Real Estate Agents
We offer a comprehensive service for property purchase and sale. As administrator of many urbanizations in Playa Blanca, we have a detailed knowledge of the properties. We offer advice to buyers and sellers alike during the entire process.
Tax Advisors (Non-Residents)
Being a property owner entails a couple of tax responsibilities. The term “Non-Resident” is applied to foreign property owners who have their fiscal residence and pay their global taxes in their home country and not in Spain.
- Annual non-resident’s income tax. To be filed once a year, before 31 December of the year following the tax year. The tax is levied on an actual income from long term rentals, or on the benefit, it is deemed that the owners have had for the self-use of the property. In the year of sale or purchase, you pay the tax for the proportional part of the year of ownership.
- Income tax on tourist rentals. Filed once per quarter, during the first two weeks of April, July, October and January. Once a year, it may be necessary to file certain reports. On the Canary Islands, the regional value-added tax IGIC may apply. We also file your IGIC registration, or “Form 400”, which is required when applying for a tourist rental license.
- Inheritance, Gifts & Wills. If you have to process an inheritance or want to partially or fully gift your property to the next generation, you will require good knowledge of the Spanish bureaucracy and tax system. We advise our clients, offer detailed explanations and work out an individual plan based on your personal wishes and requirements. The service includes full representation, accompanied notary visits, translations, filing and payment of taxes and registration of the ownership changes.
When a property is sold, the buyer and the vendor both face fiscal obligations:
- Capital Gains Tax. If the vendor is a fiscal non-resident in Spain, the buyer is obliged to retain 3% of the sales price and pay the amount to the Tax Agency as an on-account payment of the vendor’s possible capital gains tax. The amount is paid by filing form 211 within 30 days of signing the title deed. The vendor must file form 210 for the capital gains tax within 3 months after the date of the filing of form 211. The capital gain is the difference between the gross acquisition value and the net sale’s proceeds. The usual tax rate is 24% – however, residents of the EU, Iceland and Norway pay a reduced rate of 19%. If there is no or little capital gain, the tax retention of 3 % will be fully or partially refunded from the tax agency following the approval of form 210.
- The property transfer tax is 6,5 % of the sales price and is declared on form 600. The tax must be paid by the buyer within 30 days of signing the title deed.
- The plus-value tax (plusvalía) is levied according to the years of ownership and is based on the public tax value (valor catastral). The tax is paid by the vendor.
Administration of communities of owners
Our administration of owners’ communities covers, in general, the following tasks:
- To keep the accounts and make payments on behalf of the community and to collect the fees from owners.
- Preparation of quarterly financial reports to the president of the board.
- Preparation of documentation for the AGM, summons, yearly financial report, budget, quotes for projects, translations of documents, assistance at the AGM and the distribution of the minutes of the meeting.
- To act as a contact person for owners, suppliers and others connected to the community.
- Any other task related to the every-day administration of the community.