When you have found the property that you wish to purchase we can guide you through the legal procedures.

We can recommend lawyers that speak your language so as you always understand each of the steps to be taken.

The first step is to obtain a NIE number (Identification Number for Foreigners), which is basically a fiscal ID number anybody with a financial interest in Spain or the Canary Islands is required to have. We have all of the necessary forms and information to enable you to achieve this.

You'll also need to set up a non-resident bank account, which is a simple procedure and we will be happy to assist you.

Purchase expenses.

You should allow approximately 8% of the purchase price for the expenses of purchase, this is necessary for the following ;-

• Lawyers fees (these are around 1,000 euros for a straightforward conveyance.)
   
• 6% ITP tax (Impuesto sobre Transmisiones Patrimoniales) when buying resale property, or 5% ITP plus 0.5% stamp duty if purchasing new property
   
• Notary fees
   
• Property registration fee
   
• Plus valia (capital gains tax)
   
• If you buy in the name of a company you are also liable to pay IVA (VAT) or IGIC, the Canarian equivalent.