Client stories · Spain
Buying property in Barcelona as a foreigner: how an investor bought a $1.8 million penthouse with a view
Nick asked Murblz to find him an investment property, and Murblz specialists supported the whole purchase.
- ClientNick
- Froma country under EU sanctions
- Propertytop-floor penthouse with two terraces and a fireplace, central Barcelona
- Outcomeresidence permit and NIE, BBVA account, penthouse bought
- Deal budget$2,000,000 (€1,760,860)
- GuideBuying an apartment in Spain
A foreigner buying property in Spain needs a foreigner's identity number (NIE) and documents that show where the money came from.
The client
Nick planned to pay the full price from his own money, without a mortgage. He had made that money trading crypto.
Why the bank said no
The bank would not accept his proof of that income. Under Spain's anti-money laundering law of 2010, banks and notaries check where the money for a property purchase comes from.
What we did, step by step
- Residence permit and NIE. EU sanctions rules bar banks in the EU from accepting deposits of more than $120,000 (€100,000) per bank from citizens of the sanctioned country. Murblz specialists arranged Nick's Spanish residence permit and his NIE. Routes to residency are compared in the Murblz guide on how to get residency in Spain.
- A BBVA account. Murblz specialists prepared documents showing that the money came from trading, drafted the answers to the bank's follow-up requests and accompanied Nick to the bank. BBVA accepted the documents and opened his account.
- The penthouse. Murblz specialists found Nick a penthouse with a great view: 167 m² of built area by the cadastre, two terraces, a fireplace and two underground parking spaces. Prices by district are in the Murblz guide to apartments in Barcelona.
- The checks. A resale property can carry the seller's mortgage or a court attachment. An architect inspected the penthouse before the reservation, and Murblz specialists checked its legal status.
- Reservation and deposit. Nick reserved the penthouse and then signed a deposit contract before a notary.
- The deed. Nick signed the deed of sale before a notary and paid the balance from his BBVA account. The land registry entered him as the owner.
- Taxes. A Murblz consultant planned the sale of Nick's crypto to keep the tax bill to a minimum. Murblz specialists helped him pay his taxes and filed all his required tax declarations in Spain. They dealt with a tax claim and secured a recalculation in Nick's favour. The Murblz article on crypto tax in Spain sets out the rules for residents.
What the purchase cost
Catalonia charges transfer tax on resale homes. For deals from 27 June 2025 the rate rises with the value: 10% up to $670,000 (€600,000), 11% up to $1,100,000 (€900,000), 12% up to $1,700,000 (€1,500,000) and 13% above that. Each rate applies only to the part of the value within its band, and resale homes carry no VAT.
The table applies this scale to the price. Every other amount comes from the deal documents.
| Item | Amount |
|---|---|
| Penthouse with two parking spaces | $1,800,000 (€1,578,000) |
| Seller's furniture | $7,900 (€7,000) |
| Transfer tax | $200,000 (€175,200) |
| Notary, deposit contract | $740 (€660) |
| Taxes and fees on top of the price | $200,000 (€175,860) |
| Total | $2,000,000 (€1,760,860) |
The table leaves out the notary's and the land registry's fees for the deed.
Taxes after the purchase
Barcelona charges property tax (IBI) at 0.66% of the cadastral value, with a metropolitan levy on the same bill. The tax falls on whoever owns the property on 1 January.
Catalonia charges its residents wealth tax on what they own on 31 December, at rates from 0.21% to 3.48%, and the first $560,000 (€500,000) of net wealth is tax-free. Spain's solidarity tax on large fortunes starts at $3,400,000 (€3,000,000) of net wealth.
Successful outcome
Nick received the keys at the signing and now owns the penthouse.
Names and personal details have been changed to protect client confidentiality. The photo is illustrative.
You can do the same. Murblz specialists open the bank account, arrange residency and the NIE, find the property and support the purchase until the keys are handed over. The cost of support is on request from a manager.
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