Spanish property investors reminded of importance of obtaining NIE
Investors seeking to purchase property in Spain have been reminded of the importance of obtaining a numero de identification de extranjero (NIE), an identification number given to non-residents.
Banco Halifax Hispania states that investors should seek to apply for an NIE early to ensure that problems do not arise later when buying a property, since the number is essential in setting up utility connections, business permits, Spanish driving licences and making large purchases.
Furthermore, investors are excluded from buying Spanish property without the possession of an NIE, which can be obtained with the help of a passport and written justification behind getting one, the company reports.
Ian Smith, head of European operations at Halifax, commented: "For many people, buying a property abroad is a very exciting time, but it is important to plan well in advance for your purchase."
"You need to get your NIE as soon as possible, as any hold-ups later down the line may mean that you miss out on your dream home," he added.
Recently, Darren Fretwell, head of UK sales at NatWest International, told Mortgage Solutions that Spanish property is still the "jewel in the crown" of European property investment.
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