The cost of the processing of documents to buy a property in Spain:
The cost of legal advice, assistance, translation, declarations, all the paperwork for the purchase, and checks is 3% including NIE and Residence Permit for Investor.
To obtain an Investor Residency Permit:
Investment over € 500.000 gives the option to obtain Investor Residency Permit. Other requirements: health insurance and financial resource.
Tax considerations for non-residents in Spain:
The performance will declare the amount resulting from applying the assessed value of the property contained in the receipt of Real Estate Tax (local tax), the following percentages:
In general 2%
In case of property with revised or amended from January 1, 1994 assessed values, 1.1%
TAXATION
You are taxed on the tax base, without deducting any expenses.
The tax rate is 24% (24.75 % since January 1, 2012 until December 31, 2014, inclusive).
For example:
A property that has a rateable value of amount of € 150.000.-, multiply 2% = € 3.000.-,
Of this amount would calculate the 24.75% = 742.5, the tax income of non-residents, to be held annually settled.
Sale of property being Resident in Spain
If reinvestment is made shall be exempt. If it were not be taxed at 21% for income earned.
And non-resident
Be taxed at 24% of revenues, being held to account for 5% of sales value in the notary own, and requesting a refund once the declaration of sale of real property by non-residents.
Taxes for residents in Spain. It will continue the following parameters:
Taxable general
base |
Gross tax state |
Rest taxable
base |
Applicable type |
0,00 |
0,00 |
17.707,20 |
12,75% |
17.707,20 |
2.257,67 |
15.300,00 |
16,00% |
33.007,20 |
4.705,67 |
20.400,00 |
21,50% |
53.407,20 |
9.091,67 |
66.593,00 |
25,50% |
120.000,20 |
26.072,88 |
55.000,00 |
27,50% |
175.000,20 |
41.197,88 |
125.000,00 |
29,50% |
300.000,20 |
78.072,88 |
onwards |
30,50% |