Frequently Asked
Questions

Yes, there are no restrictions for foreign buyers. We provide full guidance throughout the purchasing process, ensuring that all legal and tax requirements are properly managed, including obtaining an NIE number and opening a Spanish bank account.

An NIE number (Número de Identificación de Extranjero) is a unique tax identification number required for foreigners who wish to purchase property in Spain, open a bank account, or fulfill other legal and tax-related obligations.

A lawyer plays a crucial role in ensuring a legally secure real estate transaction. They verify ownership documents, permits, and any outstanding debts or encumbrances on the property. Additionally, they oversee the drafting and review of contracts, such as the Contrato de Arras (preliminary purchase contract) and the Escritura de Compraventa (notarial deed of sale).

Once a price agreement has been reached, the purchasing process consists of four key stages:

1. Preliminary purchase contract (Contrato de Arras) – A 10% deposit of the purchase price is paid to reserve the property.
2. Legal and technical due diligence – Ownership documents, permits, and any outstanding financial obligations on the property are reviewed.
3. Financing and NIE application – If applicable, the mortgage is arranged, and the required NIE number is obtained.
4. Notarial deed signing (Escritura de Compraventa) – The property is officially registered in the buyer’s name, and the remaining balance is paid.

When purchasing property in Ibiza, buyers should budget for an additional 10-15% on top of the purchase price, including:

• Property transfer tax (6-11%, depending on the purchase price and type of property).
• Notary and registration fees.
• Legal fees, typically around 1% of the purchase price.

We guide you through this process, ensuring full transparency regarding costs to prevent unexpected expenses.

Not all properties in Ibiza have the required permits. We collaborate with specialized lawyers and architects who conduct a comprehensive legal and technical review. This ensures compliance with regulations and mitigates any potential legal risks.

Yes, Spanish banks generally offer 60-70% financing to non-residents. We can connect you with reputable mortgage advisors who will assist you in securing the most favorable loan conditions.

For short-term rentals (less than one month) to tourists, a tourist rental license (ETV) is required. These licenses are no longer issued for apartments, making existing licensed properties particularly valuable.

For long-term rentals (over one month), no license is required. This falls under Spain’s Urban Lease Law (Ley de Arrendamientos Urbanos – LAU) and provides a fully legal rental option without additional permits. We can advise you on the best rental strategy for your property.

As a property owner in Ibiza, you are subject to the following taxes:

• Property tax (IBI) – An annual municipal tax.
• Income tax – On rental income, with rates ranging from 19-24% for non-residents.
• Capital gains tax – Payable upon selling the property.

We can connect you with tax specialists who will assist in optimizing your tax liabilities and ensuring full compliance.