Are foreigners allowed to own property in Madrid?

"Yes, foreigners are allowed to own property in Madrid. Non-residents of Spain are able to purchase property in the same way as Spanish citizens, and there are no restrictions on foreign ownership. However, foreign buyers must obtain a tax identification number from the Spanish Tax Office and must pay taxes on any income generated from the property. Additionally, foreign buyers must obtain a residence permit if they plan to stay in Spain for more than three months," wrote a member who made the move to Madrid, Spain.

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With over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.

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Balcells Group Lawyers

With over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.
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Click connect to have our partner contact you via e-mail and/or phone.