I lived in Andalucia 2001 to 2007 at which point we moved to France (and finally back to the UK). At that time I had the old NIE plastic card complete with number etc (which I still have although I realise it's probably of no use other than the number may remain valid?)
I'm now widowed and looking at moving back, at least as far as the 90 day limit allows me. I'm looking at properties somewhere around Almuñecar (we were directly inland from Malaga previously), probably a "lock up and leave" apartment with a garage so I can buy a car to leave there etc.
I realise absolutely everything will have changed as the UK is out of the EU now so I'm going to have to scrub everything I thought I knew and start afresh with info.
I have lots of questions but firstly can someone give me info on buying these days? Are there restrictions/added extras for non EU buyers? When we initially bought we managed to avoid that idea of paying a large amount in cash to avoid taxes which had to be adjusted on sale and if it's still happening I would avoid it again! My Spanish is good and we bought without an abogado before. Is that still a possibility? Is it easy to open a bank account these days? In the early 2000s the Spanish government were stopped from charging extraneros any extra CGT on sale. Have they gone back on that now?
Thanks all!
Moving BACK to Spain
Re: Moving BACK to Spain
I dont think its much difference if you want to buy as non E.U resident interms of the process but. theres higher taxes to pay as a non e.u interms of non resident tax. Opening a bank account is easy enough. Theres the 3% retentions for CGT if you sell which you get back if applicable
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- Resident
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Re: Moving BACK to Spain
You don't specify your age but, if you are over 70 I would advise you not to buy, I have been struggling with this dilemma for years and am still not convinced that it's a practical move.
I divorced some years ago and I'm financially very sound, I considered buying in Gran Canaria (where I live in the winter) I'm not rich by conventional standards but I am what's considered to be "well off"!
If you buy a property in Spain you will be paying on top of the purchase price, roughly 15% over and above the cost of the property, added to this the fact that any bequests to your family, on your death will attract a lot of taxes !
I've looked at this for a number of years and I'm still convinced that renting is, for me, the most practical solution, others may have a different view !
I divorced some years ago and I'm financially very sound, I considered buying in Gran Canaria (where I live in the winter) I'm not rich by conventional standards but I am what's considered to be "well off"!
If you buy a property in Spain you will be paying on top of the purchase price, roughly 15% over and above the cost of the property, added to this the fact that any bequests to your family, on your death will attract a lot of taxes !
I've looked at this for a number of years and I'm still convinced that renting is, for me, the most practical solution, others may have a different view !
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- Andalucia Guru
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Re: Moving BACK to Spain
Agree somewhat with Manchesteral, all said and done it's very easy to buy a property or anything if it comes to that, there is also maintainence thrown in, when it comes to sell it can take several years unless you are very lucky.
Re: Moving BACK to Spain
The inheritance tax rates for andalucia are very high for immediate family so not really an issue for the O.P.
Tbh if you are older and you are just looking for somewhere for 90 days then tbh i dont see the point of buying. its alot of hassle and cost when theres so many winter lets available compaired to years back. You have to pick a good area interms of thinking of re sale. Properties go like hot cakes where i am its the old location,location...
Tbh if you are older and you are just looking for somewhere for 90 days then tbh i dont see the point of buying. its alot of hassle and cost when theres so many winter lets available compaired to years back. You have to pick a good area interms of thinking of re sale. Properties go like hot cakes where i am its the old location,location...
Re: Moving BACK to Spain
I think Manchesteral is probably right depending on your age. Uncertain times too. If I did it I would rent out mu UK property. get a better rental return and cheaper to rent in Spain.
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Re: Moving BACK to Spain
Getting back to this subject I pay 7200 euros per year for my apartment in Las Palmas which covers rent, water and electricity (although my landlord has emailed me to say that we will need to have an in depth discussion about the cost of utilities when I get back there) this arrangement suits me very well as I can flit backwards and forwards (not at the moment though) at will. The last time I spoke with my Spanish accountant regarding buying in Spain he told me that in this very uncertain financial climate it would be at least 10 years before I covered my capital outlay so I will continue to be a renter !
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