Thinking about buying a vacation home, investment property, or retirement pad in Spain? As a U.S. citizen, you can legally purchase property in Spain without any restrictions — but there are important legal, tax, and residency implications to consider.
Here’s what Americans need to know before signing on the dotted line in Spain.
🏠 Can Americans Buy Property in Spain?
Yes, absolutely. Spain welcomes foreign property buyers, and there are no nationality-based restrictions for Americans. You can buy:
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Apartments
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Villas
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Townhouses
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Rural land
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Commercial spaces
📝 However, legal guidance is essential to avoid:
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Title issues
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Construction irregularities
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Seller debt liabilities
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Fraudulent contracts
🔍 What You’ll Need to Buy a Home in Spain
1. ✅ NIE Number (Foreigner ID)
Required for all legal, tax, and real estate transactions.
🗓️ Get it before or during the purchase process.
📍Apply via Spanish consulate or in Spain with POA.
2. ✅ Spanish Bank Account
You’ll need this to pay taxes, utility bills, and sign the notary deed.
3. ✅ Due Diligence & Legal Checks
Have a Spanish lawyer:
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Verify land registry records
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Confirm zoning and building permissions
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Check for debts or encumbrances
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Draft or review the Contrato de Arras (deposit agreement)
4. ✅ Power of Attorney (Optional)
If you can’t travel to Spain, your lawyer can handle everything for you remotely via POA.
💶 Costs & Taxes for Americans Buying Property
| Expense | Approximate Amount |
|---|---|
| Property Transfer Tax (ITP) | 6–10% of sale price |
| Notary & Land Registry Fees | 1–2% |
| Legal Fees | 1–1.5% |
| Bank Fees / Mortgage Setup | Varies |
| NIE Application | €10–15 |
| Annual Property Tax (IBI) | Based on cadastral value |
⚠️ Spain also has Wealth Tax, depending on asset value and region.
💡 Tip: U.S. citizens must also comply with FATCA and IRS reporting if buying through a company or holding foreign assets.
📜 Do I Get Residency by Buying Property?
Not automatically.
Since the Spanish Golden Visa was abolished, Americans must apply for:
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Non-Lucrative Visa
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Digital Nomad Visa
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Family Reunification
… and use the property address as proof of accommodation.
🛡️ Legal Pitfalls to Avoid
🔸 Buying without verifying title history
🔸 Paying deposits before signing a legally binding Arras agreement
🔸 Buying rural property without zoning approvals
🔸 Not declaring foreign assets for IRS/FATCA
👨⚖️ How Borderless Lawyers Helps Americans Buy in Spain
Our U.S.-friendly real estate team handles:
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Full due diligence and title checks
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Drafting and reviewing purchase agreements
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NIE applications and tax registration
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Power of attorney for remote purchases
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Post-sale legal help (taxes, utilities, inheritance planning)
✅ We work in English. We protect your investment. We represent you 100%.
📞 Call to Action
Ready to buy property in Spain with peace of mind?
We help U.S. citizens handle every legal and financial step of the process.