Make The Most Of Your Investment: Purchase Spanish Property
When buying a property overseas there is more to consider than just finding the right property in the right location at the right price. More and more British residents are purchasing second properties in Spain, but not many are fully informed of the best way in which to purchase their property and the effect that may have on their investment. Purchasing Spanish property may increase liability to either inheritance tax or capital gains tax, or even both, producing a hefty tax payment on top of the purchase costs, which are considerably larger than those in the UK.
Using a corporate structure to buy Spanish property can help get rid of these tax liabilities. Corporate purchasing does also provides other advantages, including lower legal fees and stamp duties, therefore making the resale of your Spanish Property that much easier. Let me begin to explain.
Spanish Inheritance Tax. People that are domiciled in Britain and/or British resident are liable to 40% inheritance tax on the total value of their global assets which have a value greater than