At Vicox Legal, we specialize in helping clients purchase real estate using cryptocurrencies. We operate in Spain, Portugal, Dubai, Miami, and Oman, with expertise in major cities such as Malaga, Marbella, Alicante, Madrid, Barcelona, Valencia, Lisbon, Dubai, Miami, and Muscat. Below, we answer the most common questions about this innovative process.
Is it legal to buy property with cryptocurrency?
Yes, purchasing real estate with cryptocurrency is legal in many countries, including Spain, Portugal, the UAE (Dubai), the USA (Miami), and Oman. However, all transactions must comply with anti-money laundering (AML) regulations and legal frameworks in each jurisdiction to ensure a secure process.
What cryptocurrencies can be used to buy real estate?
Vicox Legal supports a variety of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), USDC, USDT, and others. The specific cryptocurrency used depends on client preferences and transaction conditions.
What is the process of buying real estate with cryptocurrency?
The process includes several key steps:
- Onboarding: Clients complete a registration process, providing necessary details such as identification (NIF/NIE), legal residence, and wallet addresses.
- Private Contract: A contract is signed to outline the services provided by Vicox Legal throughout the transaction.
- Property Reservation: After selecting a property, a deposit contract is signed to remove it from the market.
- Due Diligence: We conduct a thorough legal and financial background check on the property, including title verification, municipal licenses, tax compliance, and potential liabilities.
- Cryptocurrency Exchange Service: We facilitate seamless crypto-to-fiat conversions (or vice versa) to ensure smooth transactions without requiring clients to operate on exchanges.
- Notarial Deed: We coordinate the official signing before a notary, manage tax payments, and ensure the property is registered in your name.
- Post-Deed Services: We assist with annual tax payments for non-residents, ensuring ongoing legal compliance.
What is the AML Compliance Report, and why is it necessary?
The AML Compliance Report verifies the legitimacy of funds and ensures compliance with global anti-money laundering regulations. It checks for:
- Politically exposed persons (PEPs)
- Sanctioned individuals or entities
- The legitimacy of the cryptocurrency wallet history
The AML report is available for €1,500 + VAT.
How long does the onboarding process take?
Typically, onboarding is completed within 48 hours after submitting the required documentation.
Is the process secure?
Absolutely. Vicox Legal adheres to international privacy laws and AML directives, ensuring a safe and legally compliant transaction.
What are the benefits of buying real estate with cryptocurrency?
- Faster transactions: Avoid lengthy banking procedures.
- Lower fees: Save on traditional banking and transfer costs.
- Flexibility: Use different cryptocurrencies for payments.
- Enhanced privacy & security: Transactions are backed by blockchain technology.
Where does Vicox Legal operate?
We provide services across multiple regions, including Spain, Portugal, Dubai, Miami, and Oman, with key locations such as Malaga, Marbella, Alicante, Madrid, Barcelona, Valencia, Lisbon, Dubai, Miami, and Muscat.
How can I get started?
If you’re considering buying property with cryptocurrency, contact Vicox Legal today for expert legal guidance. Book a consultation now and take the first step toward your crypto real estate investment!
