Foreign Buyer Guide

1. Obtain the NIE: the first essential requirement

The NIE (Foreigner Identification Number) is essential to buy in Spain. It identifies the foreign buyer before the Spanish authorities and allows signing the deed, paying taxes, opening accounts, contracting utilities and completing official procedures. Spain's National Police states that foreigners dealing with Spain for economic, professional or social reasons must apply for this number. If the buyer is not in Spain, it can be processed through Spanish consular offices abroad. The NIE does not imply residency. You can obtain it to buy property even if you will not live permanently in Spain.

2. Open a bank account in Spain

Although not always mandatory, a Spanish bank account makes the transaction much easier. It allows payments, direct debits, tax payments, utilities and managing ongoing property costs. Many banks offer non-resident accounts and multilingual service. They may request passport, NIE if available, proof of income, tax residence certificate and documentation on the source of funds. Preparing this in advance avoids delays when formalising the purchase.

3. Prove the source of funds

Spain has anti-money laundering controls. Banks, notaries, developers, agencies and other professionals may request documentation proving where the purchase money comes from. Typical documents include:

• Bank statements.
• Account ownership certificates.
• Tax returns.
• Payslips or income proof.
• Deeds from sale of another property.
• Inheritance or gift documents.
• Business or professional contracts.
• Proof of international transfers.

This is especially important for international buyers; a transaction can be delayed if documentation is missing or transfers are not properly justified.

4. Financing for non-resident buyers

Foreign buyers can also apply for a mortgage in Spain, though terms vary by country of residence, currency, income, job stability and financial profile. Lenders are often more cautious with non-residents and may lend a lower percentage than to residents. They may require more paperwork: tax returns from the home country, employment contracts, bank reports, statements, credit history and translations where needed. Study financing before searching for property. This clarifies your real budget, strengthens negotiation and avoids signing a deposit without clear mortgage viability.

5. Choose area and property type

Alicante offers very different areas depending on lifestyle and purchase goal. Playa de San Juan and Cabo de las Huertas often attract buyers seeking the sea, developments, terraces, communal facilities and higher-value residential stock. The city centre, Ensanche, Diputación and Benalúa suit those wanting urban life, services and good connections. Nearby areas can appeal to families or buyers seeking more space and value. Before buying, define whether your priority is:

• Year-round living.
• A second home.
• A holiday home.
• A wealth investment.
• Long-term rental investment.
• Possible tourist use, always checking current regulations.

Your purchase goal shapes the area, property type and future returns.

6. In-person viewings or buying remotely

Ideally visit the property and area in person before buying. Check orientation, natural light, noise, building condition, installations, community, access, local services and surroundings at different times of day. If you cannot travel, you can still progress remotely via virtual tours, video, video calls, document review and signing by power of attorney. For remote purchases, a trusted local adviser is strongly recommended to coordinate viewings, review documents, support negotiation and verify the property matches what was advertised.

7. Legal and documentary review of the property

Before signing a deposit contract, check that the property is properly documented. Items to review include:

• Up-to-date land registry note (nota simple).
• True ownership.
• Any charges, mortgages, liens or restrictions.
• Planning/urban status.
• Property tax (IBI) receipts.
• Community charge records.
• Certificate confirming community fees are up to date.
• Energy performance certificate.
• Second-occupancy licence, if applicable.
• Approved special levies (derramas).
• Alignment between registry, cadastre and physical reality.

This review avoids surprises and supports a safer legal purchase.

8. Offer, reservation and deposit contract

When you find a suitable property, submit a written offer based on market price, condition, area demand, timelines and payment terms. If accepted, a deposit contract (arras) is usually signed, setting price, amount paid on account, deadline for completion at the notary and consequences for breach. In international deals the buyer should fully understand the contract. Translation, a bilingual contract or an interpreter is advisable if you do not speak Spanish. Avoid paying large sums without prior basic document checks.

9. Signing before the notary

The sale is formalised by public deed before a notary. At signing, agreed payment is made, identities are verified, the deed is reviewed and keys are handed over. If the buyer cannot travel to Spain, they can grant a power of attorney to a trusted person to sign on their behalf. This can be done in Spain, at a Spanish consulate or before a foreign notary, possibly requiring apostille, legalisation and sworn translation depending on country and language. Prior coordination avoids issues on the day with payments, documents, translations or powers of attorney.

10. Purchase taxes and costs

Taxes depend on whether the home is new build or resale. On new build the buyer usually pays VAT and stamp duty (AJD). On resale, transfer tax (ITP) normally applies. Also plan for notary, registry, admin agent, valuation if mortgaged and possible bank fees. Reduced rates may apply in the Valencian Community in certain cases, depending on buyer profile, value and intended use. Before signing a deposit, calculate the full transaction cost, not only the purchase price.

11. Ongoing tax for non-resident owners

Buying in Spain also brings ongoing tax obligations. Non-resident owners may pay local property tax (IBI) and non-resident income tax, whether the home is let or kept for personal use. The Spanish Tax Agency explains that non-residents are taxed on income, capital gains and imputed property income depending on use. If you let the property, study taxation, deductible expenses, your tax residence and double taxation treaties between Spain and your country of residence.

12. Golden Visa and residence in Spain

Buying property in Spain no longer automatically grants residence through real estate investment. From 3 April 2025 Spain abolished the Golden Visa, including residence visas linked to property investment. A foreign buyer can purchase in Alicante, but the purchase alone does not grant a residence permit. If living in Spain is the goal, other residence routes must be analysed according to nationality, personal situation, work, retirement, means or family ties.

13. Tourist use and renting the property

Many international buyers consider renting when not using the home. Before buying for that purpose, check current rules. Alicante city has a moratorium suspending new licences for tourist homes, guesthouses and hostels until January 2027 at the latest. If tourist rental is the goal, analyse in advance whether a licence is possible, whether the owners' community allows it and which local or regional rules apply. Long-term or seasonal letting may be alternatives, with proper tax and legal advice.

14. Steps after completion

After signing at the notary, important tasks remain:

• Settle taxes.
• Register the property in the Land Registry.
• Transfer utility accounts.
• Notify the owners' community.
• Set up direct debits for IBI and other bills.
• Arrange home insurance.
• Manage maintenance, keys and possible renovations.
• Organise annual tax compliance if the owner is non-resident.

For foreign buyers this phase is especially important as many do not live permanently in Spain and need local support after completion.

Buy your home in Alicante with international support

Buying in another country requires trust, clarity and good coordination. At Inmolux we support international buyers throughout: property selection, in-person or virtual viewings, document review, negotiation, deposit contract, notary and follow-up. Our knowledge of the Alicante market helps you buy safely, understanding each step and avoiding surprises.