In Spain the Real Estate have been crush by the crisis, but apart from being a big problem for many investors it´s an open door for new opportunities. The property prices have gone down significantly, and for those with credit or money in the pockets its time to make a move.
In the overall Real Estate Market, the decline have reach an average of 20% in real terms, and even more in the case of Properties in the side coast were values have downgraded around 40%.
When starting a business in Spain, you will face many Spanish words at first difficult to understand.
This article will enlighten you on these terms, explaining, for each of them, the Englishequivalent.
NIE (Número de Identificación de Extranjeros) : The NIE is the identification number of a foreigner in Spain. It is essential to Spain in order to create your company, open a bank account and almost all the paperwork. You can get this NIE, whether European or not. This edition includes 8 or 9 characters and starts with an “X” or a “Y”.
In Spain, it is now very easy to start a business. In fact, the government in recent years, have simplified the process. If you use an accounting firm, only 8 days are necessary for the creation of your business.
1. Obtaining the NIE
First, you must obtain a NIE, which is the tax identification number in Spain. The NIE will allow you to open a bank account, work and create a business. This number is obtained very quickly (the day of application).