Since the 3rd January 2012, there have been new rules in place which state how foreign investors of property in Spain can obtain their foreign ID numbers. With the new rules in place, the numbers can only be obtained by going to Spain or your local Embassy in person – a power of attorney is no longer acceptable.

This has divided the real estate market in Spain, with some professionals believing that potential investors would be treated with contempt or like dirt at the local police stations, however others disagree. One real estate agent stated; “We have never, in 28 years of trading, had a problem with buyers obtaining their NIE in person. Admittedly it can be a hassle but if people are pre-warned and prepared they simply accept it. Of course no one likes hanging around for anything but Spain is legendary for its bureaucracy, and most people are aware of that, so it’s expected and almost part of its charm.”

Many don’t believe that the new rules will put anybody off of buying a property in Spain and many estate agents can provide details of experienced fiscal representatives who can help people obtain their numbers. Those who are serious about owning property in Spain will not mind spending a short time filling out paperwork at their local police station.

For details of property for sale in Spain, visit the Spain listings on Rightmove Overseas. One way to save money when buying in Spain to use a currency specialist when transferring your pounds into Euros to complete the purchase of your property. For more information on this, contact Smart Currency Exchange.

To understand the full step-by-step process to buying a property in Spain, collect The Overseas Guides Company’s ‘Spain Property Buying Guide’