Blog / News

A sad goodbye

Raymundo Larraín Nesbitt, January, 31. 2020

Photo credit: Associated Press, Matt Dunham, File

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Buy your dream home in paradise: Costa del Sol

Raymundo Larraín Nesbitt, January, 21. 2020

By Raymundo Larraín Nesbitt
Lawyer – Abogado
21st of January 2020

The Costa del Sol boasts one of Europe’s most privileged climates. Honouring its name, the Costa del Sol has over 330 days of sunshine a year, light and warmth are never too far away.

White pearly beaches stretch lazily far away until the land meets the sky, a myriad golf courses, exclusive yacht moorings, cosmopolitan restaurants and elite international schools; all these contribute to make the Costa del Sol a unique and ideal place to settle and live in with an exceptional quality of life.

From the bling and glitz of Marbella, to the sweetly-scented gardens of Estepona, and the spiritual insightfulness of Benahavis, the Costa del Sol offers a wide array of different lifestyles to choose from. Which one appeals to you?

Where to live on the Costa del Sol?

Marbella, Benahavis, and Estepona.

Marbella, an iconic place of world renown and beauty. Marbella honours its name, which means ‘beautiful sea’ in Spanish. Luxury and good life meld to create a unique place chosen by discerning tourists and bon vivants for generations. Marbella, with its beautiful bewitching La Concha mountain, draws you in, capturing the imagination of tourists for decades. It is a melting pot of nationals from all over the world, who flock to it choosing it as second residence to enjoy the sea and its famous all-year-round micro-climate. Modern communications (including toll highways), a plethora of amenities, a first-class modern hospital, private schools, shopping centres galore make Marbella an ideal home for families with young children and retirees. Marbella caters to discerning and sophisticated property buyers looking to purchase outstanding homes. This sassy city offers the best of style, beauty and luxury the world has to offer for those privileged few that can afford it. If anything, you will be spoilt for choice in Marbella.

Benahavis is a small peaceful town nestled high in Ronda’s mountain ridge. This picturesque town, founded by Arabs over 1,000 years ago, is straight out of a post card. It is home to over 100 family-run restaurants which cater to a demanding crowd. Over the last years it has become the place of choice for ultra-wealthy individuals looking for privacy who have built fabulous mansions overlooking the Mediterranean Sea. The dusk falls against the dramatic sky drop of the silhouetted mountain ridge is second to none, simply breath taking. This steady influx of affluent newcomers, who seek the refuge of spiritual wellness and flee from large urban agglomerations which dot the coastline, has strongly contributed to make it the town with the highest income per inhabitant of all Andalusia. Benahavis, the best kept secret of those in the know.

Estepona, the garden city, for years was overshadowed, snubbed by its two glitzier sister cities; no more! It has come into its own, becoming a hotspot for bustling offplan activity. Estepona teams with life, commingling a traditional laid-back Spanish lifestyle with an international sophistication. The Kempinski 5-star resort hotel is the city’s flagship of style and luxury. Estepona has worked hard to build its own reputation as a garden eden which is reflected in its beautiful sprawling gardens and lush green areas surrounding the city. If you are looking for the authentic Spanish flavour, and (still) affordable seashore prices, look no further. Estepona, the place to be seen.

Andalusia, where heaven meets earth.

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.

2.020 © Raymundo Larraín Nesbitt. All Rights Reserved.

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How to buy and sell property in Spain other than in euros

Raymundo Larraín Nesbitt, January, 7. 2020

Marbella-based Larrain Nesbitt Lawyers has over 17 year’s taxation & conveyancing experience at your service. 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.

Blog post copyrighted © 2019 and 2020. Plagiarism will be criminally prosecuted.

 

By Raymundo Larraín Nesbitt
Lawyer – Abogado
7th of January 2020

A question we frequently get asked is if you can buy and sell property in Spain in a currency other than euros. Short answer is yes, and in fact it is done fairly frequently. I’m going to write a daft little example which in truth happens all the time.

Imagine the case of a British seller who wants to sell up and return to the United Kingdom. He finds a fellow British interested in buying his Spanish property. Normally, a buyer needs to change over his sterling pounds into euros, buy the house, and then the seller would need to change again the euros into sterling pounds when he heads back to the UK. If both buyer and seller are ill-advised, they are going to pay steep commissions for the privilege of changing back the sales proceeds from one currency to the next and then back again. In truth it would make no sense in this particular case. Surprisingly, many buyers and sellers make this grievous mistake because they have not taken proper legal counsel.

In this particular scenario, it makes sense that the property is acquired and paid for only in pounds. Thus, cutting out all the pesky exchange rate commissions not to mention the risk of fluctuation rates. The Spanish Notary will have no qualms to witness the conveyance in the mutually agreed currency (sterling pounds). Your lawyer must add a few pointers to the deed to make it happen, otherwise the transaction will not be accepted by either the Spanish Tax Office or the Land Registry.

Notwithstanding the above, all property-related taxes need to be calculated and paid for in euros, granted. But that is only blatant. What matters is that the bulk of the operation can go forward in your chosen currency without losing a great deal of the proceeds along the way in middlemen, exchange rate commissions and bank charges. On doing this, both parties stand to save between 2 – 5 % of the sales proceeds, let alone avoiding FX currency fluctuation risks. Not bad at all, eh?

 

Original article commissioned and published by IDEALISTA: How to buy and sell property in Spain other than in euros

Legal services available from Larraín Nesbitt Lawyers

 

Conveyancing-related articles

Buying distressed property in Spain – 8th August 2011
Buying resale property in Spain – 21st February 2013
Buying off-plan property in Spain – 8th of June 2013
How to buy commercial property in Spain – 4th July 2014
How to buy rural property in Spain – 8th August 2014
How to Buy Property in Spain Safely – 10th October 2014
House Hunting in Spain – Interview with The New York Times. June 2015
Buying property in Spain from a private seller (Resale Property) – 21st of February 2017
Buying property in Spain from a developer (Off-Plan Property) – 8th March 2017
How to inspect an off-plan property overseas – Q&A with The Sunday Times. July 2017
Buying property in Spain – 10 reasons to hire a lawyer – 8th November 2016
8 Tips on Buying Off-Plan in Spain – 8th June 2018
Tax advantages on becoming resident in SpainThe Address magazine (pages 358 - 373). December 2018
Taxes on buying Spanish property – 8th December 2018
Do’s and don’ts on buying property in Spain – 8th April 2019
8 tips on buying a home in Spain – 8th June 2019

 

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.

2.019 and 2.020 © Raymundo Larraín Nesbitt. All Rights Reserved.

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Season's Greetings

Raymundo Larraín Nesbitt, December, 20. 2019

From Larraín Nesbitt Lawyers, we wish all our clients and friends a Merry Christmas and a Happy New Year!

The law firm will now remain closed for the holiday season and will reopen its doors on Tuesday the 7th of January 2020.

                                                                            ---

Desde Larraín Nesbitt Abogados, deseamos a todos nuestros clientes y amigos unas muy Felices Fiestas y un próspero Año Nuevo.

El despacho permanecerá ahora cerrado por vacaciones y nos incorporaremos de nuevo el martes 7 de enero 2020.

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Non-Resident Imputed Income Tax end-of-year reminder (NRIIT)

Raymundo Larraín Nesbitt, December, 1. 2019

The clock is ticking. If you are non-resident, and you own property in Spain, this is your last chance to file your Non-Resident Imputed Income Tax for year 2019. Even if you do not rent it out, you need to file this end-of-year tax. We file taxes online all over Spain.

Marbella-based Larrain Nesbitt Lawyers has over 16 year’s taxation & conveyancing experience at your service. 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.

Blog post copyrighted © 2019. Plagiarism will be criminally prosecuted.

By Raymundo Larraín Nesbitt
Lawyer – Abogado
1st of December 2019

 

The end of 2019 fast approaches.

One of our last blog posts for this year, is a gentle tax reminder.

All non-residents, who own property in Spain, need to file by the end of this year a tax called Non-Resident Imputed Income Tax (NRIIT, for short), even if you do not rent out your Spanish property. You are taxed on the previous year (2018).

We offer the following taxation service for a flat fee of 100 euros plus VAT/year.

We file your tax online within 24 hours.

Our last day to file this tax in 2019 is Friday the 20th of December.

 

We offer the most competitive fees in the market.

Non-Resident Imputed Income Tax (Fiscal Representation Service) €100/year

We are specialized in taxation

 

Larraín Nesbitt Lawyers, small on fees, big on service.

Larraín Nesbitt Lawyers is a law firm specialized in taxation, conveyancing, inheritance and litigation. We will be very pleased to discuss your matter with you. 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.

Legal & tax services available from Larraín Nesbitt Lawyers:

 

Holiday lettings taxation-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.

2.019 © Raymundo Larraín Nesbitt. All Rights Reserved.

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Sotheby’s, our most illustrious plagiarist (to date)

Raymundo Larraín Nesbitt, November, 18. 2019

Marbella-based Larraín Nesbitt Lawyers has over 16 year’s taxation & conveyancing experience, offering you 40 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.

Article copyrighted © 2019. Plagiarism will be criminally prosecuted.

By Raymundo Larraín Nesbitt
Lawyer - Abogado
21st of November 2019

 

Before publishing this post, Sotheby’s International Realty was contacted multiple times to no avail. They declined to comment, much less issue an apology, to any of our communication attempts.

It is with much surprise we learnt that a prestigious company as Sotheby’s, established in 1744, with an annual turnover of over $1bn, with over 1,600 employees, would stoop to plagiarize ad verbatim a 1,378 word copyrighted article from a small humble law firm as ours.

Our article was used to peddle their multi-million pound Golden Visa service marketed to affluent clients (service starts at 500,000). The only thing different was they removed my name, and company name, and replaced it with Sotheby’s company logo. When I worked in the United Kingdom for several years, plagiarism was frowned upon; perhaps times have moved on and standards have dropped since.

Our article was copyrighted on the 14th November 2013, it was one of the first articles published on Spain’s then newly approved Golden Visa law which garnered much attention. Sotheby’s International Realty (Gran Canary) plagiarized our article in 2018 offering it to their clients as a fact sheet on their Golden Visa service. Of the nine pages this Sotheby’s document has, five are word-for-word our copyrighted article. The initial 4 pages just give a general description of the Canary Islands and why you should invest there.

 

In other words, the core of Sotheby’s International Realty Golden Visa fact sheet hinges on our copyrighted work, which was lifted from our law firm’s website without our permission.

With well over 300 tax & legal articles written since 2004 in multiple languages and published in several hundred websites, magazines and newspapers, we’ve caught over 1,415 individuals and companies plagiarizing us over the years. Every week we catch an average of two. Every article and blog post we write is painstakingly registered for copyright before it’s published (such as this one); any discussion over authorship rights ends before it even begins.

Anyone can use our articles as long as we are duly credited, is this too much to ask for?

 

Plagiarism: Spot the Differences

Spoiler: no differences!

 

 

Sotheby’s article

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Our article

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Sotheby’s article

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Our article

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Sotheby’s article

Capture-5

Our article

Capture-15

Sotheby’s article

Capture-7

Our article

 

Capture-8

Sotheby’s article

Capture-13

Our article

 

Capture-14

Sotheby’s article

Capture-16

 

Capture-12

Our article

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Plagio related articles:

Plagiarism: Flattery or Just Plain Stealing? – 7th May 2010

Plagiarism: Flattery or Just Plain Theft? – 8th October 2016

 

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 or finance 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.

2.019 © Raymundo Larraín Nesbitt. All Rights Reserved.

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Of Palm Trees and Plumbing

Raymundo Larraín Nesbitt, November, 11. 2019

Marbella-based Larrain Nesbitt Lawyers has over 16 year’s taxation & conveyancing experience at your service. 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.

Article copyrighted © 2019. Plagiarism will be criminally prosecuted.

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
11th of November 2019

 

Today Saint Martin’s day (AKA as the Old Halloween), I thought I would share a recent client enquiry we had.

Our American client wished to rent long term a villa perched atop a hill, which had commanding sea views, nestled in the beautiful peaceful town of Benahavis (Malaga). He approached us because he had gnawing doubts on a great lease deal he had found on internet. The monthly rental was incredibly well priced (read well-below the market value) considering the luxury location, the size of the plot and the lavish villa which boasted its own mature garden. Wary of something that sounded too good to be true he hired our rentals read & review service.

At a first glance the lease agreement seemed fine, except of course for the remarkable low monthly rental. However, upon closer inspection a couple of clauses caught my attention.

The first one was a clause on garden maintenance. It all seemed standard given how he was renting after all a luxury villa with a lush mature garden. But I focused on a line that mentioned the tenant would be liable to prune all palm trees in the property. I went back to my client and asked him if the property had many palm trees. As it turned out the property had several dozen. My non-resident client was unaware that pruning tall old palm trees could fetch several hundred euros, per tree. All in all, you were easily looking at over 20,000 euros in pruning expenses, only in palm trees, let alone other garden maintenance.

The second clause which caught my attention, because it was unusual, was that a tenant also undertook the responsibility of repairing and replacing all the plumbing and piping of this old property. As this was a villa that was decades old there was a huge risk that, unbeknown to him, there were lurking problems not apparent to the naked eye. Unless you hired a chartered surveyor beforehand to review the plumbing, you simply could not know if the landlord was trying to pull a fast one on my client. Plumbing of established properties can easily be in the dozens of thousands of euros if workers need to dig up the house and replace the expensive tiling. By law, tenants are liable for all normal wear & tear. Plumbing should be excluded, unless you specifically agree to it in a lease agreement – in which case it becomes binding.

You could surmise the conniving landlord was all too aware of both issues and regularly baited gullible tenants with a very low monthly rental as an enticing hook. The landlord would then request to be paid upfront a sizeable deposit in guarantee the tenant fulfilled his ‘contractual duties’. If a tenant refused, he would simply pocket the large deposit as a breach of contract on non-performance.

Bottom line, what a tenant saved himself in monthly let, he would overpay by way of pruning the huge collection of mature palm trees and repairing (or replacing) the faulty decades-old piping system. Signing this contract will set you back by at least thirty thousand euros. When you factored in these two items, in balance, you concluded the rental was in fact grossly overpriced. A classic case of clickbait.

 

You can hire our rental read & service from only €121 (VAT inclusive): Rentals (read & review)

All lease agreements reviewed within 24 working hours, as from payment. Be proactive, talk to a lawyer. We can make it happen.

'If it sounds too good to be true, it probably is.' – Old adage

 

Larraín Nesbitt Lawyers, small on fees, big on service.

Larraín Nesbitt Lawyers is a law firm specialized in taxation, inheritance, conveyancing, and litigation. We will be very pleased to discuss your matter with you. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on 952 19 22 88 or by completing our contact form to book an appointment.

 

Legal services Larraín Nesbitt Lawyers can offer you

 

Rental-related articles

 

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.

2.019 © Raymundo Larraín Nesbitt. All rights reserved.

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Did you know? Borrowers have a right to appoint a surveyor on mortgage-backed loans

Raymundo Larraín Nesbitt, November, 5. 2019

Marbella-based Larrain Nesbitt Lawyers has over 16 year’s taxation & conveyancing experience at your service. 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.

Article copyrighted © 2019. Plagiarism will be criminally prosecuted.

By Raymundo Larraín Nesbitt
Lawyer - Abogado
5th of November 2019

 

Most borrowers meekly accept the mortgage surveyor appointed by their lender. Probably because they do not know any better. But did you know that, following new laws, borrowers have the right to appoint their own surveyors for a mortgage loan? Interested?

Law 1/2013 of 14th of May amended Spain’s Mortgage Act from 1981 in its art 4:

“Las entidades de crédito, incluso aquellas que dispongan de servicios propios de tasación, estarán obligadas a aceptar cualquier tasación de un bien aportada por el cliente, siempre que, sea certificada por un tasador homologado de conformidad con lo previsto en la presente Ley…”

This article now reads that lenders are forced – by law – to accept any surveyor proposed by a client (borrower) as long as this surveyor is duly registered and homologated by the Bank of Spain.

You may be asking yourself, why on earth would you go into all the trouble of appointing your own surveyor instead of a lender’s? The answer is simple, lenders post-crash do very conservative property appraisals in mortgage loans (read 30 to 40% under the ‘real’ market value) to the point that more than one deal has gone under because of it. This benefits lenders, not borrowers (I know, shocking). The reason on why lenders would do this are explained in much detail in our in-depth article: Bank Valuations vs Market Value.

Next time you want to ask for a mortgage-backed loan in Spain, don’t be a sheep. Now you know you have a right to appoint your own property surveyor and your lender is forced to accept him/her (as long as homologated and registered with the Bank of Spain).

Either way, you will end up paying for a surveyor; you may as well choose someone that actually looks out for your interests and not the lenders'.

You are welcome.

 

We offer the most competitive fees in the market.

Conveyancing – Buying

We are specialized in conveyancing

 

Larraín Nesbitt Lawyers, small on fees, big on service.

Larraín Nesbitt Lawyers is a law firm specialized in conveyancing, inheritance, taxation and litigation. 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.

 

Legal services Larraín Nesbitt Lawyers can offer you

 

Mortgage-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. No sheep was harmed on writing this post. VOV.

2.019 © Raymundo Larraín Nesbitt. All Rights Reserved.

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Happy Halloween!

Raymundo Larraín Nesbitt, October, 31. 2019

Anál nathrach, orth' bháis's bethad, do chél dénmha

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Brexit checklist: it’s the final countdown

Raymundo Larraín Nesbitt, October, 10. 2019

Lawyer Raymond Nesbitt briefly reviews the Brexit checklist for expats living in Spain.

Article copyrighted © 2019. Plagiarism will be criminally prosecuted.

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
10th of October 2019

 

Well, it’s finally happening. Brexit is upon us.

We are on the run-up to the breakup of the Union, as we know it.

If you are an expat living in Spain, you’d do well to follow the rundown below:

  1. Apply for residency. 
  2. Attain a NIE number. 
  3. Enrol in your town hall census.
  4. Ensure you have access to healthcare in Spain.
  5. Exchange your UK driving licence for a Spanish one.

 

For up to date information on all Brexit matters, please browse HM Government webpage:

gov.uk/guidance/living-in-spain

 

 

 

 

“There is a remedy which ... would in a few years make all Europe ... free and ... happy. It is to re-create the European family, or as much of it as we can, and to provide it with a structure under which it can dwell in peace, in safety and in freedom. We must build a kind of United States of Europe... for those who will, for those who care.” – Sir Winston Churchill, University of Zurich speech, 1946.

 

Sir Winston Leonard Spencer-Churchill (1874 – 1965). Born into a privileged aristocratic family,  he was an eminent British career officer, artist, historian, delicious eccentric and laureate writer – awarded the Nobel Prize in Literature in 1953 “for his mastery of historical and biographical description as well as for brilliant oratory in defending exalted human values.” With dogged single-minded determination he defied alone, and managed to stave off, the tyrannical Nazi wave in WWII, unwaveringly assisted by our American cousins, which threatened to swallow whole the United Kingdom as it had already overrun most of Europe. He resolutely led the country out of its darkest hour, restored Europe's freedom and laid the groundwork for peace and prosperity which all future generations have come to enjoy since and taken for granted, or so it would seem. As a keen-eyed historian, in line with fellow Founding Fathers Schuman and Monnet, he was quick to grasp and understand the importance of a united Europe to avoid repeat past mistakes which had resulted in two world wars that ravaged the continent. Consequently, he became a staunch defender of the idea of creating a single supranational political and economic entity which reconciled old foes and would act as guarantor of peace & prosperity in the continent (in his own words, a “United States of Europe”); in time, this European fellowship would be known to us as the European Union. Churchill was instrumental, and the key driving force, behind the creation of the Council of Europe, a forerunner of what is now the European Union. He is credited as one of eleven Founding Fathers of the Union. Churchill incarnated like no other the best of British values. A child of the House of Commons, he was a proud servant of the State, never its master. A true statesman that would always put ahead of any consideration the best interests of our people, semper fidelis to Lincoln's Gettysburg ideals, by tearing down divisive walls and fostering at every opportunity union.

Simply put, he’s likely the finest British politician ever to grace 10 Downing Street.

 

Larraín Nesbitt Lawyers, small on fees, big on service.

Larraín Nesbitt Lawyers is a law firm specialized in taxation, inheritance, conveyancing, and litigation. We will be very pleased to discuss your matter with you. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on 952 19 22 88 or by completing our contact form.

 

Related legal services

 

Brexit-related articles

 

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. No delusional secessionist politician was harmed on writing this article. VOV.

2.019 © Raymundo Larraín Nesbitt. All rights reserved.

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