Buy property in Mallorca — the US buyer's guide

United, American and Delta operate seasonal direct routes from New York (JFK, Newark) to Palma (~8h). Year-round, connect via Madrid (Iberia, Air Europa), London (BA, Iberia) or Frankfurt (Lufthansa). From the US West Coast, count on one stop and ~14–16h total travel.

Purchase costs for US buyers: ITP (transfer tax) 8–13% on resale homes, or 10% VAT + 1.5% AJD on new-builds. Notary and registry: 1–2%. Legal fees: ~1%. Annual: IBI (property tax) 0.4–1.1% of cadastral value, plus non-resident income tax if renting. Under the US–Spain tax treaty, Spanish tax paid is creditable on your US 1040 via Form 1116. US persons still file FBAR (FinCEN 114) if aggregate Spanish accounts exceed $10,000. We recommend a US CPA familiar with expat filings alongside our Spanish lawyer.

1) Get your NIE via the Spanish Consulates in New York, Miami, Los Angeles, Chicago, Houston, San Francisco, Boston or Washington DC — or by power of attorney through our lawyers. 2) Open a Spanish bank account (Sabadell, CaixaBank and BBVA onboard US clients despite FATCA). 3) Sign the Arras contract (10% deposit). 4) Complete at the notary (typically 6–10 weeks). We coordinate lawyer, notary, US-aware tax advisor and mortgage broker in English throughout.