What are the new guidelines for purchasing property in Spain?
by Liz Seyi Digital marketing managerSo eventful have the last few months been for
many of us, that it might feel strange to be reminded that the Brexit
transition period – based on an agreement between the UK and the European Union
(EU) – only actually ended less than a year ago.
If, though, you are a UK national
who would like to buy a house in Sotogrande, you might be unsure of how the legalities
and practicalities around this have changed since the conclusion of the UK’s
‘EU era’.
The good news is that a lot less
has changed than you might think! The “rules” governing your right to buy a house in
Sotogrande and use it as you wish are, in fact, basically the
same.
How Brexit has altered – or not altered – the
situation for would-be buyers of Spanish property
First of all, the UK’s departure
from the EU has not affected Britons’ entitlement to purchase property in
Sotogrande or anywhere else in Spain. The Spanish government does not put in
place any rules preventing nationals of non-EU states from buying property in
Spain.
Quite the opposite, in fact – the
Spanish authorities are continually trying to encourage prospective buyers from
around the world to invest in property here, through initiatives like the
Golden Visa scheme.
OK, so what about the fees you’ll
need to pay if you do get serious about buying Sotogrande property? Again,
little has changed in this regard. Broadly speaking, the fees that must be paid
by the purchasers of Spanish property include the likes of the purchase tax,
notary’s fee and the property registry fee, and this is the same for both EU
and non-EU nationals.
What about the rules once you actually own a
home in Sotogrande?
This is where there might be some
meaningful change for you, compared to how things would have been prior to
Brexit – but again, not as much as you may imagine.
Brexit doesn’t, for instance,
impact on your right to rent out any Spanish property you own. It does, though,
mean your rental income tax will be higher as a non-EU citizen, compared to if
you were an EU one.
Finally… what about your ability
to physically get to your Spanish property, whether for some or all of the
year? This situation has naturally been complicated by the ongoing COVID-19
pandemic, and the rules for entry from the UK may change at short notice; we
would therefore urge you to consult the
latest foreign travel advice at GOV.UK.
Putting aside the coronavirus
crisis, the broad state of play is now as follows: you will not require a visa
in order to travel to the Schengen area – including Spain – for up to 90 days
in any 180-day period. If you wish to stay for longer than this, you will be
subject to the Spanish government’s entry requirements.
Get started on your search for Sotogrande
property now
There’s naturally a lot to think
about if you aspire to buy a house in Sotogrande; for many Britons, however, it
might be the COVID-19 situation that has a more dramatic effect on their lives
between the UK and Spain than Brexit. To begin your search for highly
prestigious and desirable Sotogrande properties, why not take a look at
our latest listings online today?
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Created on Feb 21st 2022 06:11. Viewed 215 times.