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ARE YOU SELLING PROPERTY IN SPAIN AND ARE A NON-RESIDENT?

Here is some information for you to consider:

The buyer needs to withhold 3% of the purchase price and send it with “modelo 210” to the tax office within 30 days of purchase on behalf of the seller. No worry, our lawyer can do this administration. 

If you made a loss on your sale, you could ask our lawyer to help you claim back part or total of the 3%.

19% Capital Gains Tax will apply to profits for Residents Eurozone, Iceland, Norway

24% NON EU residents

OTHER TAXES

You also need to take into account that both non-resident as well as resident sellers need to pay the “Plus valia”( municipal land value tax). A tax on the increase in value of urban land from acquisition to sale (or inheritance/Donation)

In the case of non-residents, this tax will be retained by the buyer to ensure it is paid.

All non residents must also complete each year a NON resident Income tax form, number 210 for any assets in Spain. The tax must be paid by the end of the calendar year for the previous year.

You must present this tax form, regardless of whether used for commercial gain such as  renting or personal use. This is paid quarterly if you have tenants or yearly if no tenants.

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