Investment approach
Buying with a power of attorney: what's still best done in person
A power of attorney covers most of the purchase, but in practice a few steps are simpler or quicker to do in person. We go through which ones.
The power of attorney itself has to be signed in person, before a notary or at a consulate. After that, a notarial power of attorney lets a representative sign the arras and the escritura, deal with registration and pay the taxes. We explained how this works in our article on the poder notarial. A few steps are different, though: being there in person is either mandatory or noticeably speeds things up.
Where being there in person matters
- Granting the power of attorney. It is signed in person before a notary or at a consulate. Since 2023 (Ley 11/2023), a Spanish notary can authorise some types of power of attorney by videoconference, but that needs Spanish electronic identification (Cl@ve, DNIe or a qualified electronic certificate), which most foreign investors don't have, and it does not cover general or preventive powers, so attending in person is still required in practice.
- Getting an NIE. A representative in Spain can obtain it for you, but only under a power of attorney. The consular route requires you to attend in person.
- Opening a bank account. Some Spanish banks insist on identifying a non-resident client in person at a branch, especially the first time.
What can be delegated entirely
Signing the escritura, filing tax returns, registering the title, paying the gestoría, dealing with the owners' association, overseeing the renovation. All of this is normally handled by the representative or by whoever manages the project, without the investor having to be involved.
How it works with us
In DNPI Capital projects an investor can get through the whole purchase with a single trip to Barcelona: to grant the power of attorney and, if they wish, to see the property. The trip can be avoided altogether: the power of attorney can be granted at a Spanish consulate, or before a local notary in the investor's own country with an apostille and, if needed, a sworn translation. The investor follows the renovation through our reports; we explain how they are put together in How to review a renovation progress report.
Questions and answers
Do I have to see the property in person before buying?
Legally, no. If you cannot come for a viewing, it is worth commissioning an independent technical report and a detailed video of the property.
Can the arras be signed remotely without a power of attorney?
Sometimes, yes. The arras is a private contract, so it can be signed with an electronic signature or by exchanging signed copies. That does not work for the escritura before a notary: it needs either you in person or a representative acting under a power of attorney.