Reply To: Help me decide…

#85888
Anonymous
Participant

My advice is

1. – Stay clear of any off-plan developments no matter how attractive it might sound – probably never be completed or never get first occupation licence – and you don’t need the hassle!

2. – Look for well established and well run communities – reviewing minutes of AGM and speaking to other residents will help you.

3. – It’s a buyers market and don’t let anyone talk it up. Prices are down 20% to 50% on where they were 12/18 months ago and there are some absolutely desperate sellers out there. Some are living in false hope and hoping for a recovery but in another few months time they should be seeing sense.

4. – I don’t see any reason at all to use estate agents. Private sales and word of mounth work best – that way you have more negotiating power with no estate agent taking a mega commission for absolutely nada!!! Afterall you say you are no stranger to Spain and you seem to have some knowledge of the area.

The whole company idea is rather complicated but I would not recommend putting what is really a personal asset into a UK company.

Also is it your intention to buy it directly through a UK company, or set up Spanish subsidiary company or branch office of a UK company. There are different tax implications to all these scenarios and also from what you say you will be running a business in spain in that you will be earning income from a Spanish based asset.

You need to take proper tax advice here and also involve your UK accountant. Be careful of any Spanish tax advisor as many seem to advice on overly complex structures which really only serve to earn them extravagent set-up and on-going fees!!