Buying Property in Spain for American Citizens
Thinking about buying property in Spain as an American citizen? Tomas Ballestero Lawyers has extensive experience helping US nationals purchase property on the Costa Blanca and throughout the Valencia region. From understanding the differences between US and Spanish property law to navigating tax treaty implications, our team provides expert guidance every step of the way.
What American Buyers Need to Know
American citizens can freely purchase property in Spain. However, there are important differences from buying real estate in the US that you should be aware of, including the role of the notary, the absence of title insurance, and the way property taxes work in Spain.
Key Differences from US Real Estate
In Spain, the buyer typically appoints their own independent lawyer (not the real estate agent). There is no MLS system. The notary is a public official, not a representative of either party. Title searches are conducted at the Land Registry (Registro de la Propiedad). There is no title insurance, which is why thorough legal due diligence by your lawyer is essential.
US-Spain Tax Treaty
The United States and Spain have a tax treaty that can help prevent double taxation. As a US citizen, you must report worldwide income to the IRS, including rental income from Spanish property and capital gains on sale. Our lawyers work with tax advisors who understand both systems.
Frequently Asked Questions
Can Americans buy property in Spain?
Yes, there are no restrictions on American citizens buying property in Spain. The process is straightforward with proper legal guidance.
Do I need to visit Spain to buy property?
While visiting is recommended, it is possible to complete a purchase remotely using a Power of Attorney. Our lawyers can act on your behalf at the notary.
What visa do I need to live in Spain?
Buying property does not automatically grant residency. If you wish to stay more than 90 days, you will need a visa such as the non-lucrative visa or digital nomad visa. Our team can advise on the options.
Contact us today for a free consultation.
Call us: +34 965 792 946 or +34 607 320 768
Email: [email protected]
