At least two years
Two years of continuous self-employment in the same or a related field is the usual minimum. A switch from employment to self-employment in the same industry is often viewed favourably — a complete fresh start less so.
Info & practice · Self-employed
Self-employed and still get a mortgage in Spain or Portugal? Yes — if you know what the bank actually looks at.
Spanish and Portuguese banks don't assess your turnover — they assess the taxed profit shown on your tax returns. Knowing that in advance means you can prepare your documents accordingly, instead of being surprised later by a lower offer than expected.
Information
The short answer. Self-employed non-residents get a mortgage in Spain or Portugal when three things line up: at least two years of continuous self-employment, two complete tax returns showing stable or growing profit, and a debt-to-income ratio — new instalment plus existing obligations — of roughly 30 to 35% of taxed net income at most. The bank works with profit after business expenses, not turnover: someone declaring €30,000 profit on €80,000 revenue is assessed on the €30,000.
What the bank actually sees — and why it often surprises people
Employees prove their income with payslips — one look, one figure. For the self-employed it's more complex, because the income on record depends on tax structuring. Someone who consistently deducts business expenses through their accountant lowers their tax bill — but also lowers the figure Spanish or Portuguese banks base their offer on. That regularly leads to a mismatch: "I earn well" meets "the returns show something else".
That's why a conversation with your accountant before the financing enquiry pays off — not to dress up the figures, but to know the baseline the bank will work from, and to plan the timing of any larger planned expense (e.g. after the financing approval, not before).
What you should bring
Two complete tax years
Income tax assessments for the last two years, plus a current profit-and-loss statement (BWA) or income-expenditure statement from your accountant, and 6 to 12 months of business account statements.
30 to 35% debt ceiling
New instalment plus existing obligations (including in Germany) should not exceed this share of taxed net income. Fluctuating years are usually averaged over the last two to three years.
When the tax returns fluctuate or the first year is missing
Not every case is straightforward. Common situations we see regularly: one unusually weak year due to an investment or a lost project, a change of legal form, or just one single complete tax year on file. In such cases there's no single "the bank" answer — individual lenders weigh self-employment risk differently, some ask for extra security or a lower LTV, others want a more detailed explanation from your accountant. This is exactly where choosing between several banks makes the difference between a decline and an offer — we discuss cases with the right lenders in advance, rather than sending a blind application.
Frequently asked questions
Is one year of self-employment enough for a mortgage?
Rarely on its own. Most banks require two complete tax years. With just one year, approvals are possible but rarer, usually with a lower LTV or extra security.
Does turnover or profit count?
The taxed profit shown on your income tax returns — not turnover. Business expenses that lower your tax bill also lower the figure the bank assesses.
Can I optimise my figures before applying?
Your tax return isn't a negotiating tool — but a conversation with your accountant before the enquiry helps you know your baseline and time any larger planned expenses accordingly.
Am I treated worse than an employee?
The assessment is more thorough, not fundamentally worse. Stable, traceable figures over two to three years usually offset the lack of a permanent employment contract.
Does this apply the same way in Portugal as in Spain?
In essence yes — both countries base their assessment on taxed income and a similar debt ratio. Details on deadlines and documents differ; we clarify this for your specific target country.
We review your documents in advance — before a bank says no.
Two tax assessments, a current profit-and-loss statement, account statements — that's all the first assessment needs.
Discuss your caseRelated: Requirements for non-residents · Self-employed case reports · all info pages