SUMMARY OF THE MEASURES WHICH MAY AFFECT RESIDENTS OF SPAIN

The Spanish budget for 2018 was meant to have been approved in September 2017, but due to political instability in Spain and the lack of sufficient support to pass the budget, it had to be postponed.  With no 2018 budget confirmed at the start of the year, the 2017 budget was automatically extended until the new one could be approved. Continue reading “SUMMARY OF THE MEASURES WHICH MAY AFFECT RESIDENTS OF SPAIN”

CHANGES IN TOURIST LAWS TO COME

According to the draft of the new regulation of holiday rentals in Canary Islands, owners can rent their property to tourists if it meets these criteria:

Compliance Rules Regulations Guidelines Arrow Signs Diagram

– The property must be in an area defined as RESIDENTIAL (or consolidated residential area within a Tourist area, and not forbidden in municipal urban planning). Continue reading “CHANGES IN TOURIST LAWS TO COME”

COMMUNITY – Governing bodies and owner representation: Questions and answers (II)

THE FUNCTION OF THE PRESIDENT OF A COMMUNITY

The president must be an owner or the appointment will be null and void. A limited company can be appointed. The president is the person or body who represents the community  externally, and its most important individual, such that the other members of the community especially the secretary  and administrator, are required to carry out his/her administrative orders and instructions, though this does not empower him to dismiss anyone, nor to take legal action or file claims, sack employees and approve works, without  approval of the community. Continue reading “COMMUNITY – Governing bodies and owner representation: Questions and answers (II)”

COMMUNITY – Obligations of owners: Questions and answers (I)  

In this article we consider issues frequently of concern to new owners of a property in a building or complex subject to Horizontal Property rules and about which misunderstandings often cause problems with their new neighbours. Continue reading “COMMUNITY – Obligations of owners: Questions and answers (I)  “

GIFTS AND HOLDING COMPANIES: FISCAL ADVANTAGES AND PROCEDURES

Tax Word Cloud ConceptOnce we have made the decision to buy a second home in Spain, we can consider the following issues:

If one of the owners dies, are the procedures difficult? How much tax will the heirs have to pay? There are often cases where the heirs don’t have the means to go through the legal procedures and pay the taxes in their own country, and then again in Spain … and so, what do we do?

We can make two suggestions:

Continue reading “GIFTS AND HOLDING COMPANIES: FISCAL ADVANTAGES AND PROCEDURES”

HOLIDAY RENTALS

fTourism 3D cube Word Cloud ConceptThe question is: Can I rent my apartment for weekly holiday lets in the Canaries? 

Weekly rental via advertising (internet, press, estate and travel agencies, etc) is considered as a commercial rental or use other than residential, and this activity falls within the exclusive jurisdiction of the Canarian Government, for which reason it is regulated by regional legislation.

Before privately offering an apartment as touristic accommodation you must be aware that Canarian law imposes heavy financial penalties for this type of tourism operation when it is carried out illegally.  Continue reading “HOLIDAY RENTALS”