A lot of people on the forums have been asking recently if it’s become more complicated for British passport holders to buy property in Spain after Brexit. I’ve just finished looking into this and have consulted a few lawyer friends, so I wanted to share my findings to help anyone in the same boat. The short answer is, yes, you can still buy property, but you now have to give more thought to the residency aspect.
Key Changes After Brexit
The most significant change is simple: British citizens are now considered non-EU citizens. This means our rights regarding residency and length of stay in Spain are now restricted, and we no longer enjoy the previous freedom of movement. Previously, we could stay in Spain for any length of time, but now we are subject to the Schengen Area’s “90/180-day” rule for third-country nationals. This means you can only stay for a maximum of 90 days within any 180-day period. For those who dream of making Spain their second home and spending more than half the year there, this is a crucial issue that needs to be addressed.
The Key Steps Remain Largely Unchanged
The good news is that the process of buying a property itself is basically the same for all foreigners. Here are the essential things you need to prepare:
- NIE Number: This is the tax identification number for foreigners in Spain. You’ll need it to buy a house, open a bank account, or sign utility contracts. You can apply for this at a police station in Spain or through the Spanish Consulate in the UK, a fundamental step for anyone buying property in Spain.
- Spanish Bank Account: The purchase price and related taxes must be paid through a Spanish bank account.
- A Reliable Lawyer: This is strongly recommended! A lawyer will conduct due diligence, check the property for debts, draft contracts, and ensure the entire transaction is legal and compliant, helping you avoid potential pitfalls. The overall conditions for buying property in Spain remain the same.
Visa and Residency Issues
This is the biggest hurdle post-Brexit. If you want to live in Spain for more than 90 days a year, you must apply for a long-stay visa. The two most common options are:
- Non-Lucrative Visa: Suitable for those with sufficient passive income who do not need to work in Spain. You’ll need to prove you have enough financial means to support yourself.
- Golden Visa: Allows you to obtain residency by making a significant investment in Spain. The benefits include a faster approval process and very flexible residency requirements.
Taxes and Costs
In addition to the property price, there are several taxes and fees. Here’s a quick table for reference, though specific rates may vary by region:
| Tax/Fee Item | Applicable To | Approximate Cost |
|---|
| Transfer Tax (ITP) | Resale properties | 6% - 10% of the property price |
| VAT (IVA) | New-build properties | 10% of the property price |
| Stamp Duty (AJD) | New-build properties | 0.5% - 1.5% of the property price |
| Lawyer’s Fees | Full legal services | 1% - 1.5% of the property price |
| Notary and Registry Fees | Official procedures | Approx. 1,000 - 2,000 Euros |
Brexit has certainly added some visa-related red tape for Brits who want to live in Spain long-term, but buying a property itself hasn’t become impossible. The key is to plan your residency path in advance and seek assistance from professional lawyers and advisors. While there’s a bit more paperwork than before, for the Spanish sun, food, and relaxed lifestyle, it’s all worth it! I hope this information is helpful, and I welcome anyone with experience to add their own tips or corrections!
