burberry

Hi,

Just wondered if someone can give me a bit of advice? I have owned a property in Spain for almost 10 years ( don't rent it out so don't get any income from it) I did not take out a residencia when we bought the property, but a couple of years ago I was advised to take out residencia in Spain because I was told if I ever came to sell the property I would save around 5% in taxes? So both myself and my wife took out a residencia some years ago which expired in 2011, what, if any,are the advantages (or disadvantages) of taking out a residencia? We both live and work in the UK.
Please help!

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You appear to have had bad advice

You cannot be resident if you live in the UK-how did you sign on the foreigners register(it's no longer residencia) ? you cannot have satisfied the conditions

Even if you don't rent it out you have to pay imputed income tax in Spain, and IBI  on it

Did you not research non resident taxes-loads of info online?

 

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Hi Camposol,

We pay all the taxes IBI and the ''wealth tax'' on the property, so that's not an issue, when we took out the residencia we went to the Police Station in Cartagena with a friend who spoke Spanish and handed over the form, a couple of photographs and I cannot remember how much it was but it wasn't a lot of money, we then had to go collect the ''Extranjeros'' cards from the police station when we returned a few months later, I have just dug my old card out and it has my name and Spanish address on the front and my finger print on the back of the card, also on the front of the card it says ''Regimen Communitario'' is this not a residencia card?

 

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Burberry-you say you pay all the taxes on your holiday home-do you pay imputed income tax?

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