IS BREXIT GOING TO AFFECT PROPERTIES OWNED BY BRITISH IN SPAIN

IS BREXIT GOING TO AFFECT PROPERTIES OWNED BY BRITISH IN SPAIN

Absolutely not. The ownership of property in Spain by British owners is not going to be affected in any way, due to the Brexit. The taxes and expenses when buying the property are going to continue being…

Absolutely not.

The ownership of property in Spain by British owners is not going to be affected in any way, due to the Brexit.

The taxes and expenses when buying the property are going to continue being exactly the same: 8% purchase tax, or 10% IVA (new properties), notary fees, land registry fees, and solicitor fees.

While the property remains under your ownership, you’re going to continue to pay exactly the same taxes as you paid before Brexit, that is:
1. Council tax (IBI), yearly
2. Garbage collection, yearly
3. Non-resident tax, once per annunm, if applicable

Consequently, any British prospective buyers, should not have any worries at all regarding purchasing a property in Spain now or even after Brexit, as the separation of the United Kingdom from Europe will not affect their purchase in any way.

If you need more information for your specific case, please contact us. info@igleas.com

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