Why Foreign Owners of Spanish Assets Should Make a Spanish Will

One of the most common mistakes made by foreign property owners in Spain is assuming that a will signed in their home country is sufficient to deal with Spanish assets. Although a foreign will may be legally valid, relying exclusively upon it frequently creates...

Personal Mobility Vehicles

Electric scooters have transformed the urban mobility in many Spanish cities. However, with their surging popularity, concerns regarding safety and regulation have also come to the forefront. In this article, we focus into the significant regulatory changes for...

Selling a Property in Andalusia: Tax Implications for Residents and Non-Residents

The sale of a property in Andalusia can have significant tax implications, depending on whether the seller is a resident or non-resident in Spain. Here, we will discuss the taxes payable in both cases. Sale of Property as a Non-Resident: If you are not a tax resident...

Simplifying Work and Residency Permits

Spain is set to introduce a new Foreigners Regulation, marking a major update to its current laws on international residency. This change aims to simplify the rules for people from other countries who want to live and work in Spain, reflecting the needs of...

NIE, Residency cards and TIE

Brexit is now a reality and leaves three types of identity documents used for the identification of citizens in Spain: NIE Residence card TIE   What are the differences between them?     NIE (Número de identidad de extranjero) is a foreigner identification number...

Health Care Spain – Entitlement

Since the law 16/2012 dated 20 April came into force in Spain (Law of urgent measures to ensure the sustainability of the national health system) many things have changed regarding the requirements for accessing the Spanish public health care system.

Social-Security Aid for Pregnancy in Spain

Pregnant women, resident in Spain and registered in the Spanish social security, are entitled to a series of benefits depending on their particular situation. There are also additional benefits depending on the autonomous community in which you are resident.

Starting a Business in Spain

The report Doing Business 2014, published by The World Bank put Spain at rank 142 in the ease of starting a business, with an average of 23 days for the time to create a company (a very long time if we compare with other EU economies)

School Admission in Spain

In Spain, the education system is regulated by the LOE or Ley Organica de Education. This law states the major principles and requirements for running the system. Nevertheless the implementation of these principles is delegated to the different autonomous regions resulting in many differences in the day-to-day functioning of schools.

What is the process of buying a property in Spain?

As we have previously mentioned, historically, the property market in Spain was slow. We did not have the tradition of moving house often and trading up to a bigger property, which meant that property inflation was very low. Our inheritance laws meant that property...

I am thinking of importing my speed boat. Can I?

Yes, you can, but for tax implications will be better if you ask Velasco Lawyers for a quotation.

How can I set up a company?

Any person or legal entity has the right to form a limited company as a founder member. The society of limited responsibility is formed by the members with a public deed, certified by a Notary. The information that the constitution has to contain: The formal identity...

Is it advisable to set up a company in Spain?

As in the UK the decision to form a company will depend on various factors such as turnover, risk etc. As in the UK a member of the company enjoys limited liability, however, unlike the UK formation costs are high and this requires careful consideration.

Do I need a work permit to work in Spain?

Not if you are from a country of the EEA (European Economic Area – EU, Norway, Liechtenstein, and Iceland).

Can I get divorced in Spain?

Yes. In accordance to Spanish law, the Spanish Courts and Tribunals are competent in matters of personal and patrimonial relations between couples, marriage annulment, separation and divorce, when both parties reside in Spain, or at least one, at the time of placing...

Do I have to be a resident to buy a car?

No you do not, but you do need an NIE number.

Litigation

While all cases are different, the process of litigation in Spain can be slow and expensive and where possible, we try to negotiate and settle disputes out of court. If you have any doubts in this respect please do not hesitate to contact us so that we can study the...

What papers do I need to employ someone outside the EEC?

You cannot employ someone from outside the EEC if they do not have a work permit. The procedure to get the permit is long and complicate, please contact us.

What law applies if we separate, English or Spanish?

In most cases it is Spanish law which applies.

What documents must I have in the car?

Driving licence (the Driving Regulations in Spain allow Non-Residents to drive in Spain on a foreign driving licence for a maximum period of 6 months in a year). Insurance policy (original documentation) and payment receipt. Registration documents. Road Tax receipt...

How easy is it to get a mortgage in Spain?

If you decided to take out a mortgage in Spain, Velasco Lawyers will help you look for the best deal by contacting several banks in the area. In Spain there are good mortgage rates and some banks have special products designed for non-resident borrowers. We may have...

Is it really necessary to have a Spanish Will?

Yes, because if you haven’t already done so you run the risk of your heirs losing their rights to your assets if they do not claim their inheritance in time, or if your last Will and testament do not appear in the Central Registry of Wills in Madrid. Under Art. 9.8 of...

I want to bring my vintage car to Spain. Can I?

Yes, you can, but for tax implications will be better if you ask Velasco Lawyers for a quotation.

Am I liable for Inheritance or gift taxes?

Yes, you are. Generally, foreign people will only pay inheritance tax on the assets left in Spain. Be aware, however, that the estate value may also have to be included in deceased person’s estate in their home country, with any tax paid in Spain reducing that...

What inheritance Tax planning should I be considering?

There are several ways in which tax can be mitigated by tax planning. As circumstances vary, it would be prudent to seek the advice of our firm. In the case of a husband and wife, they may be able to take advantage of the 95% deduction applicable to the principle...

What is a NIE and where do I get it?

A NIE is a Numero Identificacion de Extranjero or a foreigner’s identification number. You must have one of these to buy any property or a car in Spain. It is relatively easy to obtain but the process can be long as you have to go to the foreigners department of the...

Do I need to come to Spain to sign any papers?

There is no reason for you to come to Spain to sign anything if you give your Lawyer a Power of Attorney. The POA can be sent to you in England and once signed and given an apostille, it can be used for the signing of public documents.

Is it really necessary to sign over a Power of Attorney?

You do not have to sign a POA but it is strongly advisable to do so. You may believe that you will be able to travel to sign the deeds for your new property, but there is always the unforeseen: Your money may not arrive in time, your plane may be delayed, the vendor...

I estimate that the additional costs will be around 10% of the purchase price, but what are the costs exactly?

If the property is a new build the costs involved will be: 1. Bank opening mortgage fee (around 1%-1.50 % of the mortgage amount). 2. VAT 10%. (Impuesto sobre el valor añadido/ IVA). 3. Stamp duty (Impuesto de Actos Jurídicos Documentados) 1.5% of the price of the...

I am a pensioner and a non resident; can I get free prescription drugs like I do in England?

Yes you can. You will need an E111 or its equivalent (this is changing at the moment and new applications will be issued with a card). You go to your local doctor’s surgery with your passport and a photocopy, your E111 and a photocopy, plus proof that you are a...

What is a Notary?

A Notary Public is the person whose signature and stamp make statements legal. He will not certify that the said statements are true, only that the people signing the statements agree to them and therefore it is official. Once he signs a document then it is stored in...

I plan to live in Spain for more than 6 months. What implications will this have? Must I become a resident?

The current Spanish law states any individual intending to remain in Spain longer than 183 days in any one period throughout the calendar year, should apply for a ‘Residencia’. (A Spanish tax year is the same as a calendar year: 1st January to 31st December, unlike...

When I sell what are the Capital Gains Tax implications?

Fiscal residents over 65 years of age and who have lived in the property for more than 3 years are not subject at all to capital gains tax when they sell the property. Residents and non-residents, including those over 65 years of age, living in the property for less...

Do I really need insurance?

Yes, this is an area often overlooked by some buyers. Once the property is purchased then it is prudent to find insurance from a reputable company at the best price. At Velasco Lawyer we can help you find quotations.