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Purchase cost of a property on the Canary Islands

  • If the seller is NON-RESIDENT on the Canary Islands, he has to deduct 3 % of the price, which is determined in the document, in order to pay this amount to the tax office. Otherwise the tax office will claim the seller, because he hasn’t exercised one’s duty, to deduct the mentioned amount.

Taxes and charges for second hand properties 

  • 6, 5 % of the amount, which is determined in the deeds.
  • NOTARY: 800 –2.000 €
  • LAND REGISTRY: 800 – 1.000 €

  • LAWYER (depends on the amount, which is determined in the deeds). Any other expenses will be excluded and have to be paid separately.

Taxes and charges for a new property

  • 1,00 % of the amount, which is determined in the deeds.
  • If the property is new (no second-hand) the buyer has to pay the I.G.I.C. (7 %).
  • NOTARY: 800 – 2.000 €
  • LAND REGISTRY: 800 – 1.000 €
  • LAWYER (depends on the amount, which is determined in the deeds). Any other expenses will be excluded and have to be paid separately.

At last our activity consists of finding out if the property is unproblematic and if it is free from encumbrances, preparing the sales agreement in the notary, paying all the taxes and to register the buyers name in the Land Registry. Finally the customer receives the documents of his new property.