INVESTING IN SPAIN, YOUR LAWYER

INVEST IN SPAIN

www.virginiaramos.com

Spain is the world ´s 14th largest economy and the 5th largest economy in the EU: GDP worth 1.2 trillion USD.
Spain recieved more tan 68 million tourist in 2015
Spain is the 2nd country worldwide in receipts and the 1st in Europe of Tourists.
70th of  Forbes Top 100 companies have branches in Spain

New fast track regime fro International Investor ( Golden Visa)  on residence and Working Visa.
We  work hard to make very easy for you to get your residence in Spain. We take care of all the steps requested. Ask us by email for your residence information  at  info@virginiaramos.com. We have successfully completed many residences  and working visa in Spain.  ( Most of our clients are nationals from China, Rusia and EEUU)

Favourable fiscal system for foreign investor and R+ D activities.  We provide full Tax advise from the begining and take care of all your needs.  Spain has agreements to avoid double taxation with many  countries. Ask us for information and we will be happy to provide our service.

There are more tan 201 international schools in Spain.

The following are the best business opportunities in Spain:

 - Automative

- ICT

- Biotechnology, Pharmacy and Life Sciences

- Aerospace

- Logistics and Transport

- Enviroment and Water Treatment

- Chemical Industry

- Nanotechnology

- Agro-food

- Real Estate

- Tourism and Leisure

- Natural resources

- Textile& Retail
You will have your company set up, your residence, your bank, all your permissions on place and your family set up as well.
If you are interested to invest in Spain, we will be more tan happy to cover all your needs to avoid any problem,  making it  very easy for you. You could contact us at info@virginiaramos.com

DO I NEED AN SPANISH WILL?

1.     If you have assets in Spain the answer is yes. You need an spanish will.

2.     I have done my will in England or my country  is that valid in Spain. The answer is not.

It is true that it  could be done  part of your inheritance in your country of residence but do not forget that the part relating to your property in Spain will be done in Spain. For that part you will need to provide a valid spanish will. If you do not have it, your inherentance will have to go to an spanish Notary and sign a Declaración de Herederos, Declaration of Heirs wich will cost them more than 3 times the cost of an spanish will.

3.     My solicitor says that with my will here I can cover my assest in Spain. It is that true? Not, the answer is appointed before.

4.     If  I sign an spanish will do I have to use the spanish law for my inheretance? Not, the European Law allow you to decide which law you want that applies to your inheretance either your asset´s law or your resident law.

5.     My solicitor here told me that he could assit me to draft my will which could be applied in Spain. Is that true? Not, in Spain we have an oficial registration of last will. All the wills that are not registered there are considered not valid here.

6.     My friend did her will with a friend of her who is bilingual in Spanish, and she  advised her how to do it.Is that enough? If you do not use an spanish registered lawyer you are taking a big risk of not being rightly advised and you could not ask for responsability to anyone.  Your lawyer in Spain will provide  the best legal advice for you taken into account all her previous experience and the knowledge of the inheretance regulations in full.  

7.     How much should I pay for my spanish will? It will depends of differents circunstances but usually the lawyer will charge you around 200€ included the Notary  Legal fee and the Lawyer legal fee. If you need extra translation you may have to pay that extra  service as well.  As you can see the cost  is so low compared with all the advantages that you get for your future heirs.

8.     My  mother died without spanish will, what do I do?  You will have to hire the service of  an inheretance lawyer in Spain and initiate the inheretance procedure  without will which could cost you more than if you had an spanish will.

9.     How much should I have to pay in taxes for the inheritance? Each case is different as it  will depends of many personal circunstances of the family. The best is to choose a qualified tax inheritance law registered at Spanish Bar Association. The lawyer will study your case and will provide the best solution for your case. But only  trust in a registered lawyer in Spain. Do not trust anyone who promise to save you money by rare system from outsides countries of Spain. You could end up paying so expensive the risk  for it and even loosing all your assets for it.

Remember to hire the service of a registered lawyer in Spain. Always request the registration number. Do not trust aynone who could not provide his or her number who may not be a lawyer. Do not take risk in so serious matter of your life.

RENTING YOUR PROPERTY IN SPAIN TAXES

Do you have a property in Spain and you are renting some months per year or the all year?

If the answer is yes, you are oblied to declare your incomes for the rentals payments each month.

You need to contact your tax lawyer who will be able to inform you either you should declare the incomes each month, each 3 moths or once per year depending of your case.

Your lawyer will ask you as well for recipt of IBI payments, Community of owners, Home Insurance or mortgage payment in case it applies as you could deduct all these cost from your incomes.

Make sure you hire a registered in a Bar Association Tax Lawyer. Requesting his or her registration number provides you a guarentee in case something happens.


All lawyers in Spain are oblied to be registered at a Bar Association where is working.

SPANISH TAXES FOR NON RESIDENTS PROPERTY OWNERS IN SPAIN

non resident taxes lawyer spain

NON RESIDENTS TAX

1. If you are tax resident out of Spain but you own a property in Spain, you are non residents  tax payer in Spain.

2. You should hire the service of a  tax lawyer to submitt your annual non residents taxes.

3. In Spain the tax year starts in January and end in December.

4. Most of the Lawyers starts the  non resident tax submissions around June of each year.

5. The amount to  be paid is not much  but it is compulsory to present each year. In case you do not submitt it on time you will be charge with  a late submission charge which will increase per each day of late payment.


6. Your taxes will depend on the value of your property and it will be apply to differents amounts depending if you are EU resident or not.

7. These  amounts change every year, therefore is very important to hire the service of an expert in non resident taxes.

8.As well  it is important to know that each owner needs to present a tax declaration. Therefore  if you own 50% of the property you will present your tax for your 50% of the property and the other owner needs to present his taxes for his shares in the property.

9.The cost of this service depends of the service  provided. 

The good service should be :

 
1) Informing of your duties, request the documents and help you to get them in case you do not have with you all by emails or telephone or meeting in your language.

2) Prepare all the calculations and provide to you all the  information and resolve all your doubts. 

3) Ask you for your taxes and his legal fee. Once is received, he will pay them for you and send you or give you  the original confirmation of payment.  This is very important to keep, in case the Tax office tries to request it again you could have the probe that it was paid.

 
4) The following year your lawyer will contact you to remain you the duty of tax payment.


10. We are expert in non residents  tax law  with large experience in non resident in Spain. We provide the best service in your languages and  offer a good  price for our quality service.


Other questions? Contact us at info@virginiaramos.com 

DEALING WITH YOUR MORTGAGE IN SPAIN

If you need a mortgage to buy your home in Spain, please hire the service of a professional independient advisor.

Your spanish lawyer could help to get the best mortgage for you and make sure that all your rights are covered.

What should your lawyer do for you?

First, compare all the conditions of  the differents banks could offer for you.

The most important is not only  your monthly quote  if not the rate you are paying for  your mortgage.

It is not the same to pay Euribor plus 1% than Euribor plus 2 % you could pay double of the price of your house if you do not get a good advise before to sign your mortgage.


Your lawyer should advise on:
1.  The legal rate according to the market. The maximum and the minimun rate to pay.
2.  The Openning commissions
3.  The partial cancelation commissions
4.  The total cancelation commissions
5. Compulsory or not Home Insurance
6. Others products links to the mortgage like life insurance or medical insurance, bank deposits...

You should get all the conditions ready in your binding offer  before go to the Notary. You could read and revise all the clauses with enough time.

You choose the Notary and you choose the Gestoria, because you are the payer. The Banks provides you a service that you are paying for,  do claim all your rights.

For more information contact us at  info@virginiaramos.com