# Confused re how to pay for a property in Spain



## angieairlie (Oct 19, 2019)

I am in the process of buying a flat in Spain that I would use as a holiday property. I would be paying for the property outright with money from an inheritance. I have a Spanish lawyer and the process is proceeding smoothly - I am due to sign the deeds at the notary's office next week. What I do not understand is whether I need a Spanish Bank Account to buy the property. All of my money is held in an account, in Euros, by a currency transfer company and I could just transfer the money to the vendor, or to my lawyer. However, it seems if I do this that I may fall foul of money laundering regulations. 

From what I have seen, I can't actually open a Spanish bank account without having a Spanish address. 

Can anyone help, or advise please?


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## Lynn R (Feb 21, 2014)

It is normal, when buying a property in Spain, for the buyer to open a non resident bank account (if they are not resident in Spain, of course). The way the payment process has gone for the two properties I have bought in Spain is that I was asked to transfer a sum of money to my lawyer's client account to cover the 10% deposit, the transfer tax and the legal and notary fees, then get a banker's draft on my account to cover the balance of the purchase price. On the first occasion, I had given Power of Attorney to my lawyer so she took care of obtaining the banker's draft, and the second time I was already resident in Spain so got the draft from my bank myself.

You are going to need a non resident bank account anyway once the purchase has been made, to pay utility and IBI bills.


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## Isobella (Oct 16, 2014)

It is usual for the Lawyer to provide details of payment, all itemised. We did the same as Lynn.


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## Barriej (Jul 23, 2012)

We transferred the monies for our purchase directly from the Uk to our Solicitors account using one of the currency exchange companies.

Although we already had a bank account in spain doing it this way cut out one step.

You should really have opened a non residence account earlier as the utilities in spain won't take your Uk account details.

We were not in Spain for the completion of our purchase and our solicitor took care of everything for us.

All of our DDR for the utilities, IBI and the service charge for the flat were setup by the same solicitor.


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## snikpoh (Nov 19, 2007)

You will need an account anyway to pay for such things as utilities and taxes.

You don't need a Spanish address to open one although why not open a mailbox somewhere


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## angieairlie (Oct 19, 2019)

*Bank*

Thank you all for your replies. I have looked into getting a non resident bank account, but every one I found asked for the address of a property in Spain! I had thought that I would open the account as soon as I had sign the deeds on the property. Could I ask what bank you use that allows you to open an account without an address, please?


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## angieairlie (Oct 19, 2019)

Barriej said:


> We transferred the monies for our purchase directly from the Uk to our Solicitors account using one of the currency exchange companies.
> 
> Although we already had a bank account in spain doing it this way cut out one step.
> 
> ...


To clarify, when did you make that purchase? Was it before the money laundering regulations came in? Thank you.


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## Barriej (Jul 23, 2012)

angieairlie said:


> To clarify, when did you make that purchase? Was it before the money laundering regulations came in? Thank you.


*March this year.*

Was sent via XE from the Uk in £ to the solicitors account in €.

Your lawyer/solisitor should have given you all this info when you first approached them. Although the ones we used came recommended by family and a couple of people here.

To open a non residence account you need to apply in person, you cannot do it online.

We needed something to show you pay tax in a country other than Spain (P60)
Something to prove Id (Driving licence, passport) 
Something to prove Uk address (I used P60, driving licence)

We used Santander and the nice man in the bank helped me sort out the mobile app and to pay money into the account from the ATM.

When we returned a month or so later we picked up the debit card.


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## High flyer (Jun 22, 2018)

Our lawyer set our Spanish bank account up for us under POA and arranged all the direct debits for utilities. We used TransferWise to covert pounds into euros and transfer to lawyers escrow account as requested throughout the purchase process, then we send direct to our bank account through them. Due diligence was carried out by transferwise as required under money laundering regulations, once that was completed never had any problems whatsoever transferring money into Spain.Never move sterling directly from a U.K. bank account into a Spanish account, horrendous fees and sometimes questions from the receiving bank as to its origin!


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## fortrose52 (Nov 29, 2018)

I did the same recently. Transferred deposit etc to bank in Spain. The estate agent arranged for me to open bank account and came with me to translate. then used transferwise to transfer the remainder before the notary apt.


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## Juan C (Sep 4, 2017)

Angie. You have not mentioned whether you have an NIE. You will need one to buy a property in spain and to operate a bank account, and that is not affected by Brexit

This might help

TO MAKE AN WITH THE POLICE FOR NIE, E.U. Citizen registration, etc.

As you go through you will find links to the application forms and the payment, at any bank, form 

.• GO TO https://sede.administracionespublicas.gob.es/icpplus/ 

• PROVINCES AVAILABLE: CHOOSE the province where your are living/ staying 

• SECTIONS AVAILABLE IN PROVINCE: OPEN PAGE AND SELECT SECTION REQUIRED

e.g. “policía certificado de residente o no residente” (that includes NIE application)
NOTE there is now a special section for UK citizens which must be chosen that is “Polica-Certificada EU (Exclusivamente para Reina Unido)

• ENTER THE DETAILS OF APPLICANT. if you have an NIE show that, if not then show your passport number 

• CHOOSE NATIONAL POLICE STATION FOR APPOINTMENT: The one that covers the area where you are living - staying 
UK citizens INTERNET CITA PREVIA, enter telephone number, email and repeat Email and Motivo o tipo de solicitud de la cita, show treason for requesting appointment.

• CHOOSE APPOINTMENT, AND THEN CONFIRM

• You must PRINT A COPY OF THE APPOINTMENT, And take it with you to the police station
You can find info here in english about completing the EX15


http://www.exteriores.gob.es/Consul...E 2018 - TRANSLATED NIE FORM 2018 - GUIDE.pdf


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## angieairlie (Oct 19, 2019)

Thanks. That's really helpful.


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## angieairlie (Oct 19, 2019)

High flyer said:


> Our lawyer set our Spanish bank account up for us under POA and arranged all the direct debits for utilities. We used TransferWise to covert pounds into euros and transfer to lawyers escrow account as requested throughout the purchase process, then we send direct to our bank account through them. Due diligence was carried out by transferwise as required under money laundering regulations, once that was completed never had any problems whatsoever transferring money into Spain.Never move sterling directly from a U.K. bank account into a Spanish account, horrendous fees and sometimes questions from the receiving bank as to its origin!


That's really helpful. Thank you. Much appreciated.


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## High flyer (Jun 22, 2018)

angieairlie said:


> That's really helpful. Thank you. Much appreciated.


Denada


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