Diversity and Inclusion Report
Introduction
At VOGUIMMO, we firmly believe that diversity is a strength. We are committed to fostering an inclusive workplace that respects differences and offers equal opportunities to everyone.
Team Composition
| Criterion | Percentage (%) | Comment |
|---|---|---|
| Women | 55% | Strong commitment to equality |
| Men | 45% | |
| Employees from diverse cultural backgrounds | 20% | Ongoing multicultural recruitment |
| People with disabilities | 5% | Accessibility and support measures in place |
Initiatives Undertaken
- Regular awareness campaigns on diversity and inclusion.
- Manager training on equal opportunities.
- Open and non-discriminatory recruitment.
- Continuous improvement of onboarding and integration conditions.
Objectives for 2026
- Achieve 25% employees from diverse cultural backgrounds.
- Strengthen recruitment of people with disabilities.
- Continue inclusion training programs.
Contact Us
For any questions or comments regarding our diversity policy, please contact us via our Contact page.
FAQ: Investing in Spanish Real Estate
Investing in Spanish real estate presents unique and attractive opportunities. Understanding the legal framework and tax implications is crucial to secure and optimise your investment.
The first crucial step is obtaining the NIE (Número de Identificación de Extranjero), the foreign identification number, which serves as your tax identification number. It is essential for any economic transaction, including purchasing property, opening a bank account, or signing contracts. We also recommend opening a Spanish bank account and selecting a solicitor (or attorney for US investors) specialized in Spanish real estate law, whose expertise is invaluable for navigating the process.
The role of your legal advisor is fundamental. They perform comprehensive due diligence, verifying the absence of encumbrances, mortgages, unpaid debts, or urban planning issues related to the property. Your solicitor/attorney is also responsible for drafting and reviewing all contracts, managing administrative and tax procedures, and representing you during the signing of the escritura pública (public deed of sale). Never underestimate the importance of independent legal advice.
In Spain, acquisition costs (often referred to as 'closing costs' by UK/US buyers) are added to the purchase price and can range between 10% and 15% of the amount. They primarily include:
- Property Transfer Tax (ITP) or VAT (IVA) + Stamp Duty on Documented Legal Acts (AJD), depending on whether it's a resale or new build property.
- Notary fees (notaría) for the deed of sale.
- Land Registry fees (Registro de la Propiedad).
- Solicitor/attorney fees and, if applicable, real estate agency fees.
- Bank fees, if you use financing.
The Escritura Pública is the official deed of sale signed before a Spanish notary. It is the legal document that formalizes the transfer of ownership from the seller to the buyer. It is essential because it grants legal validity to the transaction and allows the property to be registered in the Registro de la Propiedad (Land Registry), thus making your title of ownership enforceable against third parties. Without this registration, your property would not be fully legally protected.
As a non-resident property owner, you will be subject to several annual taxes:
- The **Non-Resident Income Tax (IRPF)**, payable for the deemed income from the property (even if not rented out) or on rental income if the property is let.
- The **Property Tax (IBI)**, an annual municipal tax based on the cadastral value of the property.
- Where applicable, a wealth tax (Impuesto sobre el Patrimonio), which varies depending on the Autonomous Community and the total value of assets.
The Contrato de Arras is a preliminary reservation contract that legally binds both the buyer and the seller. It is signed before the escritura pública and involves the payment of a deposit, typically 10% of the sale price. This contract specifies the conditions of the sale and a deadline for the final signing. If the buyer withdraws, they forfeit the deposit. If the seller withdraws, they must return double the received deposit. It ensures security for both parties during the due diligence period.
The type of acquisition tax depends on whether you are buying a new build or a resale property. Here's an overview:
It is essential to know the specific rates for the Autonomous Community where you are purchasing.
| Property Type | Main Tax | Indicative Rate | Other Taxes |
|---|---|---|---|
| Resale Property | Property Transfer Tax (ITP) | 6% - 11% (depending on region) | No VAT or AJD |
| New Build Property | Value Added Tax (IVA/VAT) | 10% (residential) / 21% (land, commercial premises) | Stamp Duty on Documented Legal Acts (AJD): 0.5% - 1.5% (depending on region) |
The Golden Visa is a residence program for investors. It allows non-EU citizens and their families to obtain a residence permit in Spain. The main eligibility conditions include a real estate investment of at least 500,000 euros (excluding taxes and fees), the acquisition of shares or equity in Spanish companies for a minimum of 1 million euros, or a bank deposit of 1 million euros. It offers the freedom to travel within the Schengen Area and the possibility of obtaining permanent residency after 5 years and citizenship after 10 years.
Non-residents can obtain financing from Spanish banks, but the conditions differ from those for residents. Banks generally finance up to 60% or 70% of the purchase price or valuation (whichever is lower). The process involves presenting proof of income, savings, and financial status from your home country. It is advisable to consult several banks and compare offers, or to use a mortgage broker.
Risks include urban planning issues (property built without proper permits), undeclared charges or debts (mortgages, repossessions), property disputes, or hidden defects. This is why a solicitor's/attorney's due diligence is so important. A competent professional will identify and resolve these issues before you commit. Avoid any unverified or rushed transactions.
The Plusvalía Municipal (officially Impuesto sobre el Incremento de Valor de los Terrenos de Naturaleza Urbana, or Tax on the Increase in Value of Urban Land) is a local tax payable upon the sale of a property. It taxes the increase in the value of the land on which the property is built, from its acquisition to its resale. Traditionally, this tax was the seller's responsibility, but in case of non-payment, it can be claimed from the buyer. It is essential to ensure its payment during the transaction.
The timeframe generally varies between 1 and 3 months. This period is used for:
- Performing all legal and technical verifications (due diligence).
- Obtaining necessary financing, if applicable.
- Preparing all required documents for signing before a notary.
- Planning the transaction logistics and party availability.
Yes, it is entirely possible to purchase a property remotely. To do this, you can grant a notarized power of attorney (poder notarial) to your solicitor/attorney or a trusted person. This power of attorney will allow them to represent you for all procedures, including opening a bank account, obtaining your NIE, and signing the Contrato de Arras and the Escritura Pública. It is a practical and secure solution when properly managed.
Investing in new build property offers several advantages:
- Properties are often more modern, with recent construction standards and better energy efficiency.
- Legal warranties from developers (for construction defects) for several years.
- Fewer maintenance works to anticipate in the short term.
- Access to developing areas.
At Voguimmo, we offer personalized and comprehensive support. As senior legal and real estate experts, we guide you through every step: from finding the ideal property to legal due diligence, through tax optimization and coordination with all stakeholders (notary, bank, Land Registry). Our goal is to make your investment in Spain smooth, secure, and compliant with your expectations, by managing all complexities for you.
