Reference

Real Estate Glossary

A comprehensive guide to real estate, mortgage, legal, and compliance terminology for buying property in Spain and Dubai. Understand every term before you sign.

Categories:Mortgage & FinanceSpain LegalDubai LegalGeneral Real EstateCompliance

A7 terms

AangifteDutch Tax: The annual Dutch tax return filed with the Belastingdienst. Foreign property must be declared in Box 3. Spanish property also requires IRNR filing in Spain.
AJDSpain: Actos Juridicos Documentados. Spanish stamp duty on notarised documents, applied to new-build purchases alongside IVA at 0.5% to 1.5% by region.
AJD (Actos Juridicos Documentados)Spain Legal: Spanish stamp duty (Documented Legal Acts tax) levied on notarized documents that are registered in a public registry. Applied to new-build purchases alongside IVA, with rates varying from 0.5% to 1.5% by autonomous community: for example, Andalusia charges 1.2%, Madrid 0.75%, and Valencia 1.5% (as of Q2 2026). AJD also applies to mortgage deeds, though since the Supreme Court ruling and Royal Decree-Law 17/2018, this cost is borne by the lending bank, not the buyer. AJD is filed and paid at the regional tax office within 30 business days of the notarial deed using form 600. The tax base for AJD is the value declared in the deed. AJD does not apply to resale purchases, which are subject to ITP instead. (sede.agenciatributaria.gob.es)
AMLCompliance: Anti-Money Laundering. A framework of laws and procedures to prevent disguising illegally obtained funds as legitimate income through financial transactions.
AML (Anti-Money Laundering)Compliance: A framework of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income through financial transactions, including real estate purchases. In the Netherlands, AML is regulated by the Wwft, supervised by the BFT (Bureau Financieel Toezicht) for real estate intermediaries, and enforced by the Public Prosecution Service. AML obligations for Zaminor include client identification (CDD/KYC), ongoing transaction monitoring, reporting of unusual transactions to FIU-Nederland, employee training, and maintaining a documented compliance programme. Real estate is considered a high-risk sector for money laundering because of the large transaction values and cross-border nature. The EU Anti-Money Laundering Authority (AMLA) will begin direct supervision by 2028. In Spain, notaries act as the first AML gatekeeper in property transactions. In Dubai, the CBUAE enforces AML for financial institutions. (fiu-nederland.nl)
AmortizationFinancial: Gradual repayment of a mortgage through regular instalments covering both principal and interest. Early amortization in Spain may incur a 0% to 0.5% penalty.
ArrasSpain: A preliminary deposit contract in Spain. If the buyer withdraws, they lose the deposit (typically 10%); if the seller withdraws, they must return double the deposit.

B3 terms

BelastingverdragDutch Tax: A bilateral tax treaty between two countries. The Netherlands has treaties with Spain and the UAE regulating which country taxes specific income and assets.
Box 3Dutch Tax: The Dutch wealth tax category taxing savings and investments, including foreign property, based on a deemed return (forfaitair rendement) rather than actual income.
BrokerGeneral: A licensed real estate professional assisting in property transactions. In Dubai, all brokers must hold a RERA broker card. In Spain, requirements vary by region.

C8 terms

Capital gains taxFinancial: Tax on profit from selling property. Non-residents in Spain pay 19% on net profit. A 3% retention is withheld by the buyer at completion. Dubai levies no capital gains tax.
CatastroSpain: The Spanish cadastral registry recording the physical characteristics and cadastral value of all properties. Used to calculate IBI, plusvalia, and IRNR.
CDDCompliance: Customer Due Diligence. The process of verifying client identity, understanding the business relationship, and assessing money laundering risk under Wwft.
CDD (Customer Due Diligence)Compliance: The process of verifying a client's identity, understanding the nature of the business relationship, and assessing money laundering and terrorism financing risk. Under the Wwft, CDD includes four core elements: identity verification (using a valid identity document), address verification, source of funds check (determining where the money comes from), and PEP screening (checking whether the client is a politically exposed person). Three levels of CDD exist: simplified CDD for low-risk clients, standard CDD for normal-risk clients, and enhanced CDD (verscherpt clientenonderzoek) for higher-risk clients such as PEPs, clients from high-risk jurisdictions, or complex ownership structures. CDD must be completed before the start of the business relationship and updated periodically. At Zaminor, CDD is integrated into the onboarding process through a six-step KYC flow. (wetten.overheid.nl)
Cedula de habitabilidadSpain: A certificate of habitation confirming a property meets minimum living standards. Required in several Spanish regions before utilities can be connected or the property can be rented.
ComunidadSpain: Comunidad de propietarios. The community of property owners in a Spanish development, similar to a homeowners association, managing shared areas and maintenance.
Comunidad (comunidad de propietarios)Spain Legal: The community of property owners in a Spanish residential development, similar to a homeowners association (VvE in the Netherlands). Governed by the Ley de Propiedad Horizontal (Horizontal Property Act), the comunidad manages shared areas including pools, gardens, lifts, facades, and building maintenance. Members pay monthly or quarterly fees (gastos de comunidad), typically ranging from 50 to 300 euros per month depending on the amenities and size of the development. An annual general meeting (junta de propietarios) is held to vote on budgets, maintenance works, and community rules. Before purchasing, buyers should request the last three years of community meeting minutes and confirm there are no outstanding debts or special assessments (derramas) pending. Unpaid community debts can transfer to the new owner for up to the current and three preceding years. (boe.es)
ConveyancingGeneral: The legal process of transferring property ownership. In Spain: nota simple, arras, escritura, registro. In Dubai: NOC, SPA, DLD transfer, title deed.

D7 terms

DBRFinancial: Debt Burden Ratio. A UAE metric capped at 50% by the Central Bank of the UAE. Includes all debts toward the 50% limit.
DBR (Debt Burden Ratio)Mortgage & Finance: A metric used by UAE banks, capped at 50% by the Central Bank of the UAE (as of Q2 2026). It measures total monthly debt obligations as a percentage of gross monthly income. All debts including credit cards, personal loans, car finance, and the proposed mortgage count toward the 50% limit. The CBUAE regulation applies to both residents and non-residents seeking mortgage finance. For salaried borrowers, income is verified through salary certificates and bank statements; for self-employed applicants, audited financials for the last two years are typically required. Exceeding the 50% cap means automatic rejection regardless of other financial strengths. Reducing existing credit card limits before applying can lower your DBR. (centralbank.ae)
DLDDubai: Dubai Land Department. The government authority responsible for property registration in Dubai. Charges a 4% registration fee on property transactions.
DLD (Dubai Land Department)Dubai Legal: The government authority responsible for regulating and registering all real estate transactions in Dubai, established in 1960. The DLD charges a 4% transfer fee on all property purchases (as of Q2 2026), calculated on the sale price or the DLD valuation, whichever is higher. By market convention, the fee is typically split 2% buyer and 2% seller, though off-plan purchases from developers often pass the full 4% to the buyer. An additional AED 580 admin fee applies for apartments and AED 430 for land. The registration process is conducted through the DLD's REST (Real Estate Self Transaction) smart app or at DLD trustee offices. Transfer typically completes within one business day once all documents are submitted. The DLD issues the title deed (certificate of ownership), maintains the official property register, and operates the Oqood system for off-plan registration. RERA, the DLD's regulatory arm, oversees broker licensing, escrow accounts, and dispute resolution. Buyers must present their passport, the signed MOU or SPA, the NOC from the developer, and a manager's cheque for the transfer fee. (dubailand.gov.ae)
DTIFinancial: Debt-to-Income ratio. Total monthly debt payments divided by gross monthly income. Used by lenders to assess repayment capacity.
DTI (Debt-to-Income)Mortgage & Finance: A ratio comparing your total monthly debt payments to your gross monthly income. Lenders use DTI to assess your ability to manage monthly repayments. A lower DTI indicates less financial strain and increases your chances of mortgage approval. In Spain, most banks require a DTI below 35% for non-residents applying for a mortgage (as of Q2 2026). The calculation includes all existing loans, credit card minimum payments, alimony, and the proposed mortgage instalment. In Dubai, the equivalent metric is the DBR (Debt Burden Ratio), capped at 50% by regulation. Providing proof of additional income streams or reducing existing debt before applying can significantly improve your DTI position.
Due diligenceGeneral: Comprehensive investigation before purchasing property to verify legal status, ownership, debts, building permits, and regulatory compliance.

E10 terms

EIBORFinancial: Emirates Interbank Offered Rate. The benchmark for UAE bank lending. Dubai variable-rate mortgages are priced as EIBOR plus a fixed margin.
EIBOR (Emirates Interbank Offered Rate)Mortgage & Finance: The benchmark interest rate at which UAE banks lend to each other, published daily by the Central Bank of the UAE. Most variable-rate mortgages in Dubai are priced as EIBOR plus a fixed margin, typically 1.5% to 3% (as of Q2 2026). EIBOR is published for multiple tenors (overnight, 1 week, 1 month, 3 months, 6 months, and 12 months), with the 3-month EIBOR being the most common mortgage reference. Because the UAE dirham is pegged to the US dollar, EIBOR tends to follow the US Federal Reserve interest rate decisions closely. This means borrowers in Dubai should monitor US monetary policy as it directly affects their mortgage costs. EIBOR rates are published on the CBUAE website. (centralbank.ae)
EjariDubai: The mandatory online registration system for tenancy contracts in Dubai. Required for connecting utilities, obtaining visas, and legal enforceability of leases.
EmpadronamientoSpain: Registration on the local municipal census (padron) in Spain. Required for accessing public services, healthcare, schooling, and residency applications.
EquityFinancial: The difference between a property current market value and the outstanding mortgage balance. Increases through repayment and appreciation.
EscrituraSpain: The public deed of sale in Spain, signed before a notary. This document transfers legal ownership of the property and is registered at the Land Registry.
Escritura (escritura publica)Spain Legal: The public deed of sale signed before a Spanish notary (notario) that formalizes the property transfer. The escritura is a legally binding document that contains the full identity of buyer and seller, the property description matching the Registro de la Propiedad and Catastro records, the agreed purchase price, the payment method, and any existing charges or conditions. The notary verifies identities, confirms the property is free of undisclosed debts or liens, checks that municipal taxes (IBI, plusvalia) are current, reads the deed aloud, and witnesses the signing. Notary costs for the escritura typically range from 600 to 1,500 euros depending on the property value (as of Q2 2026). After signing, the deed must be registered at the Land Registry (Registro de la Propiedad) to transfer official ownership, which costs an additional 400 to 700 euros approximately. The buyer should verify before signing that the property description, surface area, and boundaries match the nota simple. A gestor or lawyer typically handles the post-signing registration and tax filings. (notariado.org)
EscrowDubai: A neutral third-party account holding buyer funds until transaction conditions are met. In Dubai, all off-plan payments must go into RERA-regulated escrow accounts.
EuriborFinancial: Euro Interbank Offered Rate. The benchmark for euro-denominated lending. Spanish variable-rate mortgages track the 12-month Euribor.
Euribor (Euro Interbank Offered Rate)Mortgage & Finance: The benchmark interest rate for euro-denominated interbank lending in the EU, administered by the European Money Markets Institute (EMMI). Spanish variable-rate mortgages are typically Euribor plus a fixed margin of 0.5% to 1.5% (as of Q2 2026). The 12-month Euribor is the most common reference for Spanish mortgages and is reviewed annually or semi-annually depending on the contract. Euribor is influenced by the European Central Bank (ECB) key interest rate decisions. When the ECB raises rates, Euribor typically follows within weeks, directly increasing variable mortgage payments. The rate is published daily on the EMMI website and the official monthly average is used for mortgage recalculations. (emmi-benchmarks.eu)

F3 terms

Fixed rate mortgageFinancial: A mortgage with constant interest for the full term or an initial period, providing payment certainty regardless of market fluctuations.
Forfaitair rendementDutch Tax: The fictional return on assets assumed by the Dutch tax authority for Box 3 taxation. Rates are adjusted annually based on market data.
FreeholdDubai: Full property ownership rights for foreign buyers in designated Dubai areas. Owners can sell, lease, or occupy without time restrictions.

G2 terms

GestorSpain: A licensed Spanish administrative agent handling bureaucratic procedures such as NIE applications, tax filings, and permits on behalf of clients.
Golden VisaDubai: A residency permit granted to foreign investors who meet certain investment thresholds. In Dubai, a 10-year visa is available for property investments of AED 2 million or more.

H2 terms

HandoverDubai: The moment a developer transfers possession of a completed off-plan property to the buyer, triggering the final payment and title deed issuance.
Heffingsvrij vermogenDutch Tax: The tax-free allowance in Box 3, approximately EUR 57,000 per person for 2026. Only net assets above this threshold are taxed.

I6 terms

IBISpain: Impuesto sobre Bienes Inmuebles. Annual Spanish property tax levied by the municipality, calculated on the cadastral value, typically 0.4% to 1.1%.
IRNRSpain: Impuesto sobre la Renta de No Residentes. Spanish non-resident income tax on property. For non-rented properties, based on imputed income from the cadastral value.
ITPSpain: Impuesto de Transmisiones Patrimoniales. Transfer tax paid on resale property purchases in Spain. Rates vary by autonomous community, typically 6-10% of the purchase price.
ITP (Impuesto de Transmisiones Patrimoniales)Spain Legal: The property transfer tax in Spain applied to resale (second-hand) property purchases. The rate varies by autonomous community: 7% in Andalusia, 10% in Catalonia and Valencia, 6% in Madrid, 8% in Murcia, and 6% to 13% on a progressive scale in the Balearic Islands (as of Q2 2026). Some regions apply a flat rate while others use progressive brackets based on the purchase price. Since 2022, the tax base is the higher of the declared purchase price or the valor de referencia (reference value) published annually by the Direccion General del Catastro. If the declared price is below the reference value, the tax authority may issue a complementary assessment. ITP must be paid within 30 business days of the notarial deed at the regional tax office (Oficina Liquidadora) by filing form 600. Late payment incurs surcharges of 5% to 20% plus interest. ITP does not apply to new-build purchases, which are subject to IVA and AJD instead. (sede.agenciatributaria.gob.es)
IVASpain: Impuesto sobre el Valor Anadido. Spanish VAT at 10% applies to new-build property purchases instead of ITP.
IVA (Impuesto sobre el Valor Anadido)Spain Legal: Spanish Value Added Tax, charged at 10% on new-build residential property purchases and 21% for commercial property (as of Q2 2026). IVA applies instead of ITP when buying directly from a developer or builder, and is paid to the developer at the time of the escritura signing. The developer then remits the IVA to the Agencia Tributaria. In the Canary Islands, the equivalent tax is IGIC (Impuesto General Indirecto Canario) at 7% instead of 10%. New-build purchases subject to IVA also incur AJD (stamp duty) at the regional rate, whereas resale purchases only pay ITP. The buyer should verify whether the seller is a company (subject to IVA) or a private individual (subject to ITP), as this determines which tax applies. (sede.agenciatributaria.gob.es)

K2 terms

KYCCompliance: Know Your Customer. A regulatory process to verify the identity of clients, required under anti-money laundering (AML) regulations and the Dutch Wwft.
KYC (Know Your Customer)Compliance: The process of verifying the identity and suitability of clients before and during a business relationship. KYC is a core component of anti-money laundering compliance under the Wwft and EU directives. At Zaminor, KYC involves six steps: personal information collection, ID verification (passport or national ID), address proof (utility bill or bank statement dated within 3 months), source of funds documentation (bank statements, employment contracts, or sale proceeds), PEP declaration, and a final compliance review by the compliance officer. KYC must be completed before Zaminor can proceed with any property mediation. Periodic rescreening is conducted every 12 months, or earlier if the client's risk profile changes. KYC records are retained for a minimum of 5 years after the end of the business relationship as required by the Wwft. (wetten.overheid.nl)

L3 terms

LeaseholdDubai: Property tenure for a specified period (30-99 years) in Dubai. Ownership reverts to the freeholder at the end of the term.
LTVFinancial: Loan-to-Value ratio. The percentage of a property value that a bank will lend. In Spain, non-residents can typically borrow up to 70% LTV. In Dubai, the maximum is 65% for non-residents.
LTV (Loan-to-Value)Mortgage & Finance: The ratio of a mortgage loan to the appraised value of the property, expressed as a percentage. A 70% LTV means the bank finances 70% and you provide a 30% deposit. Non-residents typically get a maximum of 70% LTV in Spain through banks such as Sabadell and CaixaBank, while residents can reach up to 80%. In Dubai, non-residents are capped at 65% LTV for first properties valued above AED 5 million and 75% for properties below that threshold (as of Q2 2026). Lenders in both markets require an independent property valuation (tasacion in Spain) before confirming the LTV. A lower LTV generally results in more favourable interest rates and faster approval. (centralbank.ae)

M1 term

MediationGeneral: Professional facilitation of a property transaction between buyer and seller. Zaminor connects Dutch buyers with verified brokers in Spain and Dubai.

N7 terms

NIESpain: Numero de Identificacion de Extranjero. A foreigner identification number required for property transactions in Spain. Essential for buying property, opening bank accounts, and signing contracts.
NIE (Numero de Identificacion de Extranjero)Spain Legal: A unique tax identification number assigned to foreigners in Spain. Required for any economic activity including buying property, opening a bank account, paying taxes, signing contracts, and connecting utilities. The NIE is applied for by submitting form EX-15 together with a valid passport, a passport-size photo, and proof of the reason for application (such as a property reservation contract). Applications can be submitted at a Spanish National Police station with a foreigners office (Oficina de Extranjeros) in Spain, or at a Spanish consulate in your home country. Processing time is typically 1 to 3 weeks in Spain and 4 to 8 weeks at consulates abroad (as of Q2 2026). The fee is approximately 12 euros, paid via form 790 codigo 012 at a Spanish bank before the appointment. The NIE is issued for life and does not expire, though the supporting certificate may need renewal. Without an NIE, no property transaction can be completed in Spain. (sede.administracionespublicas.gob.es)
NIFSpain: Numero de Identificacion Fiscal. The Spanish tax identification number for individuals and legal entities. For foreigners, the NIE serves as the NIF.
NOCDubai: No Objection Certificate. A document from the developer confirming no outstanding charges, required before the DLD will process a property transfer.
NOC (No Objection Certificate)Dubai Legal: A document issued by the property developer confirming no outstanding service charges, maintenance fees, or other financial obligations, and no objections to the sale of the unit. Required before the Dubai Land Department will process a property transfer. The developer typically charges AED 500 to AED 5,000 (as of Q2 2026) for issuing the NOC, with processing taking 5 to 7 business days. Some major developers such as Emaar and DAMAC offer online NOC portals for faster processing. The NOC is valid for a limited period (usually 30 days), after which it must be reissued if the transfer has not completed. The buyer should ensure the seller has settled all outstanding amounts before the NOC is requested, as unpaid service charges will block issuance. The NOC fee is typically paid by the seller. (dubailand.gov.ae)
Nota simpleSpain: An official extract from the Spanish Land Registry summarising the legal status of a property, including ownership, charges, and encumbrances.
NotarioSpain: A Spanish public notary who authenticates the escritura and ensures the transaction is legally valid. Fees are regulated at approximately 0.5% to 1% of the purchase price.

O2 terms

Off-plan propertyGeneral: A property purchased from a developer before or during construction, often at a lower price. In Dubai, off-plan projects must be RERA-registered with funds in escrow.
OqoodDubai: The interim registration system for off-plan properties in Dubai. Registers the SPA with the DLD at a 4% fee, protecting the buyer until the title deed is issued.

P6 terms

PEPCompliance: Politically Exposed Person. An individual who holds or has held a prominent public function. Enhanced due diligence is required for PEPs under anti-money laundering regulations.
PEP (Politically Exposed Person)Compliance: An individual who holds or has held a prominent public function, such as a head of state, senior politician, judicial official, central bank board member, ambassador, or high-ranking military officer. PEPs include domestic PEPs, foreign PEPs, and persons entrusted with a prominent function by an international organisation. Their direct family members (spouse, children, parents) and close associates are also covered. PEPs are subject to enhanced due diligence (verscherpt clientenonderzoek) under the Wwft and EU Anti-Money Laundering Directives (AMLD4/5) due to higher corruption risk. Enhanced measures include identifying the source of wealth, obtaining senior management approval before the relationship begins, and conducting ongoing enhanced monitoring. PEP status does not expire immediately upon leaving office; a cooling-off period of at least 12 months applies. Zaminor requires a PEP declaration from all clients as part of the KYC onboarding process. (wetten.overheid.nl)
PlusvaliaSpain: A municipal tax in Spain on the increase in land value since the last transfer. Technically paid by the seller. A 2021 reform capped taxation to prevent levying when no real profit was made.
Poder notarialSpain: A notarised power of attorney in Spain allowing a designated person to act on your behalf in legal and property matters.
Power of attorneyGeneral: A legal document authorising a person to act on your behalf in a property transaction. In Spain: poder notarial. In Dubai: attested via UAE embassy or Dubai Courts.
Power of attorney (POA)General Real Estate: A legal document authorizing a person (typically a lawyer) to act on your behalf in a property transaction. Essential for buyers who cannot travel to Spain or Dubai for every signing or registration step. In Spain, a poder notarial must be executed before a Spanish notary or before a notary abroad and then apostilled under the Hague Convention. The poder can be general (covering all acts) or limited to specific transactions. In Dubai, a POA can be attested at a UAE embassy or consulate, or through the Dubai Courts Notary Public. The POA must be notarised, legalised, and translated into Arabic by a certified translator. A specific POA (limited to one transaction) is preferable to a general POA for security. POA costs range from 200 to 500 euros in Spain and AED 500 to AED 2,000 in Dubai (as of Q2 2026).

R5 terms

Ready propertyGeneral Real Estate: A completed property available for immediate handover and occupation, as opposed to off-plan. Ready properties can be physically inspected before purchase, offer immediate rental income potential, and have a more straightforward transaction process. Also referred to as secondary market or resale properties. In Dubai, ready property purchases require a 4% DLD transfer fee, NOC from the developer, and a title deed transfer at a DLD trustee office. In Spain, resale properties are subject to ITP (not IVA) and the transaction is completed through an escritura before a notary. Ready properties eliminate construction delay risk and provide certainty about the actual finish quality, layout, and neighbourhood. Mortgage financing for ready properties is typically more straightforward as the bank can conduct a physical valuation. (dubailand.gov.ae)
Registro de la PropiedadSpain: The Spanish Land Registry where property ownership is officially recorded. Registration provides legal protection and proof of ownership.
RERADubai: Real Estate Regulatory Authority. The regulatory arm of the DLD that licenses brokers and developers, regulates escrow accounts, and resolves disputes.
RERA (Real Estate Regulatory Authority)Dubai Legal: The regulatory arm of the Dubai Land Department that oversees the real estate sector, established under Law No. 16 of 2007. RERA licenses all brokers, developers, and property management companies operating in Dubai. It regulates escrow accounts for off-plan projects (ensuring developer funds are ring-fenced), sets annual rent increase guidelines through the RERA Rental Index Calculator, and resolves disputes between landlords and tenants through the Rental Dispute Settlement Centre (RDSC). All agents operating in Dubai must hold a valid RERA broker card, which requires passing the DREI (Dubai Real Estate Institute) certification exam. Buyers should verify their agent's license on the DLD website before engaging. RERA also publishes the Service Charge Index, which benchmarks acceptable service charge rates per community. Complaints against brokers or developers can be filed through the DLD app or website. (rera.gov.ae)
Residency permitGeneral: Official authorisation to reside in a foreign country. In Spain via Golden Visa (EUR 500,000+). In Dubai via investor visa (AED 750,000+ for 2 years or AED 2M+ for 10 years).

S6 terms

Service chargeDubai: Annual fee paid by property owners to building management for maintenance of shared facilities. Regulated by RERA, typically AED 10-30 per sqft per year in Dubai.
SnaggingDubai: The inspection process at handover to identify construction defects or quality issues in newly built properties before final acceptance.
SPADubai: Sales Purchase Agreement. The formal contract between buyer and developer for off-plan purchases in Dubai. Registered with the DLD via Oqood.
Stamp dutyFinancial: A tax on legal documents in property transactions. In Spain, AJD applies to new builds at 0.5-1.5% by region. Dubai has no stamp duty.
StrataDubai: A property subdivision in Dubai dividing a building into individually owned units and shared common areas, governed by Law No. 6 of 2019.
Stress testFinancial: A calculation ensuring borrowers can afford repayments if rates rise. Spanish banks apply a +2% stress buffer for non-resident applications.

T1 term

Transfer taxFinancial: A tax on the transfer of property ownership. In Spain this is the ITP (6-10% for resale). In Dubai, the DLD transfer fee is 4%.

U1 term

UsufructoSpain: A legal right in Spanish property law granting the use and enjoyment of a property owned by someone else, commonly used in inheritance planning.

V2 terms

Variable rate mortgageFinancial: A mortgage where interest fluctuates based on a benchmark (Euribor in Spain, EIBOR in Dubai) plus a fixed margin.
Voorkoming dubbele belastingDutch Tax: Double taxation relief. The Netherlands-Spain treaty assigns property taxation to Spain and grants relief in the Dutch Box 3 assessment.

W3 terms

Withholding taxFinancial: A tax deducted at source. In Spanish sales by non-residents, 3% of the price is withheld by the buyer and paid to the tax authority as an advance on capital gains tax.
WwftCompliance: Wet ter voorkoming van witwassen en financieren van terrorisme. Dutch Anti-Money Laundering law that requires financial service providers to verify customer identities and report suspicious transactions.
Wwft (Wet ter voorkoming van witwassen en financieren van terrorisme)Compliance: The Dutch Anti-Money Laundering and Counter-Terrorism Financing Act, implementing EU Directives 2015/849 (AMLD4) and 2018/843 (AMLD5) into Dutch law. Requires designated businesses (instellingen), including real estate mediators like Zaminor, to verify client identity (CDD), assess money laundering and terrorism financing risk, perform ongoing transaction monitoring, and report unusual transactions (ongebruikelijke transacties) to FIU-Nederland without informing the client (tipping-off prohibition). CDD records must be retained for 5 years after the end of the business relationship. Non-compliance can result in administrative fines from the BFT (Bureau Financieel Toezicht) or criminal prosecution. The Wwft also requires a systematic integrity risk assessment (SIRA) and a documented compliance policy. Real estate mediators fall under the Wwft when facilitating transactions involving property valued at 15,000 euros or more. (wetten.overheid.nl)

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