Reply To: Rip off Britain

#83945
Anonymous
Participant

@El anciano wrote:

I was under the impression that you needed to be resident in Spain for 10 years or more to be eligible for citizenship

Correct – at the time I had 11 years under my belt and this November that will be 16.

@El anciano wrote:

If so, I’m not sure how you’d prove it these days, now that the residents cards have gone and we have the silly yellow piece of paper

I had to prove my wife was a resident last year, when we sold our old home. We hadn’t bothered to renew her residents card, waiting for the silly bits of paper to be fully operating here. The notary accepted copies of the previous three years tax returns with receipts for payment of tax due as proof of residency.

@katy wrote:

Didn’t realise that tax dodging was so easy

No tax dodging as such – just a deferment. One day the asset will be liquidated (possibly this winter) and then CGT (along with various company taxes) will need to be paid. What I didn’t want, when I took that citizenship, was to pay CGT on an asset that was still owned and also pay too much of a divorce settlement – would have ended up having to borrow a substantial sum! In fact, if it had only been a tax thing, it would not have been efficient as it will cost me about 5% extra in taxes when I sell compared with what it would have done when I made the changes, but saved me nearer 35% of the value elsewhere!!