You will need a Local bank account, probably a current account.
Non-residents can open a non-resident account. You will be provided with
a chequebook, although cheques are not used with the same frequency as in the UK. Note that post-dating a cheque is ineffective, it can be drawn on immediately. Many Spaniards ask for cheques to be made out to the portador i.e. cash, to avoid declaring it for tax purposes.
Residents have 15% of interest earned deducted direct for tax purposes, though you can recover this if you are not liable for tax. Bank charges
Overseas are high, even for routine operations. Commission on transfers out of Spain varies tremendously.
Packed with practical details such as contact addresses, flight information, useful vocabulary and maps, this is the essential and definitive guide to buying a property in Spain
Spain is the perfect location for a home in the sun, but buying a property is not all about sunshine and sangria. The Complete Guide to Buying Property in Spain is the most comprehensive and up-to-date source of information available. It deals with the details of buying or renting a home in Spain in a practical, straightforward style, covering every issue you will need to consider, including:
choosing your location - the regions of Spain, their property markets and transport links
every step of the purchasing process
Spanish inheritance and taxation rules
health and education
adapting to your Spanish lifestyle
renting a home in Spain
letting your Spanish home
setting up a business in Spain
From the author of the best-selling Complete Guide to Buying Property in France:
'Deals with all the issues.' The Observer
Charles Davey graduated from the Oriel College Oxford. He studied Law at Nottingham Law College and is a practising barrister.
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1.517 €/£. Last updated at 16:29 on the 24 January 2007
