Marbella-based Larraín Nesbitt Lawyers has over 19 years' taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain. You can review here our client’s testimonials.
Copyrighted © 2022. Plagiarism will be criminally prosecuted.
Mortgage applications rise by 24.7% year on year. This is the best figure in over 11 years. Only in May 44,165 mortgage loans were granted. Following the data supplied by Spain’s INE (national bureau of statistics) there has bee an accumulated growth of 50% between January and May, with 193,600 mortgage loans. The average interest applied is 2.47%.
This goes to show how Spain’s property market is living a boom with resales appreciating by 8.5% and off-plan by over 10%.
Source: Idealista
Related articles:
Mortgage loans: fixed or variable interest rate? – 11th March 2022
At Larrain Nesbitt Abogados we have over 19 years’ experience buying, selling, and renting properties. We are also specialized in taxation, immigration & residency visas. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88, or by completing our contact form to book an appointment.
Larraín Nesbitt Abogados, small on fees, BIG on service.
Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. No social-communist politician was harmed on writing this blog post. VOV.
2.022 © Raymundo Larraín Nesbitt. All Rights Reserved.
... Read moreMarbella-based Larraín Nesbitt Lawyers has over 19 years' taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain. You can review here our client’s testimonials.
Copyrighted © 2022. Plagiarism will be criminally prosecuted.
A staple requirement across all visa types in Spain (including a Golden Visa) is that applicants need to secure private health cover from a Spanish-based provider. This requirement is in place to avoid applicants claiming benefits or using the Spanish public healthcare services.
As a general rule, Spanish healthcare companies do not accept applicants over the age of 70 years old. Very few accept from 70 to 75, and none over 75 years old. The impact of this cannot be understated. In effect, this means that applicants aged 75, or over, are barred in practice from applying for a Spanish visa.
Bottom line, if you and your loved ones plan at some point to retire to Spain and apply for residency, please plan ahead to ensure you do so before you hit the ages of 70 -75 years old.
Related article
At Larrain Nesbitt Abogados we have over 19 years’ experience buying, selling, and renting properties. We are also specialized in immigration & residency visas. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88, or by completing our contact form to book an appointment.
Larraín Nesbitt Abogados, small on fees, BIG on service.
Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. No social-communist politician was harmed on writing this blog post. VOV.
2.022 © Raymundo Larraín Nesbitt. All Rights Reserved.
Bottom line, if you and your loved ones plan at some point to retire to Spain and apply for residency, please plan ahead to ensure you do so before you hit the ages of 70 -75 years old.
... Read moreMarbella-based Larraín Nesbitt Lawyers has over 19 years' taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain. You can review here our client’s testimonials.
Copyrighted © 2022. Plagiarism will be criminally prosecuted.
As we’ve been reporting over the last years, the situation of squatters is out of control in Spain. The social-communist government in power not only abides the squatter movement, but does everything within its reach to empower it.
Several of Spain’s ministers, until not so long ago, were active pro-squatter militants attending marches to uphold their rights.
As a result, we now have squatters invading and occupying properties all over Spain, even affecting where I live. This is a direct consequence of the gross negligence and reckless incompetence of our social-communist government who act like teenagers instead of grown up and responsible adults.
As an example, two French men, aged 84 and 53, were remanded into custody this week in Barcelona, and are now awaiting to be handed a prison sentence, on attempting to enter and free their own property from squatters who had recently taken it over. You can read the full news clip here.
The region of Madrid, led by a courageous woman who stands up to social injustice, Miss Ayuso, has approved an emergency number where aggrieved owners can now call to have squatters forcefully removed from their properties in under 24 hours. You can read the full news clip here. Madrid's anti-squatter webpage.
It beggars belief that a person in the 21st century, who invades other people’s private property and doesn’t pay taxes, has more rights under this communist administration than law-abiding citizens that pay their taxes and own property outright. The world is upside down.
Related articles
At Larrain Nesbitt Abogados we have over 19 years’ experience buying, selling, and renting properties. We are also specialized in immigration & residency visas. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88, or by completing our contact form to book an appointment.
Larraín Nesbitt Abogados, small on fees, BIG on service.
Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. No social-communist politician was harmed on writing this blog post. VOV.
2.022 © Raymundo Larraín Nesbitt. All Rights Reserved.
... Read moreMarbella-based Larraín Nesbitt Lawyers has over 19 years' taxation & conveyancing experience at your service. We offer a wide range of over 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain. You can review here our client’s testimonials.
Copyrighted © 2022. Plagiarism will be criminally prosecuted.
Just a gentle reminder to all non-residents, who own property in Spain and rent it out (whether long or short-term i.e. holiday home); you must file your Q2 2022 quarterly tax return now in April. You are being taxed on your rental income for the previous three months: April, May, and June.
For 2022, the non-resident tax calendar is as follows:
Our cut-off date to accept filing Q2 2022 non-resident tax returns is Friday the 15th of July 2022.
Please do not wait until the last moment to submit your quarterly tax return. We file this tax online all over Spain within 24 working hours.
We can offer you this tax service for a very competitive fee: 125 euros plus 21% VAT.
The quoted fee is per property and per tax quarter, it includes up to two joint owners i.e. husband & wife.
Our fees are 100% tax-deductible from the tax to pay.
The main highlight of our tax service is that we reduce your income tax by 70%, or more, on applying for lenient landlord tax relief on all your property-related expenses.
Contact us and pay less tax. If you overpay taxes in Spain, it's only because you want to.
Q2 2022 tax submission period
From the 1st to the 20th of July.
Related tax service
Holiday Rental Accounting Service (HRAS)
Related taxation articles
Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.
2.022 © Raymundo Larraín Nesbitt. All rights reserved.
... Read moreMarbella-based Larraín Nesbitt Lawyers has over 18 years' taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain. You can review here our client’s testimonials.
Copyrighted © 2022. Plagiarism will be criminally prosecuted.
As we predicted in our previous article (Spanish Government introduces inflation control in long term rentals – 1st April 2022), because of Spain’s high inflation, the government would continue to ‘chain’ (by this we mean renew every 3 months) the 2% inflation cap on long term rentals.
Spain’s National Bureau of Statistics (INE) reported inflation hit 8.7% Year-Over-Year during May 2022.
In view of this spike in inflation, the Spanish Government took swift action and approved a slew of measures to fight it. Amongst them, was a law to enforce inflation control in all long-term rentals.
Continuing the previous 3-month cap, it will be extended starting on Friday 1st of July and end on the 30th of September 2022. All contracts signed during this period need to abide by it.
For professional landlords, rental updates are capped at 2%. For laymen, there is freedom to negotiate. However, if no agreement is reached, a 2% limit also applies. In practice, this translates into a 2% limit for everyone.
Again, I stress it is highly likely our government will continue to renew the 3-month rental cap until Spain’s high inflation is brought to heel, which realistically could take several years, if we are to go by historic records. So, far from ‘temporary’ inflation as we advised last year (Tax breaks on buying property in Andalusia extended indefinitely! – 8th December 2021).
At Larrain Nesbitt Abogados we have over 19 years’ experience buying, selling, and renting properties. We are also specialized in immigration & residency visas. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88, or by completing our contact form to book an appointment.
Larraín Nesbitt Abogados, small on fees, BIG on service.
Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.
2.022 © Raymundo Larraín Nesbitt. All Rights Reserved.
... Read moreMarbella-based Larraín Nesbitt Lawyers has over 18 years' taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain. You can review here our client’s testimonials.
Copyrighted © 2022. Plagiarism will be criminally prosecuted.
Just a gentle reminder to all Spanish residents; you must file your IRPF annual tax return now by end of June.
You are being taxed on your rental income for the previous year: it runs from the 1st of January to the 31st of December 2021.
Our cut-off date to accept filing this resident tax return is Tuesday the 21st of June 2022.
Please do not wait until the last moment to submit your annual tax return. We file this tax online all over Spain within 24 working hours.
We can offer you this tax service starting at a very competitive standard fee: 395 euros plus 21% VAT.
The quoted fee is per taxpayer. The spouse/partner has a 50% discount on our quoted fee (only applies to IRPF).
The main highlight of our tax service is that, on renting, we reduce your income tax by 70%, or more, on applying for lenient landlord tax relief on all your property-related expenses. On renting, our fees are 100% tax-deductible from the tax to pay.
Contact us and pay less tax. If you overpay taxes in Spain, it is only because you want to.
Wealth & IRPF tax submission period
From the 1st of April to the 30th of June.
Related tax services
Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.
2.022 © Raymundo Larraín Nesbitt. All rights reserved.
... Read moreMarbella-based Larraín Nesbitt Abogados (LNA) has over 19 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists has a long track record successfully assisting expats all over Spain.
You can review here our client’s testimonials.
Article copyrighted © 2022. Plagiarism will be criminally prosecuted.
By Raymundo Larraín Nesbitt
Lawyer - Abogado
21st of May 2022
It has become apparent to everyone that we have fallen on hard times. The ongoing war in Europe (which threatens contagion to neighbouring countries), the rising inflation, the hike in taxes, hike in petrol, hike in electricity & gas, the ongoing Covid-19 restrictions, and more all add up to our woes!
But none fair harder than those in their senior years. They are hands down the most affected collective with all that is going on.
Many senior citizens struggle to get by on low pensions given the unbridled rise of prices (two-digit inflation). All they know is that each month they can afford fewer things with the same fixed amount of money.
But precisely because of their age, they are likely sitting on properties which value has gone up substantially over the previous years. Moreover, in a high inflationary context, money experts strongly advise investors to buy property to hedge themselves against inflation, so their property values are bound to increase further over the next years.
Unbeknownst to them, there is a way to tap into their wealth without needing to sell the property, much less leave their home.
This is known as selling the ‘bare ownership’ to an investor whilst retaining a ‘life usufruct’ on the property. This is a legal procedure witnessed by a notary. In simple terms, bare ownership grants ownership of a property but does not grant possession.
Pros
Cons
Conclusion
Selling only the bare ownership is a (very) smart way of cashing in on the accumulated wealth of your property without renouncing to your lifestyle. Because in truth, you won’t notice any difference other than sitting on a large pile of money!
On following this legal procedure, the owner avoids enduring all the associated hassle and aggravation of a standard property sale but reaps all its benefits! That is why this procedure is ideal for senior citizens who are asset rich, but cash poor.
For a seller, it’s a win-win as you get to keep your property (whilst you live) and you also have access to a large pile of cash with which you can do as you please.
For an investor, it is a win-win as they get to buy a property below the market value (BMV) and also do not pay inheritance tax on receiving the possession of the property in the future.
We advise you to retain a law firm -such as ours- to represent and defend your interests.
If you are interested in applying for such a loan, please contact us.
At Larrain Nesbitt Abogados we have over 19 years’ experience buying, selling, and renting properties. We are also specialized in immigration & residency visas. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88, or by completing our contact form to book an appointment.
Larraín Nesbitt Abogados, small on fees, BIG on service.
Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.
2.022 © Raymundo Larraín Nesbitt. All Rights Reserved.
... Read moreMarbella-based Larraín Nesbitt Abogados (LNA) has over 19 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists has a long track record successfully assisting expats all over Spain.
You can review here our client’s testimonials.
Article copyrighted © 2022. Plagiarism will be criminally prosecuted.
By Raymundo Larraín Nesbitt
Lawyer - Abogado
11th of May 2022
As we have been reporting over the last years, the squatter problem has been growing.
This used to be only a nuisance in large cities, such as Barcelona and Madrid, but with the advent of the Covid-19 pandemic, and associated flight bans, they have been actively targeting properties belonging to expats which stood empty.
In light of this I thought I would share this short blog post.
Spanish police can evict squatters by force within the first 48 hours they break into a main residence, following consolidated jurisprudence. A second residence, by definition, is not a ‘main residence’, granted, but installing an alarm may also be helpful, even if acting as a deterrent.
The main problem the police have is to determine exactly when they have broken in. If in doubt, the police back out and do not act, even remanding into custody any property owner that attempts to break into their own home if the squatters are inside (sic).
Installing a house alarm solves this problem as besides alerting the owner, they are connected directly with the police, which get notified immediately of any intrusion attempt. This can constitute irrefutable poof on when the squatters broke into a property. If within the first 48 hours, the police can then remove them by force - if necessary - which avoids the owner a protracted and expensive court procedure to recover possession which could take months, or even years.
Which is why we strongly recommend you install a house alarm in Spain. It adds another layer of protection against squatters and ultimately may even act as a deterrent. What is a certainty, is that a house that does not have installed an alarm system is a prime target and may fall prey to squatters (and burglars).
Larraín Nesbitt Abogados, small on fees, BIG on service.
At Larrain Nesbitt Abogados we have over 19 years’ experience buying, selling, and renting properties. We are also specialized in immigration & residency visas. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88, or by completing our contact form to book an appointment.
Related articles
Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.
2.022 © Raymundo Larraín Nesbitt. All Rights Reserved.
... Read moreMarbella-based Larraín Nesbitt Abogados (LNA) has over 19 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists has a long track record successfully assisting expats all over Spain.
You can review here our client’s testimonials.
Article copyrighted © 2022. Plagiarism will be criminally prosecuted.
By Raymundo Larraín Nesbitt
Lawyer - abogado
21st of April 2022
You are probably aware of Spain’s Tenancy Act (LAU, in Spanish). You will have likely heard that all long-term rental contracts in Spain are subject to the LAU and must abide by its terms.
But are they really? Spoiler: no!
There are a number of rental contracts that fall outside the remit of Spain’s Tenancy Act such as seasonal contracts, holiday rentals, luxury rentals, and more. Today’s short blog post is going to focus on the latter.
What conditions does a rental contract need to meet to avoid being subject to the LAU? In short, these two:
If either, or both, of the above conditions are met, the rental contract would be excluded from the protection of the LAU.
What legal significance does this have?
In short, a lot.
Basically, it means that all the thoughtful entitlements the LAU meticulously lays out for the protection of tenants (read totally biased in favour of tenants) do not apply. Meaning landlords are greatly favoured because all the lenient entitlements and rights the LAU rules on are waived legally, leaving the contract to be ruled only by the will of the parties. The legal significance of this is huge as it basically conveys a huge leverage to landlords, if they play their cards right.
This is done because our lawmaker surmises that a luxurious rental contract is signed by a tenant who is either a shrewd businessman or an affluent person; either way someone who does not warrant the protection of our (biased) tenant laws, such as the LAU.
Practical examples on its importance
Conclusion
If you plan to sign a luxury rental contract in Spain on a villa or a penthouse, you are strongly advised to take legal advice before signing on the dotted line.
Spending a few hundred euros in lawyer’s advice can save you from losing, or being sued, 100,000 euros, or more!
Larraín Nesbitt Abogados, small on fees, BIG on service.
At Larrain Nesbitt Abogados we have over 19 years’ experience buying, selling, and renting properties. We are also specialized in immigration & residency visas. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88, or by completing our contact form to book an appointment.
Related services:
Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.
2.022 © Raymundo Larraín Nesbitt. All Rights Reserved.
... Read moreMarbella-based Larraín Nesbitt Lawyers has over 19 years' taxation & conveyancing experience at your service. We offer a wide range of over 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain. You can review here our client’s testimonials.
Copyrighted © 2022. Plagiarism will be criminally prosecuted.
Just a gentle reminder to all non-residents, who own property in Spain and rent it out (whether long or short-term i.e. holiday home); you must file your Q1 2022 quarterly tax return now in April. You are being taxed on your rental income for the previous three months: January, February, and March.
For 2022, the non-resident tax calendar is as follows:
Our cut-off date to accept filing Q1 2022 non-resident tax returns is Wednesday the 13th of April 2022.
Please do not wait until the last moment to submit your quarterly tax return. We file this tax online all over Spain within 24 working hours.
We can offer you this tax service for a very competitive fee: 125 euros plus 21% VAT.
The quoted fee is per property and per tax quarter, it includes up to two joint owners i.e. husband & wife.
Our fees are 100% tax-deductible from the tax to pay.
The main highlight of our tax service is that we reduce your income tax by 70%, or more, on applying for lenient landlord tax relief on all your property-related expenses.
Contact us and pay less tax. If you overpay taxes in Spain, it is only because you want to.
Q1 2022 tax submission period
From the 1st to the 20th of April.
Related tax service
Holiday Rental Accounting Service (HRAS)
Related taxation articles
Spanish Government caps rent hikes to 2% in 2022 – 1st April 2022
Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.
2.022 © Raymundo Larraín Nesbitt. All rights reserved.
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