Legal advice for foreigners in the purchase of homes
Buying homes in Catalonia has always been one of the favorite options for investors from around the world. The territory has very attractive economic, industrial, cultural, social and geographical conditions.
In addition, the return on these operations tends to be more profitable and secure than investment in other sectors and places. This is a question to which must be added the facilities that the State offers to entrepreneurs and investors who decide to settle in our territory.
In short, buying a home in Catalonia, whether to resell, rent or start business operations, is a safe bet. But it is necessary to have specialized legal advice if the investor wants to maximize his profitability and enjoy the best legal shielding.
Real estate investment in Catalonia
At Forcam Abogados we have helped many foreign citizens to invest in Catalonia. Their motivations are diverse.
Many non-EU citizens opt for the Catalan territory due to its pleasant climate, its lively social and cultural life, its privileged surroundings and the facilities that the State offers them to settle in. And it is that in Spain it is possible to apply for an investment visa, which allows the investor and his family to obtain residence and work permits. In addition, it opens the doors to mobility and the provision of services throughout the European Union.
Catalonia also attracts the investment of many citizens of the European Union. Some of them decide to move to our territory to reside or retire. Others prefer to take advantage of its advantages as a commercial enclave to undertake large-scale economic activities or establish their foreign companies in Spain or change the workplace of their workforce
Profitability of real estate investment in Catalonia
Whatever the motivation for the investment, the Catalan real estate sector is presented as a safe bet. In fact, according to specialized media, real estate investment in Catalonia is already at levels prior to the pandemic. Thus, the market has demonstrated its capacity for recovery and growth, the trend of which is foreseeably upward.
Among the most interesting investments in the Autonomous Community are offices, residential rental and student residences. These three sectors have absorbed 95% of the investment during the first quarter of the current year. And it is that real estate investment in offices in Catalonia has presented a return of 11%, followed by 9.4% of premises and 8.2% of residential rent.
We are facing a relatively safe investment. While it is true that there are risks in real estate investment, such as regulation of the sector or unemployment, it is also true that these are lower than those of other sectors, such as startups.
In addition, we must remember that proper planning can help mitigate these risks. Hence, it is so important to have tax, economic and legal advice to make the investment profitable.
In this sense, it is essential to consider some basic criteria when choosing the office in which to place your trust. At Forcam Abogados we have been providing legal advice to English, French and Germans for years when buying homes in Catalonia, and that is why we want to share some advice.
What should I take into account when seeking legal advice to buy homes in Catalonia?
Of course, any firm that intends to offer legal assistance to foreign investors must have outstanding profiles in the tax, economic and legal areas. A multidisciplinary team is the best guarantee that the firm will be able to adapt to the investor's needs and even anticipate them. That is why it is not strange that there are professional firms that combine these profiles.
However, when choosing the best service, it is necessary to take into account some factors that are not strictly technical. Obviously, quality and excellence in service provision and knowledge of the investment ecosystem and the real estate sector are essential. But so is the experience in dealing with international clients and the firm's communication skills.
The location of the law firm
Although in a digital age it may seem like a secondary issue, the location of the office is important when choosing advisers. In fact, the ideal thing is that they have headquarters in different places. This will facilitate eventual visits, as well as carrying out procedures and face-to-face operations.
For example, if the investor is interested in real estate in the capital, it would be recommended that his advisers or collaborators have a presence in Barcelona.
Languages: a key issue
One of the most important issues in advising foreign clients is that the firm has staff who share their language. For example, at Forcam Abogados we have professionals who can communicate fluently in English, French and German.
This allows us to perfectly understand our client, avoiding misunderstandings and streamlining communication, without the need to depend on translators who may not be experts in the subject on which we are advising.
Practice areas of the law firm
Another key question when choosing legal advisers for an investment is knowing the practice areas they cover. Obviously, if you choose to buy a home, it is necessary for the firm to specialize in Real Estate and Real Estate Law. But the investment may require other types of specific knowledge. For example, if you want to start a business project, it will be essential to have lawyers who specialize in employment advice to companies, in the same way that if you want to personally take advantage of the investment, it would be advisable for the firm to have experience in immigration matters.
In addition, in this type of operations issues of Civil, Commercial, Corporate and Tax Law also come into play, at least. So, it is convenient for the firm to have specialists in each of these sectors.
Experience in dealing with international clients
Finally, we want to highlight the importance of experience in dealing with international clients. On occasions we have come across clients who have not managed to establish a relationship of trust with other firms because they do not share the same investment culture or do not understand each other properly.
And it is that knowing the international client is not limited to communicating fluently in their language. Each country, each culture and each investor have its own profile, customs and concerns. We believe that a good service requires an understanding of the way each client operates in order to offer advice tailored to their profile.
In addition, there are a series of common problems for all international clients. And it is essential to have passed them successfully over and over again to be able to advise with the confidence of providing adequate and efficient solutions.
In summary, our experience offering legal advice for English, French and Germans when buying homes in Catalonia leads us to recommend that the investor value the firm's experience from both a technical and a communicative point of view. It is essential that you feel comfortable with your advisers and can place your trust in them. And that is why at Forcam Abogados we offer a service based on excellence and understanding the needs of our clients.
Contact us, and our lawyers specializing in Real Estate Law will study your specific case. We Have:
Law firm in Barcelona
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