For many investing in Spanish real estate, the urge to build your home from scratch or pick a property in need of TLC is all too great a challenge to resist.
But developing properties on non-urban land, that is to say land that is neither urban nor authorised for development by the local authorities, could leave you open to so-called ‘land-grabs’
The free movement of people may be one of the fundamental rights of the European Union, but it has arguably caused the greatest difficulties for EU nationals in matters of probate.
Laws across Member States are rarely uniform for succession purposes. In cases where the deceased was a national of one Member State but domiciled in another, careful consideration will need to be taken as to which laws will govern their estate. The national of a deceased person, where he or she was domiciled, and where his or her assets are located will all play a part in determining what laws should apply.
The Spanish government has taken steps to bring its inheritance tax rules into line with a recent European Court of Justice (ECJ) ruling.
On 3 September 2014, the ECJ held that Spain was not acting in the spirit of the European Union by charging different rates of inheritance tax for residents and non-residents.
A new inheritance tax law amending the Spanish law 29/1987, passed on 27 November 2014, makes clear the tax liabilities now faced by residents and non-residents alike.
For many, the most compelling reason to make a will is to ensure friends and family are relieved of the stresses associated with losing a loved one. But the level of certainty and control a last will and testament purports to offer, although comforting, is not always as it seems when dealing with assets in Spain.
Purchasing a property in Spain is rarely done on a whim. But at times it can feel like cutting corners here and there will help relieve the burden and stress of navigating a transaction in an unfamiliar language and jurisdiction. It is all too easy to be swayed by the relaxed purchasing culture of Spanish nationals who may suggest that commissioning a survey prior to purchase is an unnecessary expense that will delay the sale going through.
The European Court of Justice (ECJ) has taken a bold step in ruling that Spain’s current inheritance tax rules for non-residents are void for being discriminatory. Prior to the ECJ’s decision, non-residents often found themselves liable to pay more in inheritance tax to the Spanish authorities than their resident counterparts. The ECJ ruling follows on from a formal request from the European Commission in 2010 for Spain to end its discriminatory Inheritance Tax practices, as they went against EU non-discriminatory provisions.
Anyone in the history of home ownership will tell you that investing in bricks and mortar is a stressful business. If you are looking to buy a property in Spain, you may think that the romantic sheen of spending the rest of your days in the likes of the Costa del Sol will take the edge off making such a huge financial commitment, but don’t be fooled. The Spanish property market is a tricky maze to navigate unaided. Without independent specialist Spanish legal advice to guide you through its varying twists and turns you could see your dream purchase turning into a nightmare of epic proportions.
So you have decided to buy a property in Spain and you are trawling the internet and every other source of information you can lay your hands on to be certain that the decisions you are taking and the moves you are making are not going to get you into difficulty. You want a stress free purchase without any surprises, and you do not want to incur any unnecessary expenses. Jonathan Eshkeri, Director of E&G Solicitors in Spain, is an English solicitor and a Spanish lawyer. These are his ten top tips for buying property in Spain.
New laws introduced in Spain in 2013 make it possible for non-EU nationals to obtain a Spanish Residence Visa and subsequently a Residence Permit provided they make a significant investment in Spanish real estate and provide certain documentation. This is known as the Spanish Golden Visa. Here we guide you through the legal requirements.
Before you pack your bags to enjoy your retirement in sunny Spain, it's important that you have full information on the potential pitfalls and costs which you may encounter.
It is not always the fulfillment of a lifelong dream to live in a sunny climate by the sea that leads people to move to the Spanish coast when they retire. In many cases Spain is considered to be the most affordable option, in terms of property prices, heating bills, grocery shopping and things to do in the great outdoors.
I just wanted to thank you, Jonathan, Josep, Irene and your other colleagues who were involved in our purchase. I first seriously looked into buying abroad when attending the A Place in the Sun exhibition at the NEC. The one thing I took away from that event was the need to get a good lawyer who I trusted, and I'm glad I did.
