THE IMPORTANCE OF MAKING A LAST WILL IN SPAIN
It is important for foreign owners in Spain to make a will in Spain that regulates the succession of said assets. We are not
If you are a resident in Spain you will have to pay taxes in Spain, just like the Spanish citizens do.
Do you have assets in Spain and in another country?If this is the case you should take into account the tax policy of the country in which your property is located and you also have to take into account your assets out of Spain, taking into account the International Agreements between the different countries.
If you sell your property in Spain, whether you are a resident or not, you will have to pay the Capital Gains Tax on the value of the ground (plusvalía municipal). Moreover, you will have to pay the Spanish State for the Capital Gains you have had with your property, that is, the difference between the price you bought it for and the price you are now selling it for, minus expenses.
All property owners must pay the Property Tax, equivalent to Council Tax, (IBI) to the Town Hall of the place where the property is located, as well as the Solid Waste Collection Tax or Basura tax.
You will also need to pay a tax for vehicles registered in Spain in your name. If you are a resident and your assets have a high value, you may also have to pay a Wealth Tax.
If you are a non-resident in Spain, but have assets in your name in this country you will need to pay tax on the assets located here. You will also need to pay tax on any income you may earn from such property, for example, through renting out the property. When you sell your home in Spain, 3% of the sale value will be withheld as an advance payment for a Personal Income Tax called IRPF.
Afterwards a final calculation is made and you may receive a partial refund of this money, or possibly be asked to make an additional payment.
As a non-resident owner you will have to pay the Capital Gains Tax on the value of the ground (plusvalía municipal).
Moreover, you will have to pay the Spanish State for the capital gains you have had with your property, that is, the difference between the price you bought it for and the price you are now selling it for, minus expenses.
All property owners must pay the Property Tax, equivalent to Council Tax, (IBI) to the Town Hall of the place where the property is located, as well as the Solid Waste Collection Tax or Basura tax.
It is recommended that a tax audit is completed for private persons and companies with international investments who have assets in Spain and other countries, either in their home country or in third countries.
If you have a tax inspection and you are not declaring your taxes correctly or do not have your tax situation in order, you could be subject to high fines as well as pay the taxes of previous years.
Therefore, in order to avoid such tax errors, we offer you our international tax strategy and audit service.
Complete advice on the calculation of the tax that the heirs must pay when they want to accept an inheritance
We have all had a problem with the Public Administration at some point.
It is possible that it was due to an error of their own or that of the Administration. Or perhaps it is a discrepancy in the interpretation of an act associated with the payment of taxes.
In any case, we defend you from these discrepancies by saving you time and money in administrative procedures.
We provide rigorous tax and legal advice for:
Of course. Our working system allows us to handle your affairs throughout Spain, especially on the Spanish coast.
In most cases it is not necessary for you to travel to Spain, as we can represent you by power of attorney in most transactions, such as buying and selling properties, inheritances, formalities before and with the Spanish authorities or court proceedings.
To sign a power of attorney, you do not have to come to Spain. You can sign it in front of a Notary in your country
Yes, we have partners in most European countries. This is a great advantage in carrying out our work. You can contact us by sending us an e-mail. We look forward to seeing you
We are an international law firm and strive for a broad linguistic coverage. There is always someone in our team who speaks English, German, Dutch, Italian, Spanish and French.
It is important for foreign owners in Spain to make a will in Spain that regulates the succession of said assets. We are not
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Founded in 1991, García Garrido is a firm with an international vocation, offering a unique concept of integrated professional services, combining expertise and personalised attention. This philosophy, which has guided our approach from the outset, has enabled us to develop more than 25 years’ experience in the legal sector. Today, we stand out as one of the most prestigious law firms on the Costa Blanca, offering personalised client care, tailored service and specialist expertise.
Avda del Pla 130, 1º, Office 5
03730 Jávea (Alicante)
Spain
