission to agencies, but in practice there are several examples where developers do not enter into an agreement with agents and do not pay commissions to them due to the fact that most of the properties have been sold to them and they prefer to sell them to foreigners without agents. In this case, if we are contacted by a client who is interested in an object, namely, in such a complex and he needs full transaction support, transfers, opening accounts, arranging mortgages and other services, then we will discuss such payments for services separately. But, such sales were rare, so at the moment we do all transactions for our customers for free, because they buy objects in projects where we are paid by developers who need agents, since realtors do a very large layer of work for clients, in addition to showing objects. In order to complete the transaction and receive a commission, the realtor must take all necessary steps for the buyer so that the transaction is successfully completed. When selling secondary real estate in Spain, it is generally accepted like this - the seller pays a commission to agents, although there are exceptions, but rarely.
3. The cost of the purchase is from 12 to 14%.
When buying in new buildings it is: 10% - VAT, registration and notary - from 1 to 2%, depending on the price and number of documents (the more expensive the price, the lower the percentage) and there is a separate tax on new housing - 0.1% - upon purchase of the main housing (accommodation for more than 6 months a year) and 1.5% - on the purchase of non-basic housing (accommodation less than 6 months a year)
When buying a secondary home - this: 10% tax on the purchase, registration and notary public - from 1 to 2%, depending on the price and number of documents (the more expensive the price, the lower the percentage.
Our company recommends conducting transactions with a recommended and verified Spanish lawyer, since in practice, over 15 years, a significant number of nuances have arisen that can arise during the purchase process and can create unfavorable situations, which we avoid and advise our customers to protect their money, make sure and use the services of an independent competent lawyer who can accompany the entire process of registration so that it ends successfully. The lawyer's fee is 1%, and with high budgets and in complexes where we already have many transactions, we agree on 0.5-0.7% of the value of the property.
1. A citizen of the European Union can freely cross the borders of the European Union, as well as reside in any country 365 days a year. EU citizens not only have the right to live and work in any locality of the European Union, but also take part in communal elections, as well as run for them. At the same time, moving to another EU state is subject to certain conditions and depends on some factors - does the citizen plan to work or have income in another country, does he want to become a resident of Spain and whether it is fiscal or non-fiscal, are there dependents children and other moments. These conditions need to be clarified at the Ministry of Foreigners in each country, as they differ and only immigration specialists can answer them. In Spain, Ministerio de extranjeros deals with such matters. There are points in many cities. You can find answers on the Ministry’s website, but it is in Spanish - http://www.exteriores.gob.es/Portal/es/ServiciosAlCiudadano/ InformacionParaExtranjeros / Paginas / VisadosDeLargaDuracion.aspx
2. As is customary in Spain, usually a realtor’s commission is included in the price unless otherwise indicated. At the moment, the majority of developers include a commission to agencies, but in practice there are several examples where developers do not enter into an agreement with agents and do not pay commissions to them due to the fact that most of the properties have been sold to them and they prefer to sell them to foreigners without agents. In this case, if we are contacted by a client who is interested in an object, namely, in such a complex and he needs full transaction support, transfers, opening accounts, arranging mortgages and other services, then we will discuss such payments for services separately. But, such sales were rare, so at the moment we do all transactions for our customers for free, because they buy objects in projects where we are paid by developers who need agents, since realtors do a very large layer of work for clients, in addition to showing objects. In order to complete the transaction and receive a commission, the realtor must take all necessary steps for the buyer so that the transaction is successfully completed. When selling secondary real estate in Spain, it is generally accepted like this - the seller pays a commission to agents, although there are exceptions, but rarely.
3. The cost of the purchase is from 12 to 14%.
When buying in new buildings it is: 10% - VAT, registration and notary - from 1 to 2%, depending on the price and number of documents (the more expensive the price, the lower the percentage) and there is a separate tax on new housing - 0.1% - upon purchase of the main housing (accommodation for more than 6 months a year) and 1.5% - on the purchase of non-basic housing (accommodation less than 6 months a year)
When buying a secondary home - this: 10% tax on the purchase, registration and notary public - from 1 to 2%, depending on the price and number of documents (the more expensive the price, the lower the percentage.
Our company recommends conducting transactions with a recommended and verified Spanish lawyer, since in practice, over 15 years, a significant number of nuances have arisen that can arise during the purchase process and can create unfavorable situations, which we avoid and advise our customers to protect their money, make sure and use the services of an independent competent lawyer who can accompany the entire process of registration so that it ends successfully. The lawyer's fee is 1%, and with high budgets and in complexes where we already have many transactions, we agree on 0.5-0.7% of the value of the property.
21.10.2019
(LUXBARCELONA)
You, as an EU citizen, need to apply for a residence. To do this, you better contact the lawyers who, for registration, will ask you for the original contract of sale of your apartment, a certificate from the bank on the account balances, a contract for private health insurance (they are usually made out where you have an account through which you went through the process apartment purchase) and other documents. The process itself is simple, you can also contact us in the company on this issue.
The cost of objects from our company includes all commissions or this commission is indicated immediately in the object card. The commission includes full customer support - opening bank accounts, all trips and translation into Russian by a notary. But each company may have its own commission policy. Your purchase costs will be: 10% of the value of the object - this is a mandatory tax when buying into the state treasury, the costs of registering property, the costs of notary services. Total, consider that approximately your costs will amount to 11% of the value of your purchased property.
The cost of objects from our company includes all commissions or this commission is indicated immediately in the object card. The commission includes full customer support - opening bank accounts, all trips and translation into Russian by a notary. But each company may have its own commission policy. Your purchase costs will be: 10% of the value of the object - this is a mandatory tax when buying into the state treasury, the costs of registering property, the costs of notary services. Total, consider that approximately your costs will amount to 11% of the value of your purchased property.
20.10.2019
(RSC Property)
Good afternoon, for staying in Spain for more than 180 days a year, you need a Golden visa, you get it when you buy property over 500 thousand. Additional costs: 10% tax, 2-2.5% notary and register services. Agency fees are paid by the seller.
18.10.2019
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