- March 23, 2008 at 6:44 pm #53795
Hello – can anyone explain the benefits or not of Residencia? I can’t decide whether to apply or not.
Thanks in advance
- March 23, 2008 at 7:15 pm #80181
Applying for Residencia does not lose you any of your rights as a British Passport holder. It does mean that if you have your Residencia you don’t pay Capital Gains Tax if you sell your property. Likewise if you sell your property it is easier to take your money out of the country if returning to the UK or other home country. If you are stopped for a traffic offence without a residencia, the car can be impounded until you pay.
- March 23, 2008 at 7:21 pm #80182
Sounds good! My main residence is still in the UK but I intend to spend as much time as I can in Ibiza. Just a couple of questions – is it difficult to apply for? Can I work through my gestor?
Thanks for your help…
- March 23, 2008 at 7:56 pm #80183
Having the new certificate of residency alone does not exempt you from CGT if you sell your Spanish property (which has to be your main home, not a second one). Exemption is dependant on being tax resident and being able to prove it via Hacienda. Plus you have to reinvest the proceeds in another Spanish property within 2 years of selling the first. If your main home is in the UK you cannot really be resident in Spain!
It has to be applied for in person.
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