We answer the most common questions from property owners and investors who work with us on the Costa Blanca. If your question isn’t here, write to us and we’ll answer you personally.
What is dación en pago and how can it help me if I’m having trouble with my mortgage?
Dación en pago involves handing the property over to the lender to cancel the outstanding debt, thereby avoiding mortgage foreclosure proceedings and their legal and financial consequences. At Investments in Spain, we analyse your specific situation and help you negotiate the best possible solution with the bank — whether that’s dación en pago, a debt write-off, a debt restructuring, or selling the property before reaching that point.
Can I refinance my mortgage debt in Spain as a non-resident?
Yes. Many non-resident owners manage to refinance or restructure their mortgage, although the terms depend on the bank, your payment history, and the property’s situation. We support you throughout the negotiation process with the lender to try to secure better terms or a more sustainable payment plan.
What taxes do I have to pay as a non-resident when buying or selling a property in Spain?
As a non-resident you need to take into account, among others, Non-Resident Income Tax (IRNR), the 3% withholding on the sale price on account of that tax, the municipal capital gains tax (plusvalía), and, when buying, ITP or VAT depending on the type of property. Every case has its particularities, so we always recommend a personalised tax review with our team or your advisor.
What is the NIE and how do I get one?
The NIE (Foreigner Identity Number) is mandatory for buying, selling, or owning property in Spain, as well as for managing taxes and contracts. It can be requested at a Spanish consulate in your home country or, once in Spain, at immigration offices or authorised police stations. We guide you through the procedure and the documentation required for your situation.
What is ITP (Property Transfer Tax) and how much do I have to pay?
ITP is the tax paid when buying a resale property in Spain. The percentage varies by autonomous region; in the Valencian Community it usually ranges between 6% and 10% of the transaction value. We calculate this cost as part of the purchase expenses breakdown so you know the exact amount before signing.
What do I need to obtain a tourist licence on the Costa Blanca?
You need to meet the planning and habitability requirements of the relevant town hall, submit a responsible declaration to begin tourist activity, and have certain minimum facilities (hot water, air conditioning, furniture, etc.). Requirements vary by municipality. We help you check whether your property qualifies and handle all the paperwork.
How long does the whole buying and selling process take?
As a rough guide, between 4 and 8 weeks usually pass from signing the reservation deposit contract (contrato de arras) to signing the deed, depending on financing, the property’s registry status, and notary availability. We keep you informed at every stage so there are no last-minute surprises.
What are your fees and how are they charged?
Our fees depend on the type of service (debt management, buying and selling, tourist licence processing, etc.) and are always detailed in writing before we start working together, with no hidden costs. Contact us and we’ll send you a personalised quote for your case.