In a bid to attract new investors and entrepreneurs to Spain, the government has announced a new law which stipulates that foreign investors who purchase a property over the value of €500,000 will be granted residency. This new law is expected to be in place as of 1st January... Leer más...
Please be aware that it is no longer possible for a lawyer to apply for an NIE number through a Power of Attorney. Due to recent changes in the Spanish law, people now need to apply for their NIE number personally, at the police station.
NIE numbers may also be applied for at any Spanish... Leer más...
The Andalusia regional government has just introduced an increase on the Property Transfer Tax (ITP) and Stamp Duty (AJD), which is in force since 1st January 2012. From now on, Transfer Tax for resale property purchases will be calculated according to the following rate:
Any amount up to... Leer más...
The new Spanish government has extended the 4% IVA (VAT) for brand new properties until the end of 2012. This way, brand new property buyers will keep on benefiting from a 4% reduction on their IVA (VAT). This reduction is only applicable to brand new properties from developers, not for resale... Leer más...
When you have purchased a property in Spain, or you are the holder of any other assets in Spain, such as bank accounts, life insurance policies, shares or any other type of financial products, it is of key importance to grant a Will in Spain, which will avoid future formalities, complications and... Leer más...
Reduction on vat from 8% to 4% for New Spanish Property until 31st December!
This is a big bonus to the construction industry and buyers of new properties.
It is only a short term measure but will offer good savings to purchasers wishing to invest in new property and will hopefully help to... Leer más...
Buying a property in a company name is, in many respects, a good proposition, unless you ask certain lawyers who will tell you that it is always beneficial (for them, that is, from a financial perspective). Logically, giving incorrect, wrong or biased advice is never the desired option if you want... Leer más...
After absorbing tens of thousands of properties through negotiation with defaulting borrowers, or via foreclosure proceedings, banks are now property-sicker than ever to take on anymore bricks and mortar that are less valuable than the loans registered against them.
When not being able to repay... Leer más...
I have, for some unknown reason, always been suspicious of professionals wearing a short sleeve shirt and tie combination, unless, of course, they were cheesy used car salesmen or fast food managers. I have to say in my defense, however, that I have tried to leave behind my prejudices and move on,... Leer más...
Everyone knows that a mortgage loan title deed is a lengthy document with elaborate legal clauses and complex formulas where the main conditions of the loan agreement are set out. What most people don’t know, however, is that banks tend to include restrictions as to what one can and cannot do... Leer más...
