SOLICITORS IN VELEZ MALAGA

At Tejada Solicitors Velez-Malaga, we inform our clients on International Taxation between Spain and their origin country, giving advice on ways they can avoid double taxation and receive deductions.

We also provide full support regarding all relevant aspects of taxation in Spain, including Personal Income tax, Inheritance tax, and important documents such as form 720, dependent on whether our client is a Spanish citizen or not.

For foreigners who would like to carry out certain processes such as buying a house, creating a Spanish bank account, or registering a limited company in Spain, the NIE number is necessary for you. This allows you to be identified as a foreigner when carrying out these processes, as well as when paying non-resident taxes.

The NIE number is not the same as Spanish Residency; the former does not permit your permanent residence in Spain, nor paying your taxes as a resident here.

With the purchasing of real estate of 500,000 euros or more, non-EU citizens are eligible for the Spanish Golden Visa, granting them residency in Spain by the Spanish government. The Spanish Golden Visa is part of the Law of Entrepreneurs, encouraging investment in Spain.

Non-EU citizens have the opportunity to invest in popular, in-demand areas such as Malaga or Velez-Malaga, which promises business opportunities such as tourist rental and leasing of their property(s), in return for Spanish residency for themselves and their families.

Inheritance tax in Spain applies to everyone, regardless of whether you are a resident or non-resident. Tax becomes payable as soon as there is documentation to prove the transfer of inheritance (this can be money, property or any other asset) from a family member or a friend. Inheritance tax is commonly referred to in Spain as impuesto de sucesiones y donaciones – ISD.

Our guide to inheritance tax covers everything you need to know, from laws of succession, necessary documentation, to inheritance tax allowances. As inheritance tax rules can differ substantially from region to region, we offer the relevant information for our clients who are wanting to set up a life in Spain.

Any property owner who uses their property as a rental has tax obligations. At Tejada Solicitors Velez-Malaga, we offer a guide on your tax requirements, as well as necessary steps you may need to take depending on your circumstances.

Tax amounts will vary on factors such as whether you are a fiscal or non-fiscal resident of Spain. You will also need to determine whether your property offers long-term or short-term rental contracts, which will have different requirements. For example, owners of properties for short-term rental in certain regions may be required to obtain a license before renting out for touristic purposes.

To find out more information about renting out a property in Spain, as well as recommended tips for managing rental properties, please visit the following page Renting out property in Spain.