We focus on pursuing and defending civil lawsuits of all types & Courts. Our knowledge, experience and training are evident to our clients as soon as we become involved in a case. We have represented individuals and businesses in a wide range of disputes.
We aim to provide a complete Spanish Tax planning and advisory services wich are tailored to the needs of our English Speaking clients. If you have bought a property in Spain, we will assist you with the Wealth Tax, Annual Income Tax and Real Estat Tax, notice you are liable of these three taxes every year after completion.
Once you own your property in Spain, every non residents are liable of three taxes every year:
Foreign income tax
Non-residents who own properties in Spain are liable of this tax, even in the case that there are no real incomes you are subject to this tax throw the base of 2% from the TOWN HALL values reference charging 25% of this 2 % as a sort of imaginary income.
For real incomes you could obtain in Spain, for example rental incomes you are liable to add these incomes in this tax.
The presentation of this tax expires on December the 31st of each year, after the expiration time a penalty interest will be charged.
In case you own more thant 1 property in Spain the expiration time will be june the 30th of each year.
Wealth tax
If you are not resident in Spain, you must pay Wealth Tax, which is applicable to all the assets you have in Spain.
Among these assets are real estate, bank accounts, stock shares, shares, bonds, and many other goods of a certain value. The rate of this tax is very low, even can be higher depending of the value of the assets.
This tax presentation expires on December the 31st of each year and half penalty interest for late presentations.
If you own more than 1 property in Spain the presentation will expire June 30th.
Real estate tax
This tax comes direct and specificlly from the Town Hall where your property it is based and will vary depending the area located, as well this covers the public services supliement, for example rubbish collection…
The IBI tax must be paid every year, in one payment to be made between September 15 and November 15.
If you own a property in Spain and you have not payed any taxes please contact us and we will give you an answer in less than 48 hours.
We strongly recommend you making a Spanish will in order to facilitate the distribution of your Spanish assets avoiding time-consuming and expensive legal problems for the heirs.
Once you have purchased a property in Spain you should make a Spanish Will that determines who will inherit your property after you die.
As a foreign national the Spanish civil code allows you to leave your Spanish assets in accordance with the national law of your country of origin. If your own country´s law permits free disposal of the estate, this frees you from the Spanish Law of Obligatory Heirs, where a testator must leave a proportion of his assets to his direct family members. As the English law provide free disposal of assets an English person would not therefore be obliged to leave a proportion of his estate to members of his family as is required of a Spaniard.
The Spanish Will should just deal with your assets in Spain, should be made out in two columns, one in Spanish and one in English or in whatever language the testator speaks, if you have made a Will in your home country, you should make your lawyer aware of the existence of the Spanish Will in order he can ensure that the contents are not in conflict or that your English Will has not inadvertently revoked your Spanish Will.
Once the Will has been signed in presence of a Public Notary, a copy will be sent to the Central Wills Registry in Madrid as an official record, all the Spanish wills are kept on file to ensure that a legal copy can always be found., so your inheritors will not need to instruct the same solicitor you used to set up your Spanish Will.
We cover the following aspects of purchasing a property in Spain to give you complete peace of mind:
