Tax, succession, real estate investments... in Spain
Advisory services for Belgians in Spain, from Belgium and Spain
A villa at one of the Spanish Costas is an attractive image for many of us: beautiful landscapes, historic cities, a rich culture, fabulous food, sophisticated wines, historical parades, numerous golf resorts, a good infrastructure, not too distant from Belgium, thousands of kilometres of beach and more than anything else, a place to relax in the sun.. Thinking of buying a property in Spain? Or planning on temporarily moving to Spain or settling there permanently? Or are you looking to start up another business in Spain?
Decisions like this have major knock-on effects in many areas. For example from a tax and legal perspective in the broad sense, practical and organisational aspects of asset management and succession planning: Baker Tilly can provide you with a full range of services via a single point of contact.
We have a permanent presence both in Belgium and in Spain as chartered accountants and tax specialists. We can tailor our service offering to provide you with the best personal support. Your only point of contact will be with us – we will take care of communication in Belgium as well as Spain. No communication problem between Belgian and Spanish specialists: everything runs via a single Dutch-speaking point of contact. Clear-cut, 100% efficient and trustworthy.
For all these matters and more, it is key to be prepared. After all, every situation is different. It is important to plan properly how your plans will be organised.
Relevant questions are :
- Will the purchase be done privately or via a company?
- What areas should I pay attention to?
- Do I have to pay tax in 2 countries?
- What if I also rent out my second residence?
- Can I introduce interest charges?
- And the tax return?
- What are the consequences if I become a resident in Spain? Is it true that I pay less or no taxes?
- Will I be taxed in Spain or in Belgium?
- Can I settle in Spain before I officially reach pensionable age?
- How will my group insurance be taxed?
- Can I just start a business?
- Is there a lot of red tape?
- Would it be better to set up a permanent establishment with my Belgian company, or would a Spanish company more appropriate?
- Is it financially attractive for my Belgian company to invest in Spain? How does corporation tax work?
- What are the practical and organisational aspects of asset management and estate planning?
- Will my heirs have to pay inheritance tax in Spain and in Belgium? Is usufruct a good solution?