Can Americans Buy Property in Spain?

Yes. There are no restrictions on US citizens buying property in Spain. You don't need to be a resident, and you don't need a visa.

The process is the same as for any foreign buyer: get an NIE number, open a Spanish bank account, find a property, and complete the purchase through a notary.

See our complete buying guide for the full process.

US Tax Considerations

Americans are taxed on worldwide income — so owning Spanish property has US reporting implications. This is the biggest difference for US buyers.

FATCA & FBAR

FBAR (FinCEN Form 114):

• Required if the total of your foreign bank accounts exceeds $10,000 at any point in the year
• Filed electronically with FinCEN, not the IRS
• Due April 15 (automatic extension to October 15)
• Your Spanish bank account will likely trigger this

FATCA (Form 8938):

• Required if your foreign assets exceed certain thresholds
• Thresholds vary by filing status and residency:
  • Single, living in US: $50,000 on Dec 31 or $75,000 during the year
  • Single, living abroad: $200,000 on Dec 31 or $300,000 during the year
• Filed with your annual tax return

Rental Income

If you rent out your Spanish property:

• Spanish tax: 19% of gross rental income (non-resident rate)
• US tax: Taxable on your US return, but you can claim a foreign tax credit for the Spanish tax paid
• The US-Spain Double Taxation Agreement prevents double taxation

Capital Gains

When you sell a Spanish property:

• Spanish capital gains tax: 19–28% for non-residents
• US capital gains tax: Taxable on your US return, with a foreign tax credit for Spanish tax paid

Getting Professional Advice

US-Spanish tax is complex. Get a dual-qualified CPA who understands both systems. The cost (~€1,000–€3,000/year) is worth it to avoid penalties and optimise your position.

Mortgages for US Buyers

Spanish banks can lend to US non-residents, but FATCA compliance adds paperwork.

Loan-to-Value

• Non-residents: 60–70% LTV
• Same as other non-EU buyers

Which Banks Work with Americans?

• Sabadell: Experienced with US clients, understands FATCA
• BBVA: International desk, handles US documentation
• CaixaBank: Works with non-residents, including Americans

What You'll Need

• Standard mortgage documents (see our mortgage guide)
• W-9 or W-8BEN (FATCA documentation)
• US tax returns (last 2–3 years)
• Proof of US income

US credit reports are not used by Spanish banks — they assess your income and debt-to-income ratio directly.

Mortgage Costs

Expect 2–3% of the loan amount in setup costs. See our buying costs guide.

The Golden Visa

Spain's Golden Visa programme grants residency to non-EU investors who invest €500,000 or more in Spanish property.

Key Points

• Minimum investment: €500,000 in real estate (per applicant, not per property)
• Residency: For the investor and their family
• Work rights: Yes, you can work in Spain
• Validity: Initial 3 years, renewable
• Path to citizenship: After 10 years of residency

Important: The Spanish government announced plans to end the Golden Visa programme in 2025. Check the current status before relying on this route. See our buying guide for updates.

Alternative Visas

If the Golden Visa is no longer available:

• Digital Nomad Visa: For remote workers (great for US tech workers)
• Non-Lucrative Visa: For retirees and those with passive income
• Entrepreneur Visa: For starting a business in Spain

Practical Tips for American Buyers

Banking

• Spanish banks are familiar with US clients but the process is slower
• Expect to provide extensive documentation (FATCA compliance)
• Wire transfers from the US can take 3–5 days
• Consider a currency broker for better exchange rates

Language

• In major cities and tourist areas, English is widely spoken
• For the notary, you may need a sworn translator (€100–€200)
• A bilingual lawyer is essential

Power of Attorney

If you can't attend the notary in person, your lawyer can sign on your behalf with a power of attorney. This needs to be notarised and apostilled in the US.

Time Zone

• Spain is 6 hours ahead of US Eastern Time
• Plan your calls and document exchanges accordingly
• A Spanish lawyer who works with US clients will accommodate this

Next Steps

• Read the complete buying guide
• Get your NIE number
• Understand the costs
• Read the mortgage guide
• Browse properties
• Take the area quiz

Buying in Spain as an American is very achievable — the main complexity is US tax reporting, not the Spanish side. Get a good dual-qualified CPA, understand your FATCA/FBAR obligations, and enjoy your Mediterranean home.