[BUYING AND SELLING REAL ESTATE IN SPAIN] 250
On September 2018, Law 10/2010 on the prevention of money laundering and the financing of terrorism was urgently modified to implement the 4th Anti-Money Laundering Directive, in order to comply with the ultimatum of the European Union. Also Order JUS/319/2018 of 21 March was issued to create the Spanish Transparency Register ( Registro de Titularidades Reales ). Additionally, although a new single Register of Real Property Ownership has been introduced by Royal Decree-Law 7/2021 of 27 April, it has not yet been implemented, as further regulation is necessary and is still pending to be passed. Legal entities are responsible for filing UBO information with the Transparency Register ( Registro de Titularidades Reales ) when filing their annual accounts. Breach of the obligation to identify the UBO under Law 10/2010 may constitute a serious or minor infringement, entailing sanctions.
Assistance to foreign investors in Spain
López-Ibor Abogados S.L.P. personally knows several estate agents and advisors and works closely with them. These agents and advisors are well-known top-tier real estate firms who now the market and may advise when and where great opportunities can be found. López-Ibor Abogados S.L.P. has also advised numerous clients throughout the entire real estate development process. López-Ibor Abogados S.L.P. has advised in a great number of successful real estate transactions in all legal aspects including the drafting of all kind of property transfer agreements, finance of the transaction, tax issues, administrative requirements, and registration of the transaction.
Alfonso López-Ibor Aliño alfonso.lopezibor@l-ia.com
Fernando Torremocha fernando.torremocha@l-ia.com
ILN Real Estate Group – Buying and Selling Real Estate Series
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