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News about the Cédula de Habitabilidad

Dear Customers, since 27 June 2018 notaries have been obliged to check the existence of the certificate of occupancy (Cédula de Habitabilidad) in the notary purchase certification of a property. The fact of the absence is expressly stated in the contract and the buyer must agree in written form that … Continue reading

Filled under : Ibiza Real Estate , Legislation , News
Author : lasanclas
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What is the Cedula de Habitabilidad

Cédula de habitabilidad (Certificate of Occupancy) WHAT IS THE CEDULA DE HABITABILIDAD? This is a certificate of occupancy, a document the size of a postcard which provides evidence that a property has been built according to technical regulations and has also been accepted after inspection. Only with evidence of this … Continue reading

Filled under : Ibiza Real Estate , Legislation
Author : lasanclas
Comment Number : No Comment Yet

CHANGE IN LAND TRANSFER TAX SINCE JANUARY 2016

LAND TRANSFER TAX (Impuesto sobre Transmisiones Patrimoniales) When buying real estate, which is not composed of new buildings, you have to pay a Land Transfer tax (Impuesto de Transmisiones Patrimoniales). This tax is payable within one month after the signing of the public sales-purchase deed (escritura de compraventa) and is … Continue reading

Filled under : Ibiza Real Estate , Legislation , News
Author : lasanclas
Comment Number : No Comment Yet

Taxes and costs when selling real estate in Ibiza

1. Income tax (capital gains tax) for the seller Capital gains such as profits produced by way of the sale of real estate property in Spain are subject to the Spanish income tax. Calculation of the benefits of the sale This profit is calculated from the difference between the price … Continue reading

Filled under : Ibiza Real Estate , Legislation
Author : lasanclas
Comment Number : No Comment Yet

Adoption of the New Land Law

AMNESTY FOR BUILDING VIOLATIONS As announced last year in our blog about Amnesty for Building violations, the long-awaited Development Plan’s new Land Law has been voted on by the Island Council of the Balearic Islands Government with an absolute majority and was adopted in March 2014. As soon as it … Continue reading

Filled under : Ibiza Real Estate , Legislation , News
Author : lasanclas
Comment Number : No Comment Yet

Taxes & Purchase Costs When Buying Property In Ibiza

– GENERAL Foreigners wishing to buy or sell a property in Spain must be in possession of a tax identification number (Número de Identificacion para Extranjeros), NIE number in short. 1. LAND TRANSFER TAX (Impuesto sobre Transmisiones Patrimoniales) When buying real estate, which is not composed of new buildings, you … Continue reading

Filled under : Ibiza Real Estate , Legislation
Author : lasanclas
Comment Number : No Comment Yet

Real Estate Purchase Contracts In Ibiza

GENERAL: Although there is no legal obligation in Spain to have sales-purchase contracts notarized, it is nevertheless highly recommended to do so. When buying real estate a private contract is usually signed before issuing the public sales-purchase deed (escritura de compraventa). In general there are three types of written sales … Continue reading

Filled under : Ibiza Real Estate , Legislation
Author : lasanclas
Comment Number : No Comment Yet

Public Sales – Purchase Deed Ibiza

escritura de compraventa GENERAL The so-called “escritura” is a purchase contract signed before a notary. It is not an indispensable requirement for the transfer of ownership, but necessary for the registration in the Spanish Land Registry (Registro de la Propiedad) and also highly recommended. The Spanish notary certifies what the … Continue reading

Filled under : Ibiza Real Estate , Legislation
Author : lasanclas
Comment Number : No Comment Yet

Land Registry Ibiza

WHY LAND REGISTRY (Registro de la Propiedad)? In Spain, real estate can effectively be acquired by signing only a private contract, without entering it into the Spanish Land registry (Registro de la Propiedad). However, the registration in the name of the buyer is highly recommended, as with regard to third … Continue reading

Filled under : Ibiza Real Estate , Legislation
Author : lasanclas
Comment Number : No Comment Yet

Gestorias In Ibiza

WHAT IS A “GESTORIA”? The term gestoría derives from gestor, which translates as processor, operator, manager. The company managed by a “gestor” is known as a Gestoría. Due to Spain’s very complex bureaucratic system, almost impenetrable for foreigners, Gestorías help you to find your way in this administrative jungle. In … Continue reading

Filled under : Ibiza Real Estate , Legislation
Author : lasanclas
Comment Number : No Comment Yet

Getting An NIE Number In Ibiza

WHAT DOES N.I.E. MEAN? The NIE (Número de Identificacion para Extranjeros) is a tax identification number for any foreigner who does not have the Spanish nationality but would like to do business in Spain. This includes, for eg. buying or selling real estate or vehicles, bank transactions, etc. WHAT DO … Continue reading

Filled under : Ibiza Real Estate , Legislation
Author : lasanclas
Comment Number : No Comment Yet

Amnesty for Building Violations

On 13th September 2013 the Ministry for Environment and Development of the Balearic Islands adopted the submission of a new law which would provide an amnesty for past violations of the building laws outside built-up areas in the Balearic Islands. This new law would affect unauthorized extensions which are demonstrably … Continue reading

Filled under : Ibiza Real Estate , Legislation
Author : lasanclas
Comment Number : No Comment Yet

Changes in Spanish tax legislation as of 2013

TAX INCREASE Right at the beginning of 2013 tax increases were approved by the Spanish Government and the Government of the Balearic Islands which equally relate to resident and non-resident property buyers and owners: Real estate transfer tax for buyers  The new tax rate is between 8% and 10% and, … Continue reading

Filled under : Ibiza Real Estate , Legislation
Author : lasanclas
Comment Number : No Comment Yet