Buying FAQ
Everything international buyers ask us about purchasing property in Ibiza.
Frequently Asked Questions
Yes. There is no restriction on foreign ownership in Spain. You will need an NIE (foreigner's identification number) and, in practice, a Spanish bank account. We help arrange both.
No. Non-residents buy freely. Residency affects your tax position, not your right to purchase.
Through a Spanish consulate in your home country or in person on the island. It takes a few weeks and your lawyer can handle it under power of attorney.
In practice yes: for purchase funds, taxes and utilities. Opening one as a non-resident is straightforward with the right introduction.
Budget 10 to 13% of the purchase price. That covers transfer tax or VAT, notary, land registry and legal fees. We give you a written breakdown for your specific purchase.
ITP on resale property, 8 to 11% on a sliding scale by price band. New-build is different: 10% VAT plus around 1.5% stamp duty.
IBI (council tax), community fees where applicable, utilities, insurance, and non-resident income tax. We can model the annual running cost of a specific property for you.
Yes, in Spain. Rates and deductions depend on your residency and EU status. Engage a Spanish tax adviser before you buy, not after.
Eight to twelve weeks from accepted offer to Notary. Finding the right property usually takes considerably longer than buying it.
The private deposit contract, typically 10%. Withdraw as buyer and you generally lose it; withdraw as seller and you generally repay double. Do not sign it until due diligence is complete.
Yes, and an independent one. We introduce you to specialists from our network but you engage them directly. That independence protects you.
Title, charges and debts, planning compliance, licences, and whether what is built matches what is registered. On Ibiza the last point matters more than buyers expect.
Yes, via power of attorney. We would still rather you saw the house.
Typically up to 60 to 70% of the valuation. Terms vary by lender and nationality. Start early: approval is slower than buyers expect.
Sometimes, depending on your circumstances and country of residence. It is a tax question, not a property question: ask a Spanish tax adviser.
10% at the Arras, the balance at the notary. Currency transfer should be planned in advance; exchange movements on a €5M purchase are not trivial.
An advisor engaged by you rather than by the seller. We search, evaluate, negotiate and coordinate due diligence in your interest: including telling you when a property is wrong.
Frequently. Around half of what we transact is never publicly listed.
No. We work across the market and the approach does not change with the budget.
Book a consultation or submit a Personal Property Search. An advisor reviews it personally either way.
Still have a question?
Ask us directly. We answer every enquiry personally, usually within one working day.