Tax withholding without NIE

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14 Sep 2020 11:48 by brachap Star rating. 2 posts Send private message

I do not reside in the EU and I do not have a Spanish NIE. That said, I have been considering investing in Spain, via funding to local businesses (real estate developers). I understand that by Spanish law, interest on loans given to local businesses, is taxable at the source and requires the business to withhold the taxes, before forwarding the interest to the investor. My question is: how can this be done, if I do not have a NIE? Will my Passport suffice or am I blocked from performing such an investment, without a NIE?

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14 Sep 2020 13:42 by baz1946 Star rating. 2211 posts Send private message

Real Estate? Are you American by any chance? If so don't you get news of the house building problems in Spain that you wish to invest in? Bad enough putting money into a Spanish bank let alone a house building project.

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14 Sep 2020 17:03 by Kavanagh Star rating in Oil Drum Lane Newcas.... 1015 posts Send private message

Kavanagh´s avatar

You would need to set up an offshore company somewhere like the Gambia, Africa.

There is enough in the world for everyone, but not enough for the greedy!

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30 Oct 2020 08:17 by brachap Star rating. 2 posts Send private message

Thank you, @Kavanagh. Would you mind elaborating a bit, as I am not sure how this would work and what is the difference, in this regard, from a private person, living in a non-EU country and an offshore company?

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