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Guide to buying a home in Spain for Russian investors
We note that there is increasing interest in acquiring a property in Spain by Russian investors and investors from the former Soviet Union. According to some surveys, one in four Russian citizens intending to purchase a home outside Russia, intend to buy in Spain.
Whether you spend long periods in Spain, or as an investment, the number of persons of Russian nationality who bought in Spain in recent years has grown significantly and the upward trend is increasing.

Encouraged by low prices caused by the housing crisis and the great temperature of their coasts, venture into the Internet and weekdays for your dream Spanish property. In Spain find a country that welcomes them with enthusiasm. Come in Spain, especially on the Costa del Sol, a place with an exceptional climate and unique in Europe, prospects for work and start a new life with their families, and extraordinary business opportunities. Given the demand, more and more in real estate, hotels, restaurants, lawyers and businesses that also offer their services in Russian. Still, the cultural and language difference makes it necessary that the investor is familiar with the buying process in Spain, so you can make a successful investment.

Here are some tips that will be useful:

1 .- You will need to have a local realtor to help them find housing they want, taking into account the amount they are willing to invest, and the choice of area and type of housing. Also, inform them the best opportunities in the city selected. The estate agent can guide them in the area where they want to purchase, on very different subjects (from which lawyers speak his language, even where they can buy furniture and appliances they need, once purchased through housing associations, gyms, plumbers, electricians, etc.).

2 .- It is advisable to have a lawyer himself, if possible, local staff who can assist in all steps leading to a sale, and do so independently (which is not also counsel for the seller):

. Obtaining an NIE (foreign identification number) that will allow them to buy in Spain, and pay taxes in this country.

. Opening a bank account to make payments and thereafter for household electricity supplies, water, community ownership and local taxes.

. Study of the chosen property.

. Preparation of private contract with delivery to the owner of a deposit of approximately 10% of the price prior to purchase.

. Preparation, if needed, a mortgage to finance the purchase.

. Public Notary signing of the Deed of Sale and transfer of keys.

. Paying taxes and registration of the property to the buyer at the Land Registry.

. Change of phone contracts, water and electricity to the new owner.

3 .- Should you require mortgage, investors need to make the bank the following documents:

. Proof of residence in their usual residence (by an electricity bill in his name for that seat, or local tax receipt for that property)

. Copy of bank statements for accounts that capture the movements account for a period of six months.

. Copy of taxes paid in the last two years.

. A letter of introduction from your bank usual.

. Documentary proof of their income.

. Documents of ownership of your home and your car.
It is important that these documents are originals, and are translated into Spanish with a translator. Them in Spanish consulates can provide lists of translators who work it, and can check the translations later.

Even if you do not need mortgage, it's always interesting to add at least part of this documentation to the bank when opening a bank account as a way to present it. They have to take into account that Russia is a non-EU country, so many banks to open an account, we ask for information about their livelihoods and income, in a document. Having this documentation prepared in advance all procedures greatly facilitates the purchase.

If married according to the investor community of property, usually in Russia and other countries of the former Soviet Union will require the signatures of both spouses on the deed of sale and the mortgage, and will need to provide the NIEs of the two spouses. If one can not appear, you will have to give the spouse a power of attorney signed, authorizing the signing of the mortgage, and authorizing the obtaining of the NIE. This is very important as it can be a problem for the purchase if not resolved soon. The investor's lawyer can tell you how to proceed in this case.
4 .- Expenditure: The purchase price of the property must be added approximately 10% if they purchased the property with no mortgage, and 12%, if a mortgage is acquired. These costs include notary services, the Registrar and the prosecutor, and the payment of taxes due.

5 .- Once purchased the property, if they come regularly to Spain, can apply for a multivisado in the Spanish Consulate nearest to your home, attaching the document of ownership of your home, a simple note registrar of it, with your name ; and NIE (foreign identification number).

Our lawyers are russian speaking with great experience in solving problems for russians in Spain.