# Taxes in Spain



## MovingOUTofFrance (Nov 1, 2012)

I have some tax queries for living in Spain as a foreigner. I am not a retired pensioner and get most of my income from assets I own in my country.

1). Is there a wealth tax in spain, if so then how much and how does it work? 
2). For someone living mainly on unearned income (investment income from overseas), do they have to pay social charges in Spain?
3) Lastly, does anyone here know about how bad rental laws in spain are for landlords, especially foreign landlords? If i were to buy a few properties and rent them out, ive read spain is not the country to do this and its very risky as rental laws are in favour of tenants and there is no security for investors.

My main concern is the income i get from my existing assets and wealth tax on those assets, if I dont have to pay through my nose then I would be happy to move to 
I would like to move to the Barcelona coast.

Thanks.


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## snikpoh (Nov 19, 2007)

MovingOUTofFrance said:


> I have some tax queries for living in Spain as a foreigner. I am not a retired pensioner and get most of my income from assets I own in my country.
> 
> 1). Is there a wealth tax in spain, if so then how much and how does it work? Yes, but you need to have assets in excess of about 700k€ unless you have a main residence here in which case there are allowances meaning you need about 1million€ before it kicks in. If you are married then that figure is per person.
> 2). For someone living mainly on unearned income (investment income from overseas), do they have to pay social charges in Spain? No
> ...


Comments above.


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## MovingOUTofFrance (Nov 1, 2012)

snikpoh said:


> Comments above.


Thanks for the responses, can you please tell me what exactly is the wealth tax on assets above 1 million? Is this a permanent tax or temporarily imposed?


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## Horlics (Sep 27, 2011)

If you get a good property in a good area for holidays then you can make a high yield on short term renting. Then you don't have any tenants' rights to worry about.


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## MovingOUTofFrance (Nov 1, 2012)

Horlics said:


> If you get a good property in a good area for holidays then you can make a high yield on short term renting. Then you don't have any tenants' rights to worry about.


Thanks, I am aware of this however in spain short term lettings without a commercial license is illegal, most people are doing it anyway but the govt is cracking down hard on it. Getting the licesne for short lets is not so easy from what ive heard. Sitges is a good ahort let location for the summer months, ive thought about buying something there.

I have a unique problem as a non eu person, i cant move freely around europe unless I get a resident permit based on "independent means" in one of the countries that allow it, spain, france, italy give it easily however the catch is they want u to spend over six months per year and become tax resident otherwise they dont renew it the next year, and becoming tax resident in one of these countries is not good under my personal circumstances.


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## Horlics (Sep 27, 2011)

I don't know what you mean by "commerical" license. 

Getting the lettings license is very easy.

In the Valencia community you simply have to register to receive a registration number, which you then must display on all advertisements. There are requirements that your property must meet but most will already meet them with the exception of having to display an evacuation plan on the door.

As for your unique circumstances (although I suspect you are not the only non-European national wanting to spend a bit of time there) you have a choice. Adhere to the rules of any country that allows you in, or head home.


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## Pesky Wesky (May 10, 2009)

MovingOUTofFrance said:


> Thanks for the responses, can you please tell me what exactly is the wealth tax on assets above 1 million? Is this a permanent tax or temporarily imposed?


Seriously?!
If you have that amount of money you might want to consider getting professional advice from a Spanish tax advisor AND the Spanish tax authorities. The tax authorities will even give you the info free, so you'd only have to fork out for an interpreter.
Whatever you pick up on a layman's forum it's not going to be legal and may not even be accurate therefore rendering it useless.

However, if you prefer I can advise you. I got a grade C "O" level in Maths


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## snikpoh (Nov 19, 2007)

Horlics said:


> I don't know what you mean by "commerical" license.
> 
> Getting the lettings license is very easy.
> 
> ...



Really, try telling our local office that - I gave up trying after they continually refused to help stating that I didn't need one or that they knew nothing about it!


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## xabiaxica (Jun 23, 2009)

snikpoh said:


> Really, try telling our local office that - I gave up trying after they continually refused to help stating that I didn't need one or that they knew nothing about it!


which office?


You don't need to go to an office, though, because you can download the form & take it to the correos - take it in an open envelope because they have to stamp it for you

here's the form

http://www.gva.es/downloads/publicados/IN/25082_BI.pdf


here are the guidelines of types of holiday rental

Agència Valenciana del Turisme

and here's the legislation 

Agència Valenciana del Turisme


edit - it seems that you can do it all via the internet as well!


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## 2ofus (Jan 15, 2016)

MovingOUTofFrance said:


> I have some tax queries for living in Spain as a foreigner...... get most of my income from assets I own in my country.


I too have some questions as my research about Spanish taxation keeps getting conflicting information. Can anyone recommend any accountants in Spain that specialise in expat tax matters?


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## Simon22 (May 22, 2015)

2ofus said:


> I too have some questions as my research about Spanish taxation keeps getting conflicting information. Can anyone recommend any accountants in Spain that specialise in expat tax matters?


I found a local company that is great, I would ask around locally.


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## 2ofus (Jan 15, 2016)

Simon22 said:


> I found a local company that is great, I would ask around locally.


Unfortunately I don't yet a local to look around. Can you provide any details?


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