60–70%
Mortgage LTV
Required
FATCA Reporting
€500k+
Golden Visa
US-Spain DTA
Tax Treaty
Can Americans Buy Property in Spain?
Yes — there are no restrictions on foreign property ownership in Spain for US citizens.
- No restriction on buying property
- You need an NIE number (foreigner ID)
- You need a Spanish bank account
- No residency required to buy
- Golden Visa available with €500k+ investment
US Tax Considerations
Americans are taxed on worldwide income — Spanish property has US reporting implications.
- FATCA: report foreign accounts over $10k (FBAR)
- Form 8938 if foreign assets exceed thresholds
- Rental income: taxable in both US & Spain (DTA credit)
- Spanish property tax: deductible on US return
- Get a US-Spain dual-qualified CPA
Mortgages for US Buyers
Spanish banks can lend to US non-residents, but FATCA compliance adds paperwork.
- Max LTV: 60–70% for non-residents
- Banks may ask for FATCA/W-9 documentation
- US credit reports not used — bank assesses income
- Sabadell & BBVA most experienced with US clients
- Expect 3–5% in mortgage setup costs