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Spanish residents

If you pay taxes in the UK then you are a non-Spanish resident. IOW you're a resident of the UK, therefore not of Spain.

There are pro's and con's, advantages and disadvantages. The most important pro might be the leaving of the country of "rules and regulations" but make no mistake, the European Union is reigning in Spanish liberty.
Many European laws do now also apply to Spain. Several legal procedures have been undertaken to force Spain to comply with EU law faster than the Spanish government intents to.

Being a resident of Spain has its advantages as far as taxes are concerned because there certain taxes have a tax-free limit. The interest rates however, don't differ that much anymore. Where you can get an advantage is in not declaring income. That's still easier there but Spain is very busy reorganizing its revenue department.

The buying and selling of houses in Spain is rife with fraud. Malevolent men are always on the try to rip of ignorant foreigners. When it comes to tax evasion Spain has almost the same rules in place as the UK but in reality things differ significantly.
It's not rare for a notary to cooperate in listing a lower amount in the Escritura, the difference is usually 10 to 20%.

Advantage to the buyer: you don't pay transfer tax!

Advantage to the seller: You pay less plus valia and income tax!

Never say in hind view: "I just didn't know!"

HipoteCasa will enable you to look before you leap and save you from expensive mishaps!

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