y wife and I are coming to stay the end of April. We were going to make an early application for residencia but it now seems as if this will be unecessary. Are the Spanish Authorities likely to implement this ?
We have had a house at Torrevieja since 2001, coming here for a few months each year since.
My wife has talked of upgrading our house when I am of pension age (now) and can spend much more time in Spain.
However we did not want to lose out on the capital gains tax, which would have meant getting residencia then selling after 3 years to qualify for the lower rate of tax on any "profit" made from the sale. The non residents rate of tax could mean paying 20K more.
My big question is :-
If after April 2006 we are automatically residents after 6 months would we pay the residents lower rate on capital gains and would there be any time lag or alternative bureaucratic hurdle to qualify ?
Dave - Carlisle
We have had a house at Torrevieja since 2001, coming here for a few months each year since.
My wife has talked of upgrading our house when I am of pension age (now) and can spend much more time in Spain.
However we did not want to lose out on the capital gains tax, which would have meant getting residencia then selling after 3 years to qualify for the lower rate of tax on any "profit" made from the sale. The non residents rate of tax could mean paying 20K more.
My big question is :-
If after April 2006 we are automatically residents after 6 months would we pay the residents lower rate on capital gains and would there be any time lag or alternative bureaucratic hurdle to qualify ?
Dave - Carlisle
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