From 1 February 2024, a new mandatory rule came into force to declare investments by non-resident foreigners (both individuals and legal entities) in real estate located in Spain whose amount exceeds €500,000 (previously this limit was €3,005,060.52).
It is also compulsory for investments from countries classified as tax havens, in this case independently of the amount invested.
For such a declaration, the purchasing party must file a form called Form D2A with a maximum filing period of 1 month from the time the investment is made.
In the event that the money comes from tax havens, this declaration must be made beforehand by drawing up a memorandum explaining the investment to be made.
The selling party, if a non-resident foreigner sells a property in Spain for more than €500,000, must also file a form called D2B within a maximum period of 1 month at the time of the sale to declare the divestment made.
These forms must be processed electronically with a recognized electronic certificate in the AFORIX program of the Foreign Investment Register of the Ministry of Economy, Trade and Enterprise.
However, if the transaction is carried out with a Spanish notary, it is the notary who submits the models to this Register no later than 1 month from the date of signing of the transaction.
Therefore, it is necessary to process them beforehand in order to be able to deliver the models to the Notary before the signature in order to incorporate them into the protocol. In this way, it is the notary who will then process the registration in the investment register.
