When buying a property, a wide range of payment options is available. The question is: Can you buy a house with cash or Bitcoin?
The purchase of a house with cash is not allowed in Spain. The maximum amount a foreigner can pay in cash in the country is €15,000. Therefore, if you have the necessary funds to purchase the property, you will have to make the payment via bank transfer.
Regarding Bitcoin, in our doubt about acquiring a property with cash or cryptocurrencies, although it is an emerging market, it is allowed by law, as long as there is an agreement between the seller and the buyer to use cryptocurrencies as currency. There are real estate agencies in Spain that already accept cryptocurrencies as a form of payment.
The fact of using cryptocurrencies for the purchase of a property would not affect the taxation of the transaction, which would remain the same as in the case of a payment with traditional currency.
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Understanding the taxes related to the ownership of real estate in Spain is crucial for those seeking to acquire a property.
The advantages of buying a property in Spain
Buying a property in Spain provides the opportunity to take advantage of the economic and investment opportunities that the country offers.
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To buy property in Spain as a non-resident, it is necessary to obtain a NIE. The application for this can be made at the Consulate/Embassy.
Disclaimer: The information provided in this blog is for informational purposes only and does not constitute legal advice. We are not responsible for any loss or damage that may arise from the use of this information. It is recommended to seek professional advice for specific needs.
