We give you a short summary of what should be done :

1. Fill form 600, and pay the tax to the “Agencia Tributaria Canaria”
The tax is 6,5% of the contract value. You can pay it in cash or with a Spanish bank’s check.
Be aware that if the tax people consider that the price was too low, they would charge you later a tax supplement, with delay interests…
They will take 1 “copia simple” for their records.

2. Go to the town hall to give them a copy (make it yourself)
They will book that you are now the legitimate owner.
Later we advice you to make a domiciliation for the following payments :
for the rubbish,
for the real estate tax (I.B.I.)

3. Very important : go to the “Registro de la Propiedad” as soon as possible
You will have to present the original of the escritura, with a copy of yourself…or a “copia simple”.
It will last two or three weeks, you will be noticed that the papers are ready. After paying the fees, the original “escritura” will be given back to you, with an aerial view.
Thanks to this, no other charge could be added when the former owner would have an outstanding debt (“embargo”).

4. Contact the Administrator, if any, in charge of the Community of owners.

5. Contact the water company, in order to change the owner’s name and bank account number; the same with the electricity company.

6. Do not forget that a tax form should then be sent (and paid) every year; if you are not a resident, you should choose your “domicilio fiscal” (official address for tax purposes) at your “accountant’s, agent’s or solicitor’s office in Tenerife. The tax form 030 of Hacienda is available for this. You will receive your “etiquetas fiscales” with a bar code.

Please relax! Now everything (but remember it is just a summary, and that things are more difficult when buying a brand new property).

Expertos de Tenerife S.L. c.c. San Eugenio, Local 99, 38660 San Eugenio, Adeje, Tenerife