PURCHASING PROPERTY OWNED BY COMPANIES, HELPFUL NOTES
202004.07
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PURCHASING PROPERTY OWNED BY COMPANIES, HELPFUL NOTES

It is usually seen that expensive properties are owned by companies, companies that may have either purchased the property before or that have built it. In the process of the property purchase it is sometimes suggested to the purchaser to purchase the company shares rather than the property itself. Purchasing a company has some benefits (i.e….

PURCHASING PROPERTY WITH NON RESIDENT COMPANIES
201911.05
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PURCHASING PROPERTY WITH NON RESIDENT COMPANIES

In the last years there are a number of clients who are purchasing property in Spain in the name of non-resident companies (Belgium, Dutch, British, etc) where they are directors or shareholders. Once purchased, those properties are being made available then to their shareholders or directors who most of the times use them permanently or…

GOOD NEWS AT THE INHERITANCE TAX – NO NEWS ABOUT THE GIFTS TAX
201710.05
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GOOD NEWS AT THE INHERITANCE TAX – NO NEWS ABOUT THE GIFTS TAX

Dear readers, Again I write with good news. There are important news about the inheritance tax in Spain but the news could be certainly better. At first sight, this first line may look a bit pessimist despite the great news but surely it will be understood as not as such when I develop my explanation, in what is related to…

BYE TO PLUSVALIA TAX? HOPEFULLY SOON
201709.28
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BYE TO PLUSVALIA TAX? HOPEFULLY SOON

Perhaps I could start to explain this matter from the basics, avoiding legal terminology to make it easier to understand. When a property owner sells a property in Spain must pay a tax on the profit made when selling, this is the Capital Gains Tax (CGT). This tax is currently the 19% on the gain,…

CANCELLING MORTGAGES
201607.12
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CANCELLING MORTGAGES

The process to follow is not the same in all countries. Perhaps it may be easier to explain it with an example. Lets put the case that you have a pending balance at our mortgage of 50.000,00 €. You then decide that you would like to payoff in one go. Then the first thing to…