Limited 3%

Non-resident organisations which are owners or which have real estate assets in Spain are subject to non-resident income tax with a special tax due on 31 December of each year and that must be paid during the following month of January. The taxable base consists of the assessed value of the real estate assets and the tax rate is 3%.
However, there are some significant exemptions. Thus, the Special Tax is not required of:
 

1. The countries, foreign public institutions and international organisations.
2. Organisations with the right to apply an agreement with an information exchange clause and provided that the owning individuals are resident in Spain or in a country with an agreement of this type.
3. Organisations that carry out financial operations other than simple building tenancy or rental.
4. Companies listed in the officially recognised secondary securities markets.
5. Not-for-profit organisations complying with legal requirements.