Frequently asked questions (FAQ)

We will try here to answer a few questions about your obligations when you are owner of a property in Spain.

Licenses & Regulations

Resident or non resident?
Basically you have to consider three factors to determine if a person is a tax resident in Spain:

- Permanence. The stay in Spanish territory for more than 183 days a year, unless the taxpayer certifies a residence tax certificate in another country.
- Economic links. It is considered the territory where the person has his base of activities and will be interpreted as the place from which 51% of the income is generated.
- Personal links. If your spouse and minor children are financially dependent on you, and they reside in Spain, you will also be considered a tax resident in Spain.
Non residents obligations
Property expenses
Below we detail the fixed costs of having a property in Spain.
Almost all payments can be made at your bank, which is highly recommended, especially if you do not reside in your home permanently.

- Supplies: Light, water, telephone, internet, etc. The most usual is to pay monthly, although some such as water can be bi-monthly or even quarterly.

- IBI + Garbage: It is a tax that is paid annually to the municipality. It is calculated on the cadastral value of the house. Depending on the municipality, the garbage tax may be included in the IBI.

- Community: If your property is located within a community of neighbors you must pay a community fee. This payment can be monthly, quarterly or even annual, depending on the community statutes. It is very important to check the delinquency rate of a community before buying a property.

- Non-resident income tax: As the owner of a home in Spain, you are required to pay this tax, even if you do not use your home for rent.
Do i need an accountant?

Sales & Rentals

I want to buy a property, what are the purchase costs?
Basically if you buy a second-hand property in Spain, you have to add approximately 10% of the cost to the purchase price.
These expenses are the ITP (Property Transfer Tax), notary fees, property registration and your lawyer's minutes (1% of the purchase value).
What are the steps to proced with the purchase?
Do i need a lawyer or accountant?
Recommendations after the purchase
I have a property in Spain and i want to rent it out. What can i do?
You have two options:

Long term rental or vacation rental. It depends on if you are going to enjoy the property for some time, if this is your case, you should lean towards a vacation rental.
If you do not plan to use your property for a long time, you may be interested in a long-term rental.

In both cases it is advisable to leave it in the hands of a professional company that is responsible for its management.
What is the regulations for rentals?
Do i need an insurance?
What can i do to get more income?

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