FAQ

Yes.

• The minimum own contribution is determined by each Bank individually, however, it cannot be lower than 30%,
• the loan can be taken out for a period of 30 years, however, up to the age of 75 (i.e. assuming that we apply for a loan at the age of 60, the maximum period will be 15 years),
• the loan interest rate is very different and depends on the bank where we apply for a loan, we can say that on average it is about 2.7% + one-year EURIBOR,
• the procedure for early repayment of the loan is usually the same as in Poland, i.e. after 3 full years from taking out, the loan can be repaid in full or overpaid without additional fees.

• Certificate of having an account from the bank – bank opinion (translated into Spanish),
• list of income earned from the previous year or for the current year – balance sheet (translated into Spanish – e.g. PIT settlement with the Tax Office),
• current certificate of earnings (in case of work) translated into Spanish,
• photocopy of passport,
• BiK excerpt,
• N.I.E. number

Taxes from the Andalusia region:
Taxes related to the purchase of real estate are divided into one-time ones:

• VAT on the primary market 10%,
• transfer tax,
• ownership secondary market 7%,
• AJD tax (Actos Jurídicos Documentados), i.e. Polish PCC – 1.2% of the purchase price – reduced from 1.5%

And the annual ones:

• Property tax ( ibi ) and garbage collection,
• tax for non-residents ( irnr ),
• wealth tax (“impuesto sobre el patrimonio”) – FROM 21/09/2022 THE “0” RATE IS APPLICABLE UNTIL FURTHER NOTICE

All formal issues, including arranging the NIE number, opening an account, conducting the Anti-Money Laundering process and even media rewriting can be outsourced to a hired specialist lawyer who will guide us through the purchase process from A to Z.

As PlanoSpain, we cooperate only with reputable law firms with many years of experience on the market and, most importantly, with the full process in Polish.