Costa Med Consulting

Obtaining the new TIE – Spanish Residencia Card

It is now possible to apply for the new TIE cards in Alicante, Torrevieja and Elche. We have a variety of options to assist you in obtaining yours.

Buying and Selling Your Property in Spain, Explained

Selling Property in Spain

Once you have decided to sell your property you may want to return to your home country and appoint a representative to complete everything on your behalf.

Our service includes:

  • Liaising with the selling agent or buyer directly to prepare the purchase contract and ensure all relevant clauses are included.
  • Manage receipt of deposit.
  • Attend the signing of the Title Deed and give a verbal translation of the document.
  • Ensure payment of any taxes retained on your behalf (non resident).
  • Cancel standing orders, policies and direct debits.
  • Close bank accounts and arrange transfer of funds to your desired location.

Do not forget that there are always costs involved in selling, for example capital gains tax, plusvalia tax, and agents fees.   We will advise you and give you an estimate for the complete cost of the sale.

As a Non Resident, selling property in Spain the purchaser will according to Spanish law retain 3% of the Title Deed value as a payment on account for the vendors possible capital gains tax, this amount is paid into the Spanish tax authorities.

Sometimes the capital gains tax can be lower than the 3% retained and the balance will be returned to an appointed bank account.

We are able to prepare, calculate the tax and present the declaration on your behalf.

The conveyancing cost is very low compared to your reassurance and peace of mind knowing that all business has been completed correctly, taxes have been paid and that you are compliant with the Spanish law.

New European laws mean that if they want to, the Spanish authorities can contact you in your home country for any outstanding debts.

Buying Property in Spain

Once you have you have found your ideal property, the next stage is to appoint a representative to guide you through the process.

Our service includes:

  • Carry out searches on the property to find out if there are any registered debts.
  • Liaising with the agent or owner to prepare the purchase contract to ensure all relevant clauses are included.
  • Manage payment of deposit.
  • Set up the Notary appointment for the signing of the title deed, by law the purchaser has the right to choose the notary office.
  • Attend the signing of the Title Deed and give a verbal translation of the document.
  • Ensure that the Title Deed is properly registered.
  • Change over utility services and set up direct debits.

Do not forget that in addition to the property price you have been quoted you always need to add an amount for the different expenses.

For example VAT, property transfer tax, notary and registration fees, we will advise you and give you an estimate for the complete cost of the purchase.

When buying a property in Spain the conveyancing cost is very low compared to your investment and if the property has not been checked properly for any debts it can become a very expensive experience for you.

Spain has a very good system in place with laws to protect you when buying property in Spain but it can appear very complicated and daunting when you do not know the language or your way around the Spanish authorities and offices.

CostaMedConsulting is a service company for clients requiring help and advice with matters relating to the ownership of a property in Spain.

We cover the areas of Costa Blanca and Costa Calida, from Alicante in the North down to Mazarron in the South including the inland areas, forming a triangle (areas like Roda Golf, La Tercia, San Javier, Rojales, Quesada, Los Montesinos, Guardamar del Segura etc.) in this beautiful part of Spain. Our office is manned mainly with English speaking staff but we also have staff attending our large clientele within the Scandinavian countries. We have many years of experience of living in Spain and the “jungle” of bureaucratic matters, which the ownership of a Spanish property entails.

Referendum information for Expats

A new webpage has been launched following the referendum providing information to expats in Europe.

New SIP Medical Cards

The Valencia Health Service known as the SVS, will be issuing new medical cards for all residents in the region, people will start to receive the new SIP medical cards as of June 2016.

Donating your body to Medical Science

Many of our clients who make Spanish Wills tell us that they have joined the register to donate their bodies to medical science upon their death, which initially sounds like an amazing thing to do, very easy, straight forward and hassle free.

IBI and SUMA Explained

IBI stands for Impuesto sobre Bienes Inmuebles urbana/rustica and is due for payment by all owners of a property in Spain regardless if it is your permanent residence or a holiday home, even if the property stands “empty” you are still obliged to pay this tax!

Suma Payments and Increases

MORE than 16 municipalities in the Alicante Province are currently under the Finance Ministry’s scrutiny to find properties which fail to pay the correct local tax (IBI/SUMA). Some of the municipalities located in Alicante area are Orihuela, Pilar de la Horadada, San Miguel de Salinas, and Torrevieja.

European Law and Spanish Wills

Many of our clients have contacted us recently worried about Spanish wills and the new EUROPEAN law regarding probate proceedings and its changes that are applicable from the 17th of August 2015, for this reason we decided to write about the matter and give you some important information.

Spanish banks are verifying identification

Spanish banks are now checking clients identification, if you have received a phone-call act now before your account is blocked!

Driving Licences in Spain

If you are living in Spain permanently and have a UK driving licence, from 19th January 2015 you could be fined up to 200€ for not having the correct licence.