Before purchasing a property in Spain we would strongly advise you to do some research and find out how this transaction should be done, what you should look for and what you would better avoid in order to play safe and keep well away from the problems and pitfalls that others experienced in the past. [...]
On 17 June 2019 the new Mortgage Law entered into force in order to adapt, with years of delay, our legislation to the EU directives approved back in 2014. This European regulation sought to harmonize the legislation of the member countries with the objective of providing security for banks but mainly for their clients when [...]
What do I need to do to rent my house to tourists? Is it now forbidden to rent properties in Andalusia for holiday periods? Do I need to register my property with the Andalusian Tourism Council to be able to rent? Following press publications about the new laws ruling the tourist homes and accommodation in [...]
(Edited 15/04/2019 to include latest taxation changes) Fact 1 In Spain, mortis causa successions (to the estate of a deceased person) and inter vivos transactions (gifts between living persons) are taxable. The tax rate is the same although there are differences in the applicable bonuses and deductions. Fact 2 From 1st January 2015, the regional [...]
Spanish Government has approved the Royal Decree Law 9/2015 of 10 July by which certain tax burdens on the taxpayer are reduced. The official reason for this change is that the current economic situation and the forecasts growth over 3% allow the Government to take with immediate effect measures to alleviate the tax burden imposed [...]
The Spanish legislation on inheritance and gift tax continues to receive setbacks. It is the turn now for the Valencian regional legislation and in particular the Article 12 bis of the Law of Valencia 13/1997 which has been declared unconstitutional. We are still far away from an ideal situation where Inheritance tax treatment is harmonized [...]
It is quite common among foreign citizens when signing their Spanish Wills to leave the assets they have in Spain first to the spouse and then to the children (in case of predeceasing, renounce or simultaneous decease). This is slightly different for Spanish citizens as due to the "legítima", which is the legal obligation to [...]
The lower house of the Spanish Parliament (Congreso de los Diputados) approved on 20 November 2014 the fiscal reform that will come into force on 1 January 2015 and that it was subject of research in the previous entry of this blog. Finally it was accepted the amendment presented by the Government party group in [...]
Spanish Government has already submitted to the Parliament and Senate the draft of the 2015 State Budget Law for discussion and further approval. Among the tax novelties contained in this proposal, there is one that in the event that it is finally approved without changes could seriously increase the tax bill for owners selling their [...]
EU rules against Spain on discriminatory Inheritance tax applicable to non-residents We have good news for all foreigners with properties in Spain as their future heirs will surely pay less tax and we have excellent news for non residents who inherited and paid tax in Spain over the last 4 years as they probably [...]
On the 15th May 2014 the Spanish Official Gazette published the new Convention signed between Spain and the United Kingdom for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital which was signed in London on the 14th March 2013 and that will come [...]
(Edited 15/04/2019 to include latest taxation changes) Every now and then we receive inquiries from clients who have properties in Spain in relation to the Inheritance Tax and how to limit or improve the exposure that their heirs will have to the same. There is a lot of information on this subject on the net, [...]
The regional Government of Andalucía and the Government of Spain have come into direct collision with respect to the adoption of a series of legal bodies in the autonomous region that regulate the social objective that housing should have. Thus, the Junta de Andalucía shall be empowered, for example, to fine companies that own empty [...]
What does exactly pareja de hecho mean in Spanish law? It would be similar to the common law marriage. A union between two people, regardless of their sex, who want to live together in a committed and durable relationship and who are not united by marriage. How are the unmarried couples regulated in Spain? There [...]
The called Act for Entrepreneurs is already in effect. It was approved by the Spanish Parliament and published in the Official Gazette. This law has been prepared to encourage and facilitate the creation and growth of companies and their international development as a necessary engine for the economic recovery of the country. The law has [...]
