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Purchase of Property
The essential services which we would carry out would include:
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Negotiating and advising on the terms of
the Purchase Contract and on occasions preparing the first
draft. |
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Land Registry and Town Hall searches to
cover title ownership and planning plus raising preliminary
enquiries. |
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Applying for or advising on procedure relating
to fiscal number (known as "N.I.E") |
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With new properties advising in relation
to Bank Guarantees (to secure stage payments) and construction
guarantees. |
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Prepare Power of Attorney (where required)
and instruct carefully chosen local lawyer to attend to
completion and registration. |
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Provide full details of fees and taxes payable
on the purchase of a property. |
VAT
VAT is not charged on our fees for the purchase of property
in Spain, Portugal and Caper Verde. However, it is likely
that VAT will be payable on our fees for any advice given
by our tax and estate planning specialists and for preparing
Wills.
Taxes and Expenses post-completion
We provide clients with guidance in respect of the following:
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Income Tax and Wealth Tax by way of self-assessment
annually |
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Council tax (known as "I.B.I")
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Community fees where the property is a flat
or part of a community of owners. |
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The usual utility contracts (electricity,
water etc) |
Wills and Inheritance
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Advice in relation to Spanish Inheritance
Tax will be provided at an early stage as it is very relevant
to the question in whose name or names should the property
be bought. |
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To avoid the likelihood of extra expense
and delay on death, it is sensible to make a Spanish Will
dealing exclusively with your assets in Spain. We are
able to draft a Spanish Will for you in the most tax efficient
way. The Will can be signed before a Notary Public in
the UK and thereafter, we would effect the necessary registration
at the Central Registry of Last Wills in Madrid. |
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