Author: Mariana-A

Buying or Selling Property in Spain: What You Need to Know

Spain has long been a top destination for property buyers and investors, offering a mix of sunny climates, stunning coastal views, and vibrant cultural experiences. Whether you’re considering buying a dream home in Spain or selling your current property, understanding the real estate market and legal requirements is crucial. This guide provides essential insights to help you navigate the process smoothly.

Buying Property in Spain: Key Considerations

1. Understanding the Spanish Property Market

The Spanish real estate market varies by region. While coastal areas like Canary Island, Costa del Sol and Costa Blanca are popular among international buyers, cities such as Madrid and Barcelona attract investors looking for long-term growth. Researching local market trends can help you determine the best locations for your investment.

2. Legal Aspects and Documentation

Buying property in Canary Islands involves several legal steps:

• NIE Number: A foreigner’s identification number is required for property transactions.
• Deposit Agreement (Contrato de Arras): This preliminary contract ensures the buyer’s commitment and typically requires a 10% deposit.
• Title Deed (Escritura de Compraventa): The final contract, signed before a notary, legally transfers ownership.
• Land Registry (Registro de la Propiedad): After purchase, registering your property confirms your legal rights.

3. Financing and Additional Costs

If you require a mortgage, Spanish banks offer financing options to non-residents, typically covering 60-70% of the property’s value. Buyers should also budget for additional costs, including:

• Taxes: VAT (7% for new properties), Stamp Duty  and Property Transfer Tax (6,5% for resale properties).
• Legal Fees: Lawyer and notary fees can range from 1% to 2% of the purchase price.
• Ongoing Expenses: Annual property tax (IBI), community fees, and maintenance costs.

Selling Property in Spain: Important Steps

1. Preparing Your Property for Sale

To attract buyers and maximize value, consider making small improvements, staging the home, and obtaining an Energy Performance Certificate (EPC), which is legally required before selling.

2. Setting the Right Price

A professional valuation or real estate agent can help determine a competitive price based on market trends and comparable properties in your area.

3. Legal and Tax Considerations

When selling property in Spain, be aware of:

• Capital Gains Tax: Non-residents pay 19% tax on profits, while residents pay a progressive rate.
• Plusvalía Tax: A municipal tax based on the increase in land value since the last sale.
• Retentions for Non-Residents: A 3% withholding tax applies to non-residents to cover potential tax liabilities.

Why Work with a Real Estate Professional?

Navigating Spanish real estate laws and market conditions can be challenging. Working with an experienced agency like Fernández & Wenzel ensures you receive expert guidance, legal support, and a smooth transaction process. Whether buying or selling, having a knowledgeable partner can save time, reduce risks, and help you achieve the best outcome.

Setting Up a Business in Spain: A Comprehensive Guide

Starting a business in Spain can be a rewarding opportunity for entrepreneurs and investors looking to expand into the European market. However, navigating the legal and financial requirements can be complex. At Fernández & Wenzel, we specialize in guiding clients through the process of company formation in Spain, ensuring a seamless and legally compliant setup.

Our Business Incorporation Services

We provide expert assistance in establishing your business in Spain, handling all legal, tax, and administrative aspects. Our services include:

✔ Legal and Tax Advisory – Comprehensive guidance on business structures, taxation, and compliance requirements. 

✔ Company Statutes Preparation – Drafting and filing essential corporate documents to formalize your business. 

✔ Registration with Authorities – Assistance with registering your company with the Spanish Tax Agency and the Commercial Registry. 

✔ NIE & Foreign Investor Documentation – Support in obtaining necessary identification numbers for foreign investors. 

✔ Business Bank Account Setup – Guidance in opening a corporate bank account to facilitate financial transactions.

Business Structures in Spain

Whether you are launching a Limited Liability Company (Sociedad Limitada – SL), a partnership, or a branch of a foreign company, our team ensures you select the best structure for your business needs. We tailor our services to align with your goals, minimizing risks and optimizing legal and financial strategies.

Why Choose Fernández & Wenzel?

• Expert Legal Support: Our experienced professionals navigate Spanish corporate law to ensure full compliance.
• Personalized Approach: Every business is unique, and we provide customized solutions based on your specific industry and objectives.
• Efficient Process: We streamline company formation to save you time and avoid bureaucratic delays.

Get Started Today

Expanding your business to Spain starts with the right foundation. Let Fernández & Wenzel handle the complexities while you focus on growing your venture. Contact us today to begin your business journey in Spain with confidence.

A Guide for Expat Families Moving to Lanzarote

Lanzarote, one of the stunning Canary Islands, has become an increasingly popular destination for expat families seeking a high quality of life, a warm climate, and a welcoming community. With its breathtaking landscapes, excellent schools, and relaxed lifestyle, Lanzarote offers an ideal setting for those looking to relocate. Whether you’re moving for work, retirement, or a fresh start, this guide will help you navigate the essentials of settling down in Lanzarote as an expat family.

Why Choose Lanzarote?

Lanzarote offers a unique combination of natural beauty and modern conveniences, making it a top choice for families. Some of the key advantages include:

✔ Fantastic Climate – Enjoy year-round sunshine with mild winters and warm summers. 

✔ Family-Friendly Environment – Safe neighborhoods, welcoming locals, and plenty of activities for children. 

✔ Affordable Cost of Living – Compared to other European destinations, Lanzarote offers competitive housing and living expenses. 

✔ Good Healthcare System – Access to both public and private healthcare services with high-quality standards. 

✔ Bilingual Education Options – A range of Spanish and international schools catering to expat families.

Finding the Right Place to Live

When choosing where to live in Lanzarote, consider factors such as proximity to schools, work, and amenities. Some of the most popular areas for expat families include:

• Playa Blanca – A peaceful coastal town with great schools and family-friendly beaches.
• Puerto del Carmen – Vibrant and lively, offering a mix of local culture and expat communities.
• Costa Teguise – A great choice for families looking for international schools and a relaxed atmosphere.
• Arrecife – The island’s capital, ideal for those who want easy access to urban conveniences.

Education for Expat Children

Lanzarote offers a variety of educational options for expat families, including Spanish public schools and international schools. Public schools provide full immersion in the Spanish language and culture, while international schools follow British or other European curriculums, making the transition easier for children from abroad.

Healthcare and Essential Services

The Spanish healthcare system is known for its high standards. Expats can access public healthcare if they register as residents and contribute to social security. Private healthcare is also widely available, offering English-speaking doctors and shorter waiting times.

Other essential services include:

• Residency and NIE Registration – Necessary for long-term stays and employment.
• Opening a Spanish Bank Account – Simplifies financial transactions and utility bill payments.
• Learning Spanish – While many locals speak English, learning basic Spanish will help with integration and daily life.

Activities and Lifestyle for Families

Lanzarote is packed with activities for all ages, from outdoor adventures to cultural experiences: 

✔ Beaches and Water Sports – Surfing, snorkeling, and boat trips. 

✔ Nature and Hiking – Timanfaya National Park and volcanic landscapes. 

✔ Family Attractions – Rancho Texas Park, aquariums, and theme parks. 

✔ Cultural Events – Traditional festivals, markets, and museums.

How Fernández & Wenzel Can Help

Relocating to Lanzarote requires careful planning, and having expert guidance can make the transition smooth and stress-free. At Fernández & Wenzel, we specialize in legal and administrative services for expats, including:

• Residency and visa applications
• Property purchase and rental assistance
• Tax and financial advisory
• Business incorporation and legal support

Ready to Make the Move?

Lanzarote is a fantastic place for expat families seeking a fresh start in a beautiful and welcoming environment. Whether you need help with legal paperwork, finding a home, or settling into the local community, Fernández & Wenzel is here to assist you every step of the way.

Contact us today to start your journey to Lanzarote with confidence!