Buying a Property in Mallorca is an increasingly attractive option for European citizens looking to invest, enjoy the Mediterranean lifestyle, or establish a second residence. Although the process is accessible, there are legal requirements that must be met, the most important being the obtaining of the NIE in Palma de Mallorca (Foreigner Identification Number).

At our consultancy firm in Palma, we have extensive experience in obtaining NIEs for European citizens. That’s why, in this article, we aim to clarify the most common questions our clients have. More and more European citizens are looking to buy a property in Mallorca, and this step is essential for doing so with full legal security.

Why is the NIE essential for buying a property?

The NIE is a unique number that identifies foreigners in Spain for legal, tax, and administrative purposes. In Mallorca, it is indispensable for:

• Signing the public deed before a notary.
• Registering the property in the Land Registry.
• Opening a local bank account.
• Handling taxes related to the purchase.

Required documentation for European Union citizens

If you are an EU citizen and wish to purchase property in Mallorca, you must present the following documents:

• NIE: It can be requested at a police station in Mallorca or at the Spanish consulate in your country. You will need form EX-15, a passport, and proof of economic purpose.
• Valid passport or ID: Required both for the NIE application and contract signing.
• Proof of financial solvency: Bank statements, employment contract, or other documents proving the legal origin of funds.
• Spanish bank account (recommended): Facilitates payments, tax management, and direct debits. Many sellers in Mallorca require it.
• Legal representation (optional): You can grant power of attorney to a lawyer or gestor to act on your behalf if you do not reside on the island.

Additional steps and key procedures

1. Apply for the NIE: This is the first step. It can be processed in Mallorca or at the Spanish consulate in your country.
2. Find and reserve the property: Once you have the NIE, you can sign a reservation or deposit contract with a local agency.
3. Sign before a notary: The public deed is drafted and signed in the presence of a notary in Mallorca.
4. Property registration: Registering the property is mandatory to be listed as the legal owner.
5. Payment of taxes and expenses: These include VAT or ITP (depending on whether the property is new or second-hand), notary and registration fees, and potential bank commissions.

Frequently Asked Questions

Can I buy a property with just a passport? You can start the process, but you will need an NIE to legally formalize the purchase in Mallorca.
Do I need to reside in Spain?
No. You can purchase a property as a non-resident, provided you have the NIE and meet the legal requirements.

Why is a Spanish bank account useful?
It simplifies purchase operations, tax payments, and may be required for obtaining a mortgage in Mallorca.

Conclusion

Buying a property in Mallorca as a European citizen requires obtaining the NIE as a key step. Having all the necessary documents ready and working with a specialized consultancy in Mallorca can make the process faster and more secure.
If you’re considering investing in property in Mallorca, our team can assist you with:

• NIE application
• Contract review
• Tax and notarial management
• Property registration

Contact us and we’ll guide you every step of the way in your property purchase in Mallorca.