As I was talking about earlier, we will need NIE, and a mandatory bank account. This NIE number is mandatory to open a bank account, to buy a property or to develop a business in Spain. It is a unique alpha-numeric combination required for foreigners who study, work or have to carry out any type of transaction in Spain, for example, buying or selling a property, business, etc.
The NIE is requested by prior appointment, then we have to go to the headquarters of the Police Brigade in the corresponding Spanish province, having the necessary documents with . To request it, one can also go to Spanish consulates abroad, which can be found on the websites of Spanish embassies. It is a mandatory document and has the form Y8888888-X.
How to fill the documents1: https://www.youtube.com/watch?v=gThchs7cU7w
How to fill the documents 2: https://www.youtube.com/watch?v=elZLBlSSBk8
Proof of income from the country of origin is essential, and types of income may vary. The source of the funds with which the purchase will be made must be justified and if we have rental income, they will be taken into account when applying for a real estate loan, but the calculated amount will be lower than 50%.
For proof of the origin of the money, it is recommended to have available the income statement, for the last two years (for safety); in general, it is sufficient for the last year.
If you want to buy the property and later leave it as an inheritance to your children, consult the implicit expenses and take into account a donation of a certain amount of money to already make the purchase in the name of the child… If you need help, you can contact me: https://linktr.ee/cornelpopescu
So, for the formalization of the contract at the notary, we need a passport, NIE, operational bank account and proof of income from the country of origin.
