Rise in U.S. Buyers in Spain Brings New Compliance Challenges for Real Estate Professionals

The number of U.S. citizens buying property in Spain has been steadily increasing, with particular interest in Marbella, the Costa del Sol, and Ibiza. While this growth is good news for the property market, it comes with a set of unique compliance and regulatory risks that real estate agents, lawyers, and brokers in Spain cannot afford to ignore.

U.S. Buyers on the Rise

Recent market data shows that Americans are now among the fastest-growing groups of international buyers in Spain’s real estate hotspots. This trend is fueled by lifestyle appeal, favorable exchange rates, and increased remote working opportunities.

Compliance Risks Beyond Spanish Borders

When handling U.S. clients, Spanish professionals must be aware that compliance obligations are not limited to Spanish AML law (Ley 10/2010). U.S. regulations — including the USA PATRIOT Act, OFAC sanctions, and the Foreign Corrupt Practices Act (FCPA) — have extraterritorial reach.

If a U.S. buyer is involved in a transaction linked to corruption, organized crime, or sanctioned individuals, U.S. enforcement agencies may investigate — and Spanish professionals involved in the deal could be drawn into the process.

Common Compliance Blind Spots

1. Insufficient EDD on Sellers - While ownership documents are checked, full Enhanced Due Diligence (EDD)- on sellers is rarely performed. If the seller has a high-risk profile, the transaction could expose both the buyer and the professionals involved.

2. Cash in Transactions - Despite legal limits (€1,000 for professional transactions), partial cash payments still occur in some deals. With U.S. buyers, any cash element increases the risk of cross-border scrutiny.

3. Complex Ownership Structures - U.S. buyers may purchase via LLCs, trusts, or nominee arrangements. Without proper beneficial ownership and source of wealth checks, compliance gaps are inevitable.

Expert Insight from CostaAML

“With U.S. clients, you’re not just working within the Spanish legal framework,” says Andréas Hobbelin, founder of CostaAML. “You’re operating in a cross-border regulatory environment where U.S. enforcement agencies have real reach. Proper EDD on both buyer and seller is essential.”

Key Takeaway for Agents and Lawyers

As U.S. buyer activity grows, so does the need for robust, documented compliance processes. This means:

• Conducting EDD on both sides of the transaction

• Screening all parties for sanctions, PEP status, and adverse media

• Documenting source of funds and source of wealth thoroughly

• Avoiding any cash acceptance outside legal limits

Closing Line:The growth in U.S. buyers is a welcome opportunity for Spain’s real estate sector — but only for professionals prepared to meet the higher compliance expectations these transactions demand.

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