SOLICITORS IN TORRE DEL MAR

Unsure of which taxes you will have to pay in Spain? We offer support and advice to our expat clients on the latest Spanish tax implications, depending on whether you are a fiscal or non-fiscal resident in Spain.

We also ensure that you are up-to-date with the latest International Taxation regulations between Spain and your country of original residence so that you can avoid double taxation and even receive tax deductions specific to your situation. These may include your tax return and form 720.

In order to identify foreigners in Spain, the NIE number is used. This will be necessary for foreigners in order to carry out the following; opening a bank account in Spain, buying a vehicle or property, renting in Spain etc. This will also be used to identify your non-resident taxes at the Spanish Tax Office.

The NIE number does not allow for legal residence or tax returns in Spain – this is only granted through Spanish Residency. It is important to acknowledge this difference.

The Golden Visa is part of a Spanish investment programme that issues Spanish residency to non-EU citizens in return for investment in Spanish property. In order to receive the Golden Visa, over €500,000 must be paid on Spanish real estates, such as villas or apartments.

This programme is designed to give an easy opportunity for Spanish residency for non-EU citizens in countries such as China and Russia. Added benefits of the Golden Visa include a work permit and the business potential of the leasing of a property in touristy areas such as Marbella and Malaga.

Do you need guidance for inheritance procedures? At Tejada Solicitors, we offer an in-depth guide on everything from succession laws, intestate deaths and inheritance for non-residents, to ensure that you have all of the information you need.

Inheritance tax is something that applies to both residents and non-residents of Spain, which becomes applicable as soon as an inheritance is documented and transferred from one person to their heir. Inheritance can be money, property or any other kind of asset. Inheritance tax is known as impuesto de sucesiones y donaciones (ISD).

You can find more information about inheritance tax, including tax allowances, property inheritance for non-residents and tax reductions in our section: Inheritance Tax. Please note that inheritance tax rules vary in each region of Spain, so get in contact with us for information relevant to your case.

There are two ways properties can be rented in Spain – under long-term or short-term rental contracts. For those wanting to rent their property as a permanent residence (a home), long-term rental contracts should be used. For work and leisure purposes, such as tourist rental, a short-term rental contract would be required.

Both contracts require the property owners to pay tax. The amount of tax declared depends on factors such as whether the property owners are residents or non-residents of Spain, or are within or outside of the EU.

Depending on the type of rental contract, laws vary. Long-term rentals are under national law, whereas short-term rentals fall below regional legislations. Depending on the region, there may be other requirements, such as obtaining a license to rent to tourists.

You can find more information about this matter in our section Renting out property in Spain.