What is the very first step in buying property in any EU country?

Get the local tax identification number. Every EU country requires one before you can sign a deed, open a bank account, or pay tax. The names differ, codice fiscale in Italy, NIE in Spain, AFM in Greece, OIB in Croatia, NIF in Portugal, EGN/Bulstat in Bulgaria, CNP in Romania, but the function is identical.

Do I always need a local lawyer?

In most EU countries the notary is a neutral public officer, not your advocate. A separate lawyer protecting your interests is strongly recommended in every country and effectively essential in Italy, Spain, Greece, Croatia, and Bulgaria. Cost is typically 0.8-1.5% of the purchase price.

Can I sign all the documents remotely?

Most countries accept a power of attorney granted at a notary or consulate in your home country, allowing your lawyer to sign in your absence. Some countries (Italy in particular) still require a sworn translator at the deed if you do not speak the local language. Plan for at least one in-person trip in most cases.

How much money should I budget for transaction costs?

Across the EU, total transaction costs (transfer tax, notary, registration, lawyer, agent if applicable) run between 8% and 14% of the purchase price. Resale property in high-tax regions (Catalonia, Brussels, parts of Italy) can hit 12-15%. New-build with VAT often hits 13-14%.

What are AML and source-of-funds rules?

Anti-money-laundering legislation requires every EU buyer to document the legitimate origin of every euro used in the purchase. Salary, sale of another asset, dividend, inheritance, business profit, each tranche needs a paper trail. Cash payments above €10,000 are illegal across the EU.

Should I buy through a local company?

Sometimes. A local company can simplify multi-investor deals, ring-fence liability, optimise rental-income tax in some countries, and ease succession planning. It also adds annual accounting costs (€800-2,500/year) and complicates resale. Worth modelling for €500k+ commercial or multi-unit deals; usually not worth it for a single residential home.

How do I move the money?

Use a regulated FX broker or your bank for international transfers. Avoid informal channels, they break AML rules. Forward contracts can lock in your EUR rate during a multi-month transaction. Always wire from an account in your own name to the notary's escrow or to your lawyer's client account.

What is the most common mistake?

Using the seller's recommended lawyer or notary. The notary is neutral by law in most EU countries, but the lawyer the agent or seller suggests is not. Always engage a fully independent lawyer with no relationship to the other side of the deal.

Buying property in the EU as a foreigner, the universal process

Step-by-step guide to buying property in EU countries as a foreigner, tax IDs, lawyers, AML, FX, deposits, and how to list for free on immio.

Buying property anywhere in the EU as a foreigner follows a remarkably consistent pattern beneath the country-specific paperwork. Every EU member state has the same core architecture: a tax identification number, a regulated bank account, an independent lawyer, due diligence on title and planning, a deposit-bound preliminary contract, and a notarial deed registered at the land registry. The variations are in the names, the percentages, and the local quirks, not in the structure. This guide walks through the universal process and flags the country-by-country variance you need to plan for.

The universal seven-step process

Get your local tax identification number.
Open a local bank account.
Engage an independent local lawyer.
Find a property and complete due diligence.
Sign the preliminary contract and pay the deposit.
Sign the final deed at the notary.
Register the deed and update utilities.

Every EU jurisdiction follows this sequence. Steps 4 and 5 are sometimes combined or split differently, and the names change from country to country, but the architecture is identical.

Step 1: Tax identification number

You cannot buy property in any EU country without a local tax ID. This is the single most-skipped first step among foreign buyers.

Country	Tax ID name	How to get it
Italy	Codice fiscale	Italian consulate or Agenzia delle Entrate, free, 1 day
Spain	NIE	Spanish consulate or Oficina de Extranjería, ~€10, 1-6 weeks
Greece	AFM	Local tax office (DOY), free, same day
Portugal	NIF	Tax office or via lawyer, free for EU / requires fiscal representative for non-EU
Croatia	OIB	Tax office, free, 1-2 days
Bulgaria	EGN (individual) / Bulstat (entity)	Police registry / Bulstat agency, free, 1-2 weeks
Romania	CNP	National Agency for Tax Administration, free, 1-3 days
France	Numéro fiscal	Tax office, free, 2-4 weeks
Germany	Steuer-ID	Issued automatically on registration, free, 1-3 weeks

In most cases you can have your lawyer obtain the tax ID via power of attorney, which is the smoothest path if you are not yet planning a visit. Allow extra time if you are non-EU, consular appointments in places like Madrid, Athens, and Lisbon can be backed up months in advance.

Step 2: Local bank account

Strictly, you can wire funds directly from abroad to the notary's escrow in many countries. In practice, opening a local non-resident bank account makes the entire process smoother:

Many notaries require cashier's cheques drawn on a local bank
Utility companies often refuse to set up accounts without a local IBAN
Annual property tax direct debits need a local account
Receiving rental income (if you let the property) requires a local account

Documentation is similar across the EU: passport, tax ID, address proof from your home country, tax-residence certificate, and an explanation of the source of funds. Some countries (Bulgaria, Romania, Croatia) are quicker; others (Italy, Spain, France) increasingly require physical presence and a face-to-face meeting.

Step 3: Independent lawyer

Every EU country has a notary system. The notary is a neutral public officer who signs the deed, collects taxes, and registers the transfer. The notary is not your advocate. The notary will not negotiate, will not argue with the seller's lawyer, and will not flag risks beyond the strict legal validity of the document.

For that reason, every foreign buyer should engage a separate, independent lawyer. The lawyer's job is:

Title search at the land registry
Planning compliance and unauthorised-build checks
Mortgage and lien search
Tax clearance (no unpaid property tax, community fees, utility bills)
Energy certificate verification
Power of attorney drafting
Negotiation of the preliminary and final contracts
Source-of-funds documentation

The single most common mistake foreign buyers make is using the lawyer recommended by the seller or the agent. That lawyer has a conflict of interest, however polite the recommendation. Find your own.

Typical lawyer fees: 0.8-1.5% of the purchase price plus VAT. Some lawyers charge a fixed fee (€2,000-5,000 for a residential transaction) which works out cheaper on higher-value deals.

Step 4: Due diligence

Once you have an accepted offer, the lawyer's due diligence begins. The deliverables are similar everywhere:

Title: clean ownership chain, no inheritance disputes
Encumbrances: mortgages, liens, easements, pre-emption rights
Planning: building permits match what is on the ground; no unauthorised extensions
Cadastral: registered area matches reality; no boundary disputes
Tax: no outstanding property tax, transfer tax, or local taxes
Community: no unpaid building or condominium fees
Utilities: no outstanding bills
Energy certificate: current and valid

Country-specific extras:

Italy: cadastral conformity check (a major cause of failed transactions since 2010)
Spain: licence of occupation (cédula de habitabilidad) and tourist-rental licence transferability
Greece: legalisation status under successive amnesty laws; forest-zone classification
Croatia: pre-emption rights of municipalities and neighbours; agricultural land restrictions
Bulgaria: restitution risks on properties nationalised pre-1989
Romania: church and forest restitution risks; agricultural land foreigner restrictions

Step 5: Preliminary contract and deposit

Once due diligence is clean, you sign a preliminary contract. Names vary:

Italy, compromesso or contratto preliminare
Spain, contrato de arras
Portugal, contrato-promessa
Greece, proagoraphysio symbolaio
France, compromis de vente
Croatia, predugovor
Romania, antecontract
Bulgaria, predvaritelen dogovor

Across the EU the structure is similar: a binding contract committing both parties to the deal, with a deposit (caparra confirmatoria, arras, signal) of 5-30% of the purchase price. Standard penalty clauses:

Buyer walks → deposit forfeit to seller
Seller walks → seller returns double the deposit (in most jurisdictions)

The preliminary contract sets the date for the final deed (usually 30-90 days later) and the conditions precedent (mortgage approval, planning permission, etc.). It is registered with the tax authority in some countries (Italy, France) which itself triggers a stamp tax.

Step 6: Final deed at the notary

The notarial deed completes the transaction. On signing day:

Both parties (or their attorneys-in-fact) attend the notary's office
Final balance is paid by cashier's cheque or bank wire to the notary's escrow
Notary reads the deed, parties sign in the notary's presence
Notary issues an authenticated copy
Keys are handed to the buyer

Most countries require a certified translator at the deed if the buyer does not speak the local language. Italy requires a sworn translator and two impartial witnesses if a translator is involved. Spain and Greece are more flexible.

Step 7: Registration and follow-up

The notary (or your lawyer in some countries) registers the deed at the land registry within 30-60 days. Until registered, you have full legal ownership but cannot easily sell or mortgage. Final tasks:

Update utility accounts (electricity, water, gas, internet) into your name
Update local property-tax records
Notify the homeowners' association or building administrator
Update insurance
Set up direct debits for ongoing taxes and bills

Country-by-country variance: quick reference

Country	Total cost as % of price	Lawyer required?	Time to close	Foreigner restrictions
Italy	10-15%	Strongly recommended	8-14 weeks	None for OECD
Spain	10-13%	Strongly recommended	6-10 weeks	None
Greece	9-12%	Required in practice	8-14 weeks	Border-zone restrictions
Portugal	8-11%	Recommended	6-10 weeks	None
Croatia	8-10%	Recommended	6-12 weeks	Reciprocity for non-EU
Bulgaria	4-7%	Strongly recommended	4-8 weeks	Land restrictions for non-EU
Romania	4-7%	Strongly recommended	4-8 weeks	Land restrictions for non-EU
Serbia	5-8%	Strongly recommended	6-10 weeks	Reciprocity
France	9-12%	Notary handles	8-12 weeks	None

For more detail by country, see our individual guides: Italy, Spain, Greece, Bulgaria, Romania.

Common mistakes

Skipping the independent lawyer. Easily the single most expensive mistake foreign buyers make. The agent's "in-house lawyer" is not your lawyer.
Wiring funds before due diligence is complete. Some agents will pressure for a "holding deposit" of €10-50k before any contract. Refuse, or wire only to the lawyer's client account against a written reservation contract.
Underestimating closing costs. A foreign buyer who budgets exactly €300,000 for a €300,000 property will not close.
Using the wrong company structure. Buying via an offshore holding company can disqualify you from Golden Visa programmes, trigger unfavourable tax treatment, and complicate resale.
Cash payments. Above €10,000 in cash is illegal across the EU. Even smaller amounts must be documented in the deed.
Ignoring AML. Source-of-funds documentation is checked at multiple points. Inadequate documentation can void the deal at the notary's stage even after deposit is paid.
Verbal agreements. Anything that is not in the written contract does not exist. "The seller said the furniture stays" is worthless once the deed is signed without that clause.

Money transfer and FX considerations

For non-EUR buyers (UK, US, Swiss, GCC, Asian) the FX cost can dwarf the difference between a cheap and expensive lawyer.

High-street bank wires typically cost 2-4% in spread plus fixed fees on a €300,000 transfer. That is €6-12k.
Regulated FX brokers (Wise, Currencies Direct, Caxton, OFX, Moneycorp) cost 0.3-0.8% on the same volume, saving €5-10k.
Forward contracts lock in today's rate for delivery in 30-180 days. Useful when the deposit is paid now and the balance is due in 3 months.
Multi-currency accounts (Wise, Revolut Business) hold EUR before you wire to the notary, separating the FX trade from the property trade.

Always wire in your own name from your own account. Sending funds via a relative, friend, or company without documented disclosure breaks AML rules and can invalidate the purchase.

AML and source-of-funds requirements

The EU's revised Anti-Money Laundering Directive, fully in force from 2025-2026, requires every property transaction to document:

The identity of the ultimate beneficial owner (no anonymous holding companies)
Politically Exposed Person screening of buyer, family, and counterparties
Documented source of every tranche of funds (six months of statements minimum, with supporting docs for sales, bonuses, dividends, etc.)
Sanctions screening throughout the transaction
Suspicious-transaction reporting by lawyers, notaries, and banks

Practical implications for the foreign buyer: gather your documents at the start, not the end. A clear paper trail (employment contract, six months of payslips, tax return, sale contract on whatever asset funded the deposit) makes the deal flow. Patchy documentation creates delays and sometimes deal-killers at notary stage.

When to use a local company

Buying via a local company structure is sometimes worth it. The main triggers:

Multi-investor deals. A local SRL/SL/EOOD/IKE makes shareholding clean and transferable.
Multi-unit deals. Buying 5+ units for short-term rental works better through a company.
Commercial property. Almost always held via a company.
Liability ring-fencing. Especially relevant in countries with strong tenant-protection laws.
Succession planning. A holding company with shares is easier to gift or inherit than direct title.

Tradeoffs:

Annual accounting and audit costs of €800-2,500
Sometimes higher transfer tax or annual property tax for company-held properties
Lost personal-residence reliefs (capital-gains exemption on primary home)
Lost Golden Visa eligibility in some programmes (Greek programme requires personal name)

For a single residential home, the company route rarely pays. For €500k+ commercial or multi-unit deals, model both options.

Why list with immio

Whether you are about to buy in Italy, Spain, Greece, Bulgaria, Romania, or anywhere else in Europe, the inverse question matters too, when you eventually sell, who will see the listing? Domestic portals reach domestic buyers. International buyers move on cross-border platforms in their own languages.

immio is a pan-European marketplace built specifically for cross-border real-estate discovery, with multilingual listings, transparent pricing, and a clean search experience. Whether your property is in Athens, Sofia, Bucharest, Rome, or Madrid, immio reaches the same international audience that drove your purchase decision.

Selling a property in Europe? You can list it on immio for free, one active listing at €0, no credit card.

Frequently asked questions

What is the very first step in buying property in any EU country?: Get the local tax identification number. Every EU country requires one before you can sign a deed, open a bank account, or pay tax. The names differ, codice fiscale in Italy, NIE in Spain, AFM in Greece, OIB in Croatia, NIF in Portugal, EGN/Bulstat in Bulgaria, CNP in Romania, but the function is identical.
Do I always need a local lawyer?: In most EU countries the notary is a neutral public officer, not your advocate. A separate lawyer protecting your interests is strongly recommended in every country and effectively essential in Italy, Spain, Greece, Croatia, and Bulgaria. Cost is typically 0.8-1.5% of the purchase price.
Can I sign all the documents remotely?: Most countries accept a power of attorney granted at a notary or consulate in your home country, allowing your lawyer to sign in your absence. Some countries (Italy in particular) still require a sworn translator at the deed if you do not speak the local language. Plan for at least one in-person trip in most cases.
How much money should I budget for transaction costs?: Across the EU, total transaction costs (transfer tax, notary, registration, lawyer, agent if applicable) run between 8% and 14% of the purchase price. Resale property in high-tax regions (Catalonia, Brussels, parts of Italy) can hit 12-15%. New-build with VAT often hits 13-14%.
What are AML and source-of-funds rules?: Anti-money-laundering legislation requires every EU buyer to document the legitimate origin of every euro used in the purchase. Salary, sale of another asset, dividend, inheritance, business profit, each tranche needs a paper trail. Cash payments above €10,000 are illegal across the EU.
Should I buy through a local company?: Sometimes. A local company can simplify multi-investor deals, ring-fence liability, optimise rental-income tax in some countries, and ease succession planning. It also adds annual accounting costs (€800-2,500/year) and complicates resale. Worth modelling for €500k+ commercial or multi-unit deals; usually not worth it for a single residential home.
How do I move the money?: Use a regulated FX broker or your bank for international transfers. Avoid informal channels, they break AML rules. Forward contracts can lock in your EUR rate during a multi-month transaction. Always wire from an account in your own name to the notary's escrow or to your lawyer's client account.
What is the most common mistake?: Using the seller's recommended lawyer or notary. The notary is neutral by law in most EU countries, but the lawyer the agent or seller suggests is not. Always engage a fully independent lawyer with no relationship to the other side of the deal.

List your property for free on immio — one active listing at €0, no credit card.