Spanish AML Compliance Made Practical
PropComply is built around Ley 10/2010 and European AML directives, providing a risk-based approach that satisfies regulators while remaining practical for day-to-day real estate operations.
Ley 10/2010: Your AML Obligations
Spanish Law 10/2010 (Ley 10/2010) establishes comprehensive AML requirements for real estate professionals. PropComply helps you meet these obligations efficiently and thoroughly.
The law requires obligated subjects — including real estate agents, lawyers, and notaries — to implement customer due diligence measures, maintain records, and report suspicious activities. Non-compliance carries significant penalties.
Who Is an Obligated Subject?
Under Spanish AML law, the following professionals involved in real estate transactions have direct compliance obligations:
- Real estate agents and brokers
- Lawyers providing legal services
- Notaries public
- Property developers and promoters
- Tax advisors
- Auditors and accountants
Beyond Checkbox Compliance
PropComply implements a genuine risk-based approach — not just paperwork. We help you identify, assess, and manage AML risks proportionate to each situation.
Risk Assessment
Systematic evaluation of customer risk based on identity, geography, transaction type, and source of funds. Clear risk scoring with documented rationale.
Enhanced Due Diligence
Additional measures for high-risk situations: PEP connections, high-risk jurisdictions, complex ownership structures, or unusual transaction patterns.
Ongoing Monitoring
Continuous review of business relationships, not just one-time checks. Updated screening and alerts for changes in risk profile.
PEP Screening
Identify politically exposed persons across global databases, with clear guidance on enhanced due diligence requirements.
Sanctions Checks
Real-time screening against EU, UN, OFAC, and other major sanctions lists with instant alerts.
Adverse Media
Screen for negative news coverage that might indicate heightened risk or reputational concerns.
Risk Classification
Automated risk scoring with clear categorization: standard, medium, high, and prohibited.
Comprehensive Risk Screening
PropComply integrates industry-leading screening databases to identify PEPs, sanctioned entities, and other high-risk indicators — with clear escalation pathways when matches occur.
Our screening isn't just about generating matches. We provide actionable guidance on what each match means and what steps you should take, based on the specific risk profile and your regulatory obligations.
Prepared for Regulatory Reviews
PropComply maintains comprehensive audit trails and documentation that satisfy regulatory inspection requirements.
Complete Records
All KYC/CDD documentation stored securely for the required 10-year retention period.
Audit Trails
Timestamped log of every action, decision, and document access.
Decision Documentation
Clear records of risk assessments, approvals, and escalation decisions.
Export Ready
One-click export of complete case files for inspector review.
AML in Spanish Real Estate — FAQ
Practical answers about Ley 10/2010, SEPBLAC and CDD for property transactions.
What is Ley 10/2010 and who does it apply to?
Ley 10/2010 is Spain's main AML/CFT law. It applies to obligated subjects including real estate agents, lawyers, notaries, property developers, tax advisors and auditors. Real Decreto 304/2014 develops the law with detailed CDD, EDD, recordkeeping and reporting requirements supervised by SEPBLAC.
What AML obligations do Spanish real estate agents have?
Customer identification and verification, beneficial owner identification, understanding the purpose of the business relationship, ongoing monitoring, Enhanced Due Diligence for high-risk situations, recordkeeping for at least 10 years, and reporting suspicious activity to SEPBLAC.
What is source of funds documentation in Spanish property transactions?
Source of funds evidence shows where the buyer's money for the transaction comes from — for example salary, business income, sale of an asset, inheritance, or investment proceeds. PropComply structures the collection and review of these documents and links them to the client's risk profile.
How does PEP and sanctions screening work in PropComply?
PropComply screens clients against PEP, global sanctions and watchlist data, with guided workflows to confirm true matches versus false positives. Results feed into the suggested client risk level, and decisions are timestamped in the audit trail.
Does PropComply make me SEPBLAC-ready?
PropComply supports inspection readiness by maintaining a structured, timestamped audit trail of KYC/CDD decisions, risk assessments, EDD measures and shared files. Each obligated subject remains responsible for the quality of its own AML programme and the decisions it makes.
Ready to Strengthen Your Compliance?
See how PropComply can help you meet your AML obligations while streamlining your real estate operations.
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