If you wish to buy Spanish property with your Belgian company, your company will be operating in Spain. This means that the company must be registered in Spain in the commercial register and be known to the Spanish tax authorities. This article discusses the steps you need to take before your company can buy property in Spain.
The video below is a summary of this blog created using artificial intelligence.
Step 1: Sworn translation of the articles of association
First of all, you need a sworn translation of the certificate of incorporation and the extract from the UBO register. Next, the translated documents will be legalised.
You should clearly state the powers of the manager or director. It is therefore advisable to have the appointment resolution of the general meeting translated as well.
Note: state in the articles of association that your company carries out real estate activities.
Step 2: Signing a notarised power of attorney
With a notarised power of attorney, we can handle all further steps for your company. This power of attorney should be drawn up by a notary in your home country. After all, a Spanish notary cannot simply check whether you as director can legally represent your company.
Step 3: Registration of your company in Spain
You can register your company with the Spanish Trade Register and the Tax Office with the translated articles of association and a copy of the CBE. You will then receive the company number or CIF number.
In addition, the company will also need a Spanish bank account. Only the manager or director can open this account.
Step 4: Signing the notarial deed of sale
Once the above formalities have been taken care of, you can sign the notarised deed of sale as the legal representative of the company.
However, you personally also have a NIE number required. This is a tax identification number for non-residents in Spain.
Step 5: After the sale
After the purchase, the company will have a branch in Spain. For this reason, your company will have to file a Spanish tax return. The taxes for non-resident companies are basically the same as for individuals.
Update: February 2023