Buying a home in Mallorca in 2023 | Buyer's Guide

In 2021, how should you buy or rent property in Mallorca?

Visas

Digital Nomad Visa – the new kid on the block

Main options remain NLV or GV

The Golden Visa is a new option for UK property buyers.

By investing 500.000€ in a Mallorca home, you would be able to reside on the island for up to 183 days each year and have freedom of movement within the Schengen Area without impacting your UK fiscal status.

Why is a Spanish Military Permission now required to purchase property in Spain?

The Spanish Military Permission requirement is a 1975 law that affects "real estate restricted access areas for non-EU citizens" and is necessary for purchases of rural land in the Balearic Islands.

The comprehensive adjustments to buying a house in Mallorca following Brexit can be found at Balearic Properties. Brexit Handbook

Foreign and Commonwealth Office (FCO)

This book provides legal guidance, critical information, grievances, and much more to British nationals looking to buy property in Mallorca.

It should be studied in conjunction with the booklet 'How to Buy Property in Mallorca' for a better understanding.

Legal counsel

If you want to buy or sell property in Spain, it is highly recommended that you engage an independent property lawyer that specializes in urban and Spanish land law. The lawyer should be independent in the sense that he or she is solely looking out for your interests and not the interests of the developer or real estate agent.

Because the conveyance procedure for Spanish properties differs from that of the United Kingdom, it is critical that all individuals participating in the transactions are skilled and qualified in Spanish property law. Be wary of dishonest lawyers, promoters, or real estate brokers that encourage you to cut corners in order to increase revenues and save time.

Spain has notaries.

Spanish notaries public are accessible and will prepare the contract for sale or purchase; they will also issue the public deeds. As a buyer, you have the right to select your own notary public.

The final purchase contract will be prepared by a public Notary, who will also issue the public deeds for the land registry.

Buyers can choose which notary they want to use, although it should be in Mallorca if they are purchasing a home on the island.

Notaries are public servants responsible with providing unbiased and free legal advice on all aspects of contracts signed by you. As a result, it is critical to seek their guidance early on in the contracting process. As soon as the contract signing date is scheduled, you will have around three days to consult with the notary and seek their guidance on any elements of the relating documents.

British lawyers, promoters, and estate brokers in Mallorca.

If you intend to engage with a British lawyer, publicist, or estate agency, you must first determine whether they have

• The necessary experience, qualifications, and dependability to conduct business in Spain.

• Member of the UK Law Society.

• International transactional specialization.

Furthermore, if the lawyer is based and practicing in Spain, you should examine their registration number and whether they follow the norms of the local bar association. (Abogados College).

You should also make certain that the lawyer with whom you will be working has professional endorsement insurance. You should make certain that the lawyer does not sign or hand over any paper or money until you have obtained independent legal advice. Property-Lawyers.com is a fantastic place to find local Spanish lawyers who are members of the Spanish Bar Association.

Though the British embassy is not authorized to recommend a lawyer, they do give a list of all English-speaking lawyers who are competent to practice law in the UK, as well as a list of local English translators, on their website.

Gestorias

Many people in Spain choose to engage 'Gestors' who can execute bureaucracy on their behalf. Only those Gestors who are properly qualified and carry the GA kite mark are referred to as Gestor Administrativo. These gestors are authorized to process any type of documentation with the Spanish Administration directly. More information about the use of Gestors can be found here.

Legal aid for property disputes

If you are involved in a property dispute and are unable to pay the expenses of a court hearing and case, you have the right to seek legal counsel and assistance. More information on this can be found on the European E-Justice Portal. If you are a Spanish resident, you must apply for legal aid at the local bar association.

In this regard, you might seek the services of a lawyer who specializes in compensation claims against private parties such as banks, developers, or agents for any claims against regional, local, or state governments.

Translators

If you do not fully understand or speak Spanish, you must ensure that all legal documents and contracts are properly translated by an impartial translator you employ.

The official website of the Spanish Ministry of Foreign Affairs includes a list of accredited interpreters and translators in Spain.