Buying in Spain after Brexit

Can I buy property in Spain after Brexit? YES

Nothing has changed regarding buying a property in Spain! There are no rules that restrict the purchase of property in Spain to only EU citizens. This is a point to make clear straight away, as the uncertainty can lead to misinformation and concern. If you want to buy a property in Spain, if you can pay the purchase price you can buy it and own it.

For years, citizens from outside the EU borders like Norway or America, Canada have been buying property in Spain without any issues. The fact that Britain is no longer within the EU, will not change this rule, nor is there any specific rule pointing out UK citizens.

You are able to buy a house in Spain, and the Spanish government is always trying their best to encourage non-EU residents to purchase a property in Spain with deals like the Golden Visa scheme. Think about it, Spain benefits enormously from outsiders buying property, living here and bringing money into the economy, this will continue even after Brexit. The number of UK citizens making the decision to buy property and live in Spain continues to rise.

So, should I buy a property in Spain after Brexit? Continue reading and contact us for help. 

Will the Spanish property cost more money because of Brexit? NO!

Your residency or citizenship will not have an impact on the price you pay for a property. Whether you’re an EU citizen or not, you will pay the same amount. The payments you make to buy a house in Spain are the same for everyone:

  • Purchase tax
  • The Notary’s fee
  • The property registry fee
  • Miscellaneous expenses

In Spain, you need a notary to witness this procedure so you can add your title to the property’s register. The fee you pay to the notary is controlled by the Spanish government, and is based on the number of clauses and pages in the property deed and the declared value of the property. 

The fluctuation of the Pound and the Euro can influence how much the currency is worth and have an impact on how much you pay to buy a property in Spain.  It is worth registering with a currency exchange and fix the price of your currency, then you can fix the price of the house.

Whether you are a resident or non-resident, you should be aware of the relevant taxes regarding the purchase, sale or ownership of your property.

Will there be any difficulties visiting my property in Spain or living in it because of Brexit? NO.

Two points to consider: If you’re buying a property in Spain after Brexit and you’re looking to visit for short periods of time you won’t notice any difference. 

British tourists are allowed to stay within the European Union for up to 90 days within any 180 day period and will not require a visa during this time in which they can go sightseeing, visit family and friends, do business, or pursue short-term studies.  If you plan to visit your property for more than 90 days, same as before Brexit, you would need a temporary residency permission. The difference after Brexit is that instead of applying for it in the Police office, once you are in Spain, now you would have to apply for it in your nearest Spanish Consulate. These being the main requisites:

  • Inexistence  of a criminal record in Spain and in your previous countries of residence for crimes under Spanish law.
  • Not being prohibited from entering Spain and not appearing as objectionable in the territorial space of countries with which Spain has signed an agreement in this regard.
  • Have the necessary financial means to cover the expenses of stay and return and, where appropriate, those of your family members (This can be accredited by any means of proof, including Real Estate property titles, Saving or current Bank account balances, Investment Funds, company shares or certified checks or credit cards accompanied by a bank certification that accredits the amount available as credit on the card.) 
  • Have a public or private health insurance arranged with an insurance company authorized to operate in Spain.
  • Not suffering from any of the diseases that can have serious public health repercussions in accordance with the provisions of the International Health Regulations of 2005.
  • Not being, where appropriate, within the period of commitment not to return to Spain that the foreigner has assumed when taking advantage of a voluntary return program.

Remember: Tourism is still one of the most important industries in Spain and the UK is the biggest source of this, as 18 million Brits visit Spain every year, and many live here full time, with families visiting.  The Spanish government will do their best to keep this going, and will try to make it as easy as possible for UK citizens to buy, visit or stay in Spain. Is to the advantage of everyone. 

Can I rent out my property because of Brexit? YES.

You will be able to rent your property without an issue, there are changes to be aware of. 

As a Spanish or EU citizen the rental income tax is 19%. However, for non-EU residents the rental income tax is 24%, meaning there are different rules in this matter whether you’re a European resident or not.

In terms of the process to rent your property legally in Spain will remain the same, and we are on hand to assist with this, and manage the property whilst you are not physically here. 

OFFICIAL information on healthcare, pension, work in Spain and more.

The agreement reached between London and Brussels provides that EU and British citizens will maintain the right to receive medical care similar to that ensured by the current European Health Card when they travel to the territory of the EU as visitors.

At the moment, both sides have detailed that the European cards in force on January 1, 2021 will continue to be valid until they expire.  People entitled to healthcare in the United Kingdom or in Gibraltar under the responsibility of the corresponding entities, will receive healthcare from the Spanish National Health System (SNS), under the same terms and subject to the same conditions established prior to the January 1, 2021, provided that the United Kingdom guarantees these same conditions to those who have the right to receive health care from Spain.

In any case, the UK Government recommends taking out private insurance before traveling between the two territories.

These matters are important to make a choice whether to buy a property in Spain or not. This is because these are basic factors that affect everyday life and they should be taken into consideration.

Our legal team is on hand to help with specific questions.  We also attach some light reading.

How to prepare