Map of Spain | FAQ | The Legal Side | An Overview | Search Properties Abroad

(1) What are my legal responsibilities once I buy a property in Spain?
Basically once you’ve purchased your property and paid all the relevant fees associated with the actual purchase transaction  i.e. notary, registrar, solicitor etc, then as a non resident it’s fairly simple.
The first thing you need to apply for is a N.I.E. number (if you’ve not already done so prior to completion).
This is a fiscal identification number and is required when you pay taxes or have any dealings with the Hacienda, the Spanish Inland Revenue.
In a way, it’s unique like our passport number or national insurance number that we have in the United Kingdom.
If you decide to become a resident in Spain, you still need a N.I.E.

(2) What else is there apart from the N.I.E. application?
As a non resident property owner there are several very simple returns that you have to make on an annual basis relating to your assets in Spain.
If you are resident and depending upon your personal circumstances (working, pensioner) returns have to be made and vary from person to person. Working people submit returns dependant upon their circumstances whether employed, self-employed etc. We recommend you use professional services of a lawyer ~ in order to give you complete peace of mind irrespective of whether you are resident or non-resident.

(3) What is the medical cover like in Spain? Excellent in simple terms.
As a non resident you will visit your property maybe several times a year and normally you have some form of travel insurance or bring with you an E1 11 form from the DHSS in the U.K. which covers you for emergency medical treatment during your temporary visit.
Over the years people have tended to use E1 11’s as almost a health insurance whilst actually living here …a loophole which the authorities are quickly eliminating as more and more pressure and workload is put onto the  medical authorities from illegal claimants/patients. The rule is if you live and work here then you must pay social insurance in order to qualify you for legal medical treatment for you and your family.
As a resident paying social insurance you can enroll in the state system which covers you for routine health visits and emergency treatment. The local health clinics and hospitals are very modern and helpful.

(4) What are the capital gains tax liabilities upon sale of my property?
As in  the U.K. you pay capital gains tax which is a flat 35% for non residents and 20% for residents. Likewise there are exemptions and allowances and they are treated on an individual basis.

(5) What about inheritance tax?
This is subject to more than one law as in the case of the U.K. However there are options available whereby future liabilities can be efficiently minimised using professional advice…provided to our clients free of charge.

(6) Do we have to make a Spanish will?
Although it is not compulsory, we recommend that anybody owning property in Spain should make a Spanish will specifically related to  their Spanish assets. This is a relatively simple matter to do which any solicitor can  advise you on.


 

 

© 2002 Key Moves
Residential Property Services.
An NAEA Homelink Agent.

 

Map of Spain | FAQ | The Legal Side | An Overview | Alicante to La Manga