Americans can buy property in Spain freely — here is everything you need to know before you do
No restrictions on American ownership of Spanish real estate. What you do need to navigate: the 90-day Schengen rule, NIE, Spanish purchase taxes, FBAR reporting, and the right representation on the ground.
Three things that are different for US buyers in Spain
American buyers purchase Spanish property under the same legal framework as any other foreign buyer. There are no nationality-based restrictions on ownership. However, three areas require specific attention that EU buyers do not face.
The 90-day Schengen rule — and how to go beyond it
American citizens can visit Spain visa-free for up to 90 days in any 180-day period under the Schengen Agreement. This is sufficient for viewing trips, completing a purchase, and spending a few months per year in Spain. If you want to spend more time — or relocate permanently — you need a Spanish residency visa. The most common routes for American buyers are the Non-Lucrative Visa (NLV, for those with passive income or savings), the Digital Nomad Visa (for remote workers earning from non-Spanish sources), and the Golden Visa (for purchases of €500,000 or more, though this programme is being wound down). Owning property does not in itself give you the right to exceed the 90-day limit. Full guide to the Non-Lucrative Visa.
24% IRNR — the non-EU tax rate
As a non-EU national, you pay 24% IRNR (Impuesto sobre la Renta de No Residentes) on the imputed annual income attributed to your Spanish property — filed each year via Modelo 210. This compares to 19% paid by EU citizens. Additionally, non-EU residents cannot deduct rental expenses before calculating IRNR on rental income, whereas EU residents can. If you rent your property, your taxable base is the gross rental income at 24% — not the net. The US-Spain double taxation treaty means you receive a US foreign tax credit for Spanish taxes paid, avoiding double taxation on the same income. Full breakdown of Spanish property taxes for non-residents.
US reporting obligations: FBAR and IRS implications
American citizens must comply with US tax and reporting rules regardless of where they live or invest. Key obligations for Spanish property owners: (1) FBAR (FinCEN Form 114): if the aggregate balance of all foreign financial accounts — including your Spanish bank account — exceeds $10,000 at any point during the year, you must file an FBAR annually with FinCEN. A Spanish bank account opened for the purchase will almost certainly trigger this. (2) IRS Form 8938 (FATCA): direct ownership of foreign real estate is not itself reportable on Form 8938 — only foreign financial assets are. However, rental income and any gain on sale must be reported on your US return, with a foreign tax credit for Spanish taxes paid. (3) The US-Spain tax treaty prevents double taxation on most Spanish-source income. You should work with a US CPA experienced in international property before and after the purchase — the compliance requirements are routine for specialists but easy to miss without the right advice.
Buyer representation for Americans in Valencia and the Costa Blanca
reSELECTA works exclusively on the buyer’s side. We do not list properties for sellers. Our role is to find the right property for you and manage the full purchase — from first search to handing over keys.
Property search — listed and off-market
We search both publicly listed inventory and the off-market properties that never appear on Idealista, Rightmove, or Zillow’s international listings. In markets like Moraira and Javea, a significant share of the best properties change hands without being publicly advertised.
Independent valuation and assessment
We give you an honest view of what each property is actually worth, what the seller’s position is, and whether the asking price reflects market reality. Our incentive is your outcome — not closing any specific deal.
Negotiation on your behalf
We negotiate directly with the listing agent. The Spanish market has meaningful negotiation room that many buyers do not use — particularly Americans accustomed to tight US markets. We work to improve your position before contracts are signed.
Legal and due diligence coordination
We work alongside your Spanish solicitor through the full process: nota simple review, planning status, community fees, contract negotiation, and coordination through to the notary. We bridge any communication gaps between parties.
Tax and compliance referrals
NIE, IBI, Modelo 210, Spanish bank account setup, FBAR-aware banking — we explain each step and refer you to trusted professionals, including advisers with US-Spain cross-border experience where needed.
From first conversation to collecting keys
Most purchases for American buyers take three to six months from initial briefing to completion. Many buyers complete the NIE and open a Spanish bank account during a first viewing trip, so these do not delay the process.
Initial briefing
We talk through your criteria: location, property type, budget, intended use, and how much time you plan to spend in Spain. This determines whether Valencia city or the Costa Blanca is the right market for you.
Market search
We search listed and off-market inventory and filter to a curated shortlist that genuinely matches your criteria — not a broad list of everything within your budget range.
Viewing trip
We organise a viewing trip and accompany you to each property. For transatlantic buyers, we typically prepare detailed video walkthroughs in advance so the trip is efficient and decisive.
Offer and legal checks
We negotiate the offer. Your solicitor simultaneously reviews the nota simple, planning status, and community documentation. No deposit is paid before legal review is complete.
Completion
Balance is paid at the notary by banker’s draft from your Spanish account. The property is registered in your name. We coordinate handover and can recommend property management if you need remote oversight.
What makes us different
In the US, buyer’s agents are standard. In Spain, most agents work for the seller. reSELECTA is one of the few buyer-only representatives in Valencia and the northern Costa Blanca — which is exactly the model you are probably used to expecting.
Exclusively buyer-side
We do not list properties for vendors and cannot be paid by both sides of a transaction. Our fee comes from you. Our advice is not filtered through any seller’s or developer’s commercial interest.
The model you already understand
American buyers are familiar with the concept of a buyer’s agent working exclusively for them. In Spain this is unusual — which means most buyers here are working without real representation. You do not need to be one of them.
Off-market access
The best properties in Javea, Moraira, Altea, and Valencia rarely appear on the portals Americans typically browse. Our off-market relationships are built on years of local presence — not on listings scraped from Idealista.
Selective and personal
We work with a limited number of buyers at a time. For transatlantic buyers especially, this means responsive communication across time zones and advice that reflects your specific situation — not a generic process.
Questions American buyers typically ask
Can Americans buy property in Spain?
Yes — there are no restrictions on American ownership of real estate in Spain. US citizens can purchase property freely, hold it in their own name, rent it out, and sell it. Spain does not discriminate by nationality for property purchases. The main practical considerations for Americans are the 90-day Schengen visit limit (if you want to spend more time, you need a residency visa), the non-EU tax rate of 24% IRNR annually, and US reporting obligations including FBAR for foreign bank accounts. None of these prevent purchase — they are compliance and planning considerations.
Do I need to report a Spanish bank account to the IRS?
Yes, if the aggregate balance of all your foreign financial accounts — including your Spanish bank account — exceeds $10,000 at any point during the calendar year, you must file an FBAR (FinCEN Form 114) with the Financial Crimes Enforcement Network annually. The deadline is April 15, with an automatic extension to October 15. Penalties for non-filing are severe. A Spanish bank account is required to complete a property purchase in Spain (the balance at notary must be paid by Spanish banker’s draft), so virtually every American who buys property in Spain will need to file an FBAR. This is a routine requirement for Americans with international assets — your US CPA or tax adviser will handle it.
Do I need to report Spanish property itself to the IRS under FATCA?
Direct ownership of foreign real estate is not itself a reportable foreign financial asset under FATCA (IRS Form 8938). Spanish property held directly in your name is not reported on Form 8938. However, rental income from the property must be reported on your US tax return as foreign income, and any gain on sale is taxable in the US (with a foreign tax credit for Spanish capital gains tax paid). If the property is held through a foreign entity (a Spanish SL company, for example), that entity’s value would be a reportable foreign financial asset. Most American buyers purchase in their own name, keeping the structure simple and avoiding the entity reporting requirement.
Can Americans get a Spanish mortgage?
It is possible but less straightforward than for EU residents. Spanish banks typically lend to non-resident non-EU buyers at 60–70% LTV, and they require Spanish-verifiable income documentation — which is harder for Americans to provide than for Europeans with EU income sources. In practice, many American buyers purchase Spanish property with cash, or use a US home equity line of credit or portfolio loan rather than a Spanish mortgage. If you want to explore a Spanish mortgage, an international mortgage broker with Spanish lender relationships is the right starting point. Guide to Spanish mortgages for foreigners.
How does the Non-Lucrative Visa work for Americans who want to spend more than 90 days in Spain?
The Non-Lucrative Visa (NLV) is a Spanish residency visa that allows non-EU nationals — including Americans — to live in Spain without working there. Requirements: proof of passive income or savings sufficient to support yourself (approximately €2,400/month in 2025, based on 400% of Spain’s IPREM indicator), private health insurance valid in Spain, a clean criminal background check, and no intention to work for Spanish employers. The NLV is valid for one year, renewable for two-year periods, and leads to permanent residency after five years. It is particularly well-suited to retirees, those with investment income, and Americans whose income comes from US sources (pensions, Social Security, rental income, dividends). Full Non-Lucrative Visa guide.
Ready to start? Tell us what you are looking for.
We work with a small number of buyers at a time. If you are serious about purchasing in Valencia or the Costa Blanca, a conversation about your criteria is the right first step.
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