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      FAQ about Monforte del Cid

      Can foreigners buy apartments in Monforte del Cid?
      Yes. There are no restrictions on buying property in Spain, whether it's commercial, residential or land. In fact, Spain encourages investment by foreigners, both resident and non-resident. You will require a financial number which can acquire by visiting a police station with your passport.
      How do I buy an apartment in Monforte del Cid?
      The process of buying a property in Spain usually runs as follows. First, the buyer makes an offer, usually through the seller's real estate agent. If this is accepted, then the buyer and seller sign a preliminary contract (contrato privado de compravento) and the buyer pays a deposit, typically 10% of the purchase price. Then the agent helps to organise property check and if there're no burdens or restrictions, a final sales contract is prepared.
      Do I need a Spanish bank account to buy an apartment in Spain?
      Yes. You will want a bank account in Spain once you have bought your apartment in Monforte del Cid. This will enable you to set up direct debits and standing orders to pay for your utilities and bills.
      Can I get a mortgage in Spain?
      Yes. Although to get a mortgage in Spain you need NIE (Número de Identificación de Extranjeros). If you're in Spain, you can start the NIE application process at any local police station. Outside of Spain, the best way to apply for an NIE is to contact your local Spanish consulate.
      What is a Spanish residence permit?
      A long-term residence permit allows you to stay in Spain indefinitely, working or otherwise, under the same conditions as Spanish citizens. You can apply for Spanish nationality after 10 years of residence in Spain.
      How do I get a residence permit in Spain?
      Dedending on type (for students, for investors, etc.) you can obtain Spanish residence permit at Foreigner’s Office in Spain or at Spanish Consulate in your country of residence.
      How long does it take to get residency in Spain?
      The terms are based on the type of the residence (for students, for investors, etc.). Some of them can be obtained in less than one month.
      Can I get residency in Spain if I buy property?
      Yes. If you buy property in Spain you can get a Spanish residency permit, which allows you to live in Europe. The only challenge is the paperwork, and you must invest at least 500,000€.
      How can I get permanent residency in Spain?
      You can get permanent residency in Spain after 5 years of legal residence.
      How long does it take to become a citizen in Spain?
      The standard criteria for citizenship in Spain is 10 years of legal residence. There are reduced terms (1, 2 or 5 years) for residency based on naturalization, origin, option, etc.

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      Anastasia Shchepetova
      Real Estate Expert Tranio in Monforte del Cid
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