How difficult is the property purchase process in Spain?
Foreigners have a right to buy and resell all kinds of property – residential, commercial or land, with no limits. Acquiring property in Spain doesn’t automatically give one the right to live permanently in the country if the buyer isn’t an EU citizen, in the absence of a special agreement between the two states (Spain and the country of the buyer). But permission for permanent residence may be obtained by opening a bank account in a Spanish bank with not less than $150,000, and owning a business in Spain. On these conditions, a Spanish visa for the buyer and the members of his/her family is obtainable, which however doesn’t give the right to work in the country. When both parties have agreed on a price, you must ask proof that the seller owns the property and that it is free of charges. As a buyer, you are advised to check the deeds in the Registro de la Propriedad (Property Registry) and to check for any outstanding mortgages. Remember that in Spain, debts are charged to the property
