Frequently Asked Questions

The process typically includes the following steps:

1. Property selection — through an agency or independently.

2. Reservation & deposit — a reservation contract is signed and a deposit is paid (usually €3,000–6,000).

3. Obtaining an NIE — foreigner identification number (required).

4. Opening a Spanish bank account.

5. Legal due diligence — checking ownership, debts, and licenses.

6. Signing the deposit contract (Contrato de Arras) — with a 10% payment.

7. Signing the main purchase deed at the notary — and paying the full amount.

8. Registering the property — in the Land Registry.

9. Paying taxes and fees — transfer tax (ITP), notary, registration.

The full process usually takes 2 to 6 weeks.

IBI is paid once a year, and the exact dates depend on the local municipality.

• In the province of Alicante (SUMA): July 1st – October 5th

• In the city of Valencia: March 1st – May 10th

• In Marbella (Málaga province): typically May 1st – July 31st

We recommend setting up automatic bank payments to avoid penalties or delays.

The amount of IBI is calculated based on the cadastral value of the property, which is set by the Spanish government. A tax rate set by the local municipality (usually between 0.4% and 1.1%) is then applied.

The formula is:
IBI = Cadastral Value × Municipal Tax Rate

The cadastral value is usually lower than the market value and can be updated by the municipality every few years. You can check your IBI amount through the local tax office or the SUMA website.

The IBI (property tax in Spain) is paid by the registered owner of the property as listed in the Property Registry at the time the tax is issued.

If the property is sold during the year, the law states that the seller is responsible for paying the IBI for that year. However, this can be negotiated in the purchase agreement — in many cases, the buyer and seller agree to split the amount proportionally based on the date of ownership transfer.

Important: the IBI is mandatory for all property owners, whether residents or non-residents. Late payments are subject to penalties and interest.

IBI (Impuesto sobre Bienes Inmuebles) is an annual municipal property tax in Spain. It must be paid by all property owners, regardless of their nationality.

The amount is based on the cadastral value of the property and varies depending on the municipality (typically between 0.4% and 1.1% per year).

In the province of Alicante, this tax is often referred to as SUMA, named after the local tax office that collects it.

The IBI tax helps fund local public services such as waste collection, street lighting, police, and schools. It is paid once a year, and we recommend setting up automatic bank payments to avoid missing the due date.

Yes, it is possible. Some real estate developers in Spain already accept payment in cryptocurrency – for example in Bitcoin or USDT – directly to the company’s cryptocurrency wallet. As for the secondary market, the possibility of payment in cryptocurrency will be discussed individually with the property owner.

In any case, our lawyers will help organize a safe transaction and legalize the payment if it is necessary to transfer cryptocurrency into euros through licensed exchanges or financial intermediaries.