Solving the English Probate Puzzle for Spanish Property Owners
Navigating English probate for Spanish property causes friction in Spanish notarial and registration practice for one simple reason: the two systems start from opposite assumptions about how to prove a valid succession. Understanding the complexities of English probate for Spanish property is essential for any executor or owner looking to avoid lengthy legal delays. In England and Wales, a […]
Substance Over Structure. Redefining the Boundary Between Tax Abuse and Simulation in Spain
On 28 January 2026, the Spanish Central Economic-Administrative Tribunal (TEAC) issued a unification decision (00/09964/2023/00/00) that clarifies, in unequivocal terms, the legal boundary between two distinct anti-avoidance doctrines that have long troubled cross-border tax planning. The decision addresses the relationship between simulation of transactions under Article 16 of the Spanish Tax Law (Ley General Tributaria […]
Britain’s Closest Cousin? Why Spain Is More Familiar Than You Think
Here’s a question that might make you spit out your tea (or café con leche): Which country is most similar to Britain? If you guessed Denmark, Sweden, or perhaps Canada, you’d be in good company, but the reality points in a different direction. According to The Economist’s recent analysis of OECD countries, the answer is […]
Spain Finally Levels the Playing Field: UK Landlords Can Claim Rental Deductions Too
Spain’s National Court has rocked the world of Spanish real estate taxation with a decision that stands to benefit thousands of non-EU landlords and international investors. In July 2025, the court extended a vital right, previously reserved for EU/EEA taxpayers, to non-EU residents, allowing them to deduct expenses directly tied to their Spanish rental income […]
Spain Confirms English Law Applies Without Probate in Cross-Border Succession: Key Resolution for STEP Practitioners
A groundbreaking resolution from Spain’s Directorate-General for Legal Security and Public Faith, issued on 4 August 2025, has provided crucial clarification for STEP practitioners managing cross-border estates between the UK and Spain. This decision establishes clear precedent that English law can govern Spanish asset inheritance through implied choice of law provisions, eliminating the need for […]
Debunking myths about wealth and Spanish tax residency
Debunking myths about wealth and Spanish tax residency. Spanish tax expert León Fernando del Canto argues that Spain can be an attractive tax jurisdiction for wealthy foreigners who know how to manage the system. “Don’t let the tax tail wag the dog,” my mentor Tony used to say back in 2000. During that time, he was […]
The impact of Golden Visa on Spain’s real estate landscape #movingtospain
The impact of Golden Visa on Spain’s real estate landscape. In the 3rd quarter of 2023, Spanish real estate experienced a notable surge in foreign demand, particularly fueled by the allure of the Golden Visa The foreign buyers’ market share increased to 20.2%, marking the highest level on record since Q3 2015. The resilience of […]
10 compelling reasons to buy in Sotogrande
10 compelling reasons to buy in Sotogrande. Buying a new home can be one of the most significant decisions you’ll ever make, but it doesn’t need to be the most difficult. If you are looking for a holiday home, investment or permanent residence, in Southern Spain’s Costa del Sol you´ll find apartments, townhouses and villas, […]
Moving to Spain from the UK in 2021
Moving to Spain from the UK in 2021. Spain has long been a favourite destination for Britons seeking a life abroad with around 360,000 registered as permanent residents. Following Britain’s exit from the EU, the rules for admission have changed, and those looking to move to the sun will need to ensure they have the […]
The benefits of relocating to Ibiza
Del Canto Chambers has written an article in top wealth management publication, Wealth Briefing, explaining how the pandemic has prompted high net worth individuals to consider their options. Del Canto Chambers explains too the advantages of settling in Ibiza. The UK’s separation from the EU combined with the pandemic and subsequent lockdowns have given reason […]
Living in Ibiza and paying the right taxes
Living in Ibiza and paying the right taxes. Property Taxes and Legal issues in Ibiza – non-Spanish residents living in The Balearics Islands need to be aware of Spanish legal and tax considerations that could affect the value of their homes, the wealth in their Spanish estates and their ongoing tax liabilities. Local Ibiza Property […]
Last call for buyers of off-plan properties in Spain
If you have purchased an off-plan property in Spain before the 1st of January of 2016, this might be your last chance to claim back your deposit and other amounts paid on not delivered Real Estate developments. Deadline for claiming back off-plan property deposits The 7th of October of 2020 will be the 5th anniversary […]
Justice on the Costa Del Sol
Justice on the Costa Del Sol. Mortgage contracts on Spanish properties have been a headache for British borrowers for some years now, due to the abusive nature of Spanish bank clauses in relation to a specific mortgage clause on residential homes known as a Floor Clause (Cláusula Suelo), IRPH and mortgage expenses. Jurisprudence at European […]
Mortgage expenses “to be refunded in full”, says the European Court of Justice
Mortgage expenses “to be refunded in full”. Once again, the ECJ corrects the jurisprudence of the Spanish Supreme Court, on this occasion with regards to the mortgage expenses and the mortgage opening fees. A judgement has been handed down in the Court of Justice of the European Union (CJEU) on 16th July 2020 relating to several issues […]
Spain's back to normal, slowly but surely
Spain’s back to normal, slowly but surely. It is three months since the lockdown began and there has now been some lifting of restrictions in Spain’s reopening plan. Starting 21st June, life will be easier for people living in and travelling to Spain. We outline here what the easing of restrictions could mean for you […]
The European Court of Justice ruling on IRPH Spanish mortgage loan clauses
The European Court of Justice ruling on IRPH Spanish mortgage loan clauses. The court handed down judgment on 3 March 2020, granting consumers affected by the index reference for mortgage loans (IRPH) a new chance to claim against Spanish banks. An alternative to Euribor, the IRPH is a mortgage indicator for interest rates applied in […]
Sting in the tail for Spanish property buyers
Sting in the tail for Spanish property buyers. It was recently reported that over 5,000 properties in Spain are owned by international investors, the majority of which are UK residents. In the late 20th century, buying real estate in Spain via international corporate structures was a popular way of reducing tax liabilities, writes international tax […]
The Parliament of Andalusia approves a Decree to legalise 300,000 illegal properties in the Andalusian Community
Parliament of Andalusia approves a Decree to legalise illegal properties. The Andalusian Regional Government approves a Decree to put an end to over 300,000 properties that were built outside the urban land legislation. The objectives according to a Government source is to regularise properties in illegal situation, giving them more environmental protection and simplifying the […]
Spanish Tax Authority Looks at Foreign Property Owners
Spanish Tax Authority Looks at Foreign Property Owners. International tax barrister Leon Fernando Del Canto discusses the growing interest of the Spanish tax authorities in ownership of properties through international corporate structures. The authorities have a number of new tools to investigate these structures, and property owners need to ensure they are compliant with the […]
Spain cracks down on 'aggressive tax planning' by foreign property investors
Spain cracks down on ‘aggressive tax planning. “There are more than 5,000 private Spanish properties valued at over £1m owned by foreign investors, most of which are UK residents. The majority of these are set up as international corporate structures as a way of minimising tax or avoiding Spanish income tax for non-residents, as well […]
Understanding tax on your Spanish holiday home
Understanding tax on your Spanish holiday home If you aren’t a resident of Spain, you may struggle to understand the Spanish tax you need to pay on your holiday home. Luckily, this is simple to work out and depends on whether you rent out your property or not. Tax for landlords who lease Making money […]
Spanish Off Plan deposit claims
In 2005, Darren and Mary used their savings to buy a flat in a housing development in Málaga, like many Britons looking for a chance of having a second home in Spain, they signed a deposit contract with a real estate promoter and deposited several amounts into a special bank account indicated for this purpose […]
The new strategy of banks: request the testimony of the borrowers
The new strategy of banks: request the testimony of the borrowers. Banks are up against the wall. Especially with regard to floor clause claims. The Bank’s chances for obtaining a ruling in favour of their interests are very unlikely. Especially, after the ruling of the Court of Justice of the European Union 21/12/2016. Although the […]
The OCU appeals the decision of the CGPJ to create specialized courts for floor clause claims
The OCU appeals the decision of the CGPJ to create specialized courts for floor clause claims. This isn’t the first time that from Del Canto Chambers, we inform on the disadvantages of the creation of Ad Hoc Courts for floor clauses. In our article published last month #MortgagedJustice. The bank claims: a hard journey. We […]
Spanish floor clause and mortgage expense complaints registered with Banking supervisor soar 178% in 2017
The claims service of the Bank of Spain has been overwhelmed by consumers making complaints against lenders for abusive mortgage interest floor clauses, and set-up costs. The Claims Service of the Bank of Spain is a body that evaluates consumer complaints against financial service companies. The Bank of Spain has revealed that there were 40,173 […]
The Supreme Court rules in favour of the banks for mortgage expenses
The Decision has already aroused the first controversies in the Spanish legal scene and in the Consumers Associations that will undoubtedly raise this case to the European Court of Justice which will have the last word to say. It is not the first time that the CJEU corrects and amends the decision of the Spanish […]
98% of mortgage floor clause claims completed in 2017 were successful
As was expected after EU Court of Justice ruling in December of 2016, Spanish banks have little hope of defending themselves against legal claims brought by clients with abusive clauses in their mortgages. The effectiveness of the extrajudicial methods for avoiding going to court is limited.Trying to settle out of court is not as effective […]
Owning Spanish property via an international company could be a tax time-bomb waiting to explode
International company structures established in decades gone by to help wealthy owners of property in Spain avoid tax are now a ticking time-bomb as the Spanish tax authorities set their sights on them. “International company structures, with some owned by double or triple vehicles involving a Spanish company belonging to a foreign company and, in […]
Floor Clause Claims Time to be patient – Spanish Courts collapsed”
In the old days – when it comes to floor clauses when I say “in the old days” I mean 2013-, floor clause matters were settled in Commercial Courts; one per province, except in large cities such as Madrid, Barcelona, Valencia and Malaga. These courts were created to take charge of bankruptcy proceedings and industrial […]
The reform of the Balearic Tourist Law establishes a limit on touristic rentals
The Balearic Islands has approved by Decree Law the modification on the rental of touristic accommodations. In this way, the number of visitors to the islands is limited and the business of renting apartments (booming in recent years) is properly regulated. The limit has been set at 623,624 places for tourists and the long-term objective […]
New ruling favourable for claims of mortgage costs
Recently we published an article with regards to court claims in mortgage expenses (Notary fees, Land´s Registry fees, Property Appraisal and management costs among others). Furthermore, a First Instance Judge from Alcorcon, (Madrid), has sentenced Bankia to refund all above mentioned mortgage set up costs including the Stamp Duty Tax which represents around the 70% […]
Notaries request greater transparency and simplicity in mortgage clauses
In the past seminar called Protección del consumidor en la contratación hipotecaria (Consumer Protection in mortgage contracting) that took place in Santander from 19 to 21 July, the notaries are agree: transparency, simplicity and equity should prevail in mortgage contracts. And should be the financial institutions that, voluntarily, adopted these principles. Banks have become accustomed […]
Banks will have to explain better their mortgage contracts.
Spain will incorporate to its legislation the Directive 2014/17 CE of 4th February 2014 on credit agreements for consumers relating to residential immovable property. It means that banks will have to disclose information on their financial products or insurance accessories attached to their mortgage contracts. This includes credit cards, house or life insurance, etc. According […]
Owning Property in Spain is Taxing
It’s just a matter of time that UK expatriates in Spain receive a notification from the Spanish Inland Revenue (Hacienda); claiming unpaid taxes for the last four tax years (tax statute of limitation). By now, after having acquired your Spanish property, we are sure you’ll agree that the Spanish Tax Legislation is rather complex adding […]
The Spanish courts are collapsing with the demands of floor clauses
The ground court courts receive almost 2000 lawsuits in one week through Lexnet, we read on June 13 at ConfiLegal. But what exactly is Lexnet and what is it used for? Lexnet is a secure information exchange platform between the judicial bodies and the legal operators that was created to streamline and optimize the management […]
Double good news for those who claimed floor clauses or mortgage expenses
Regarding the costs of the trial Paying legal costs even if having good chances for winning a case against banks, may be deterrent rather than effective and may prevent consumers from taking legal actions against banks, especially if the amounts claimed are moderate. But Sala I of the Supreme Court has ruled and established, as a […]
Floor Clauses Claims The Private Agreement that banks offer to their clients
In this article, Antonio Gabriel Aguilera talks about, the so-called “floor clauses” and explains that it is a current and unstoppable phenomenon affecting millions of clients in the whole Spanish territory. He also explains to us that since 2015, some banks contacted clients that had mortgages with floor clauses, with the sole purpose to cancel such […]
Floor Clauses: 11 most Common Asked Questions
If you are one of those that are doubting about starting a complaint for overcharged mortgage interest against your bank, probably, many doubts will arise before contacting a professional firm. The clients whom have deposited their trust in us, have already been answered with their bank claims queries. In Del Canto Chambers, we provide professional […]
Spanish Off Plan Deposit Claims
Now, time is essential for a successful reclaim of your off-plan property deposit. One of every five houses bought by foreigners in Spain, belongs to British Buyers; however, some of these buyers saw truncated their dreams, as they put their life savings into Off-Plan deposits for properties that were never built or that were […]
Tourism leases in Andalusia. What should we know?
Touristic Lettings in Andalucía: What should we know about… Touristic Lettings are significantly increased during the Summer. If you are one of those thinking about renting your property for touristic purposes in Spain, you should know what are the applicable law requirements. Tourism in Spain is regulated by the Regional Autonomous Community (Comunidad Autónoma) where […]
Capital gain, cadastre and taxes increase the final price of housing by 25%
Capital gain, cadastre and taxes increase the final price of housing by 25% The calculation of the municipal surplus value and the increase of the value of the land by the update of the Cadastre make the taxpayer to pay 25% more of the price of the house. Buying a property implies a major outlay. […]
A ruling of the provincial Court of Madrid annuls the IRPH banking
A ruling of the provincial Court of Madrid annuls the IRPH banking The Provincial Court of Madrid annuls the IRPH of a mortgage loan for abusive following the doctrine that the Supreme Court applies to the floor clauses. Section 13 of the Provincial Court of Madrid issued a ruling on May 4 (Appeal nº 936/2016) […]
The TS recovers its old doctrine on the transparency of the floor clauses
The TS recovers its old doctrine on the transparency of the floor clauses The Supreme Court issues a new ruling on the floor clauses in which it tightens the requirements of material transparency of these clauses and guarantees the case-by-case study. Floor clauses do not leave legal status. If the Supreme Court initially only considered […]
The Parliament of the Balearics will discuss modifying the standard of tourist rentals
The Parliament of the Balearics will discuss modifying the standard of tourist rentals The Balearic parliament will urgently discuss a bill to regulate tourist rentals on the islands and ensure access to residential housing. The government of the Balearic Islands admitted to processing on April 7 a bill to regulate tourist rentals in the region […]
Floor clauses: Also a nightmare for British residents in Spain
Floor clauses: Also a nightmare for British residents in Spain It is estimated that around 200.000 British residents in Spain own properties with mortgages containing floor clauses that could be claimed at courts. Mortgage floor clauses were declared as ‘abusive’ by the CJEU in December 2016 and last February the Spanish Supreme upheld this decision […]
SOCIMI: Real Estate Investment Companies
SOCIMI: Real Estate Investment Companies The tax advantages offered by the #Socimi make these companies a safe investment vehicle in Spain, sponsored by the improvement of the real estate market in our country. The #SOCIMI or Listed Companies of Real Estate Investment are Spanish companies listed on the Alternative Stock Market (MaB) to manage real […]
Recovering deposit paid for Spanish properties
Recovering deposit paid for Spanish properties British tourists at the end of the 90’s started to dream with a home in Spain. Banks were happily lending money to make the dream a reality and all seemed to be so easy. Spanish developers visited cities and towns to offer the excellences of Spanish properties making very […]
The black spots of the floor clauses’ extrajudicial procedure
The black spots of the floor clauses’ extrajudicial procedure The extrajudicial process for the refund of the floor clauses leaves the consumers defenceless by making stealthy changes to their procedural rights. When the Court of Justice of the European Union ruled in favor of the total retroactivity of the floor clauses, consumers saw their rights […]
British owners in Spain can reclaim their lost money on off plan properties
British owners in Spain can reclaim their lost money on off plan properties After recent legal changes in Spain, buyers have the right to get back their property’s deposits on certain circumstances. The Spanish housing bubble was one of the most important 2008’s international crisis in this country. Thousands of citizens lost their properties or […]
War between banks and consumers for the return of the floor clauses
War between banks and consumers for the return of the floor clauses Banking and government delay compliance with ECJ ruling. The Minister of Justice, Rafael Catalá, recently announced that specialized courts in floor clauses may be designated with the aim of not collapsing the judicial system in the face of an avalanche of consumer complaints. […]
Del Canto Chambers is confident on the floor clauses' claims refund
Del Canto Chambers is confident on the floor clauses’ claims refund Our Managing Partner, León Fernando del Canto, has been quoted in an article, published by The Times, on the new floor clauses claiming procedure established in Spain: “The question on every borrower’s lips will be “How do I get my money?” — and, this […]
Del Canto Chambers thought as the well-placed firm to claim back for floor-clauses mortgages
Del Canto Chambers thought as the well-placed firm to claim back for floor-clauses mortgages The specialised website Spanish Property Insight has published an article, by market analyst and consultant Mark Stücklin, in which it has been quoted our Managing Partner, León Fernando del Canto, with regard to the recently approved Decree on floor clauses extrajudicial […]
Side B of the #floorclauses extrajudicial procedure
Side B of the #floorclauses extrajudicial procedure The #floorclauses extrajudicial procedure favours the banks instead of consumers As anticipated in our article “Floor clauses and smoke curtains”, the #floorclauses extrajudicial procedure regulated by the Royal Decree 1/2017 of 20 January has come to establish that banks continue winning this battle. This is not just a […]
How to claim for floor clauses mortgage loans’ expenses and other void credits
How to claim for floor clauses mortgage loans’ expenses and other void credits Floor clauses’ sentence triggered legal claims to recover mortgage’s arrangement fees and costs of mortgages loans affected both by said clauses and other void ones. In Spain, when signing a mortgage with a bank, the client is usually paying in full all […]
Taxation of amounts returned by floor clauses
Taxation of amounts returned by floor clauses Customers who receive their refunds of floor clauses may have to pay for them, depending on the deductions applied at the time. The amounts received for the return of the floor clauses may be taxed, depending on the deductions applied at the time. The system of taxation of […]
Del Canto Chambers considers a "smokescreen" the floor clauses' extrajudicial process
Del Canto Chambers considers like a “smokescreen” the floor clauses’ extrajudicial process Our Managing Partner, León Fernando del Canto, has published an opinion article in the journal Huffington Post in which he considers the new extrajudicial process that the Spanish government is trying to pass as a smokescreen to not to comply the CJEU’s sentence […]
Investment triangle between government, companies and investors in SID 2017
Investment triangle between government, companies and investors in SID 2017 The event “Spain Investors Day” celebrates a new edition in Madrid and brings together foreign investors with the government and executives of the big Spanish firms to capture business. The VII edition of Spain Investors Day (SID) brings together in Madrid over two days more […]
Del Canto Chambers bets for Spain as British housing investments' destination
Del Canto Chambers bets for Spain as British housing investments’ destination Our Managing Partner, León Fernando del Canto, has published statements in the British magazine Expat Network in which he highlights that Spain, despite Brexit and the Sterling’s devaluation, is still an important destination for British wanting to purchase a property in our country. For […]
The banking sector strikes back: mortgage loans increase after the ruling of the CJEU
The banking sector strikes back: mortgage loans increase after the ruling of the CJEU Spanish banks will increase credit to cope with a Euribor still at record lows and the CJEU ruling on floor clauses. Spanish banking has been in crisis for a number of years in the context of a low-margin and narrow-margin banking […]
The Government will pass a procedure for floor clauses refund
The Government will pass a procedure for floor clauses refund In view of the predictable wave of claims following the ruling of the CJEU, the government will provide banks with a code of good practice, in order for them to give back the floor clauses to their clients. The government will endorse an extrajudicial procedure […]
The United Kingdom's investments in the Costa del Sol increases despite Brexit
The United Kingdom’s investments in the Costa del Sol increases despite Brexit Brexit’s uncertainty does not stop British hedge funds’ investments in the Costa del Sol’s luxury housing market, with new projects for 2017. British housing investors are betting to keep investing in Spain despite Brexit’s generated uncertainty, especially, in the Andalusian Costa del Sol. […]
A court recognizes the floor clauses' total retroactivity
A court recognizes the floor clauses’ total retroactivity A Basque court recognizes the floor clauses’ total retroactivity a few days before the CJEU’s final sentence. The costs for the banks could be up to E5.2bn. The Barakaldo’s First Instance Court (Basque Country, Spain) has admitted the floor clauses’ total retroactivity and it obliges a bank […]
Silver Surfers – Moving To Spain Post-Brexit
1-12-2016 | SILVER SURFERS Our Managing Partner, León Fernando del Canto, has published a statement in the magazine Silver Surfers in which he advises Brexpats who own a property in Spain to comply their tax duties with the Spanish Tax Agency due to the uncertainty caused by the Brexit.
Spanish economy goes it alone: growing despite the absence of government
The Spanish economy is improving despite the eight months of a caretaker government. Although there is uncertainty about its sustainability, in Del Canto Chambers we are confident in the ability of our country. For this reason, we offer #EmbraceSpain to our international clients. Spain has been ruled by a caretaker government for the last eight […]
Spanish banks are facing massive trials for fraud during the housing bubble
A new wave of massive trials against Spanish banks is coming because of the investors’ lost money by property developers during the Spanish housing bubble. Spanish banks are facing a new case of multiple trials because of the lost money that investors paid to the bankrupted housing developers in the bubble’s years of 2004-2006. Developers […]
Holiday hell
Our Managing Partner, León Fernando del Canto, has published a new article at New Law Journal titled ‘Holiday hell’. This article analyses how the later CJEU’s Advocate General’s opinion on floor clauses’ retroactivity has affected not only Spanish citizens owning overpaid mortgages but UK citizens in Spain having holiday homes. To all of this is […]
Del Canto Chambers defines as "unfair" the ECJ's opinion on floor clauses
Our Managing Partner, León Fernando del Canto, published an article in the journal of luxury property Prime Resi on the subject of the ECJ’s Advocate General’s opinion on floor clauses and how it could affect British citizens owning a holiday home in Spain. According to León Fernando del Canto, the ECJ’s Advocate General’s opinion could […]
Premi Resi – The Rain in Spain
26-07-2016 | PRIME RESI The digital Media specializing in real estate, Prime Resi, published an article by our Managing Partner, Leon Fernando del Canto, on the recent decision of the Advocate General of the ECJ in relation to the non-retroactivity of provisions soil and how it will affect the owners of holiday homes.
Bad news for Brits with a holiday home in Spain
The British newspaper The Times has published an article by León Fernando del Canto on the consequences, for British citizens owning a property in Spain, of the ECJ’s advocate-general’s decision with regard to the floor-clauses’ no retroactivity: Bad news for Brits with a holiday home in Spain The European Court of Justice’s advocate-general says homeowners […]
The Times – Bad News for Brits with a Holiday Home in Spain
21-07-2016 | THE TIMES The well recognized newspaper, The Times, published an article by our Managing Partner, Leon Fernando del Canto, on the consequences for British citizens who have property in Spain due to the decision of the Advocate General of the ECJ in relation to non retroactivity of ground clauses.
Floor clauses and Brexit: this week’s hot topic
The CJEU’s Advocate General’s line on floor clauses and the Brexit’s economic consequences corners Del Canto Chambers’ reporting work last seven days. The work at Del Canto Chambers has been traced by the CJEU’s Advocate General’s statement on floor clauses and Brexit’s effects in the British economy this week. The Advocate General’s opinion of limiting […]
Spanish Golden Visa, the most secure scheme to put a foot in Europe
Spanish Golden Visa, the most secure scheme to put a foot in Europe: Spanish Act 14/2013 of 27th September, known mainly for containing the Spanish Golden Visa scheme, was issued to support entrepreneurs and their internationalisation, introducing a new type of visa and residence permit for qualified immigration, in order to promote the international mobility […]
Bloomberg – Spanish Banks Surge as Fears Subside over EU Mortgage Ruling
13-07-2016 | BLOOMBERG The prestigious financial newspaper Bloomberg published an article by our Managing Partner, Leon Fernando del Canto, on how they are prepared Spanish banks for the effects of the recent stance of the Advocate General of the ECJ regarding the floor clauses.
The stock of houses in Spain finally falls below 500,000 units
The time to buy Spanish real estate and obtain the Spanish Golden Visa is running out. According to the figures from the Spanish Ministry of Development, the stock of new, unsold houses reached a maximum of 650,000 homes in 2009. That is why now that this figure has dropped below 500.000, levelling to the amount […]
The banking's fight back: floor-clauses vs zero-clauses
Spanish banks are getting ready to face the next CJEU’s Advocate General’s opinion on floor-clauses’ effects by implementing “zero-clauses” and by growing fixed interest mortgage’s sellings up. The next CJEU’s Advocate General’s line on floor clauses could erase them and to make banking give mortgagors back their overpaid amounts for their mortgages. This decision could […]
CJEU delays its Advocate General's line on floor-clauses while in London the housing market steps back
As if all the people were not awaiting for it, the Court of Justice of the European Union (CJEU) has announced to delay its Advocate General’s line on floor-clauses that were affecting Spanish mortgages. These clauses have affected many buyers and investors who have overpaid bank entities they had signed their mortgages with since 2009. […]
How can Spanish Bankxit affect mortgages in Spain?
The Spanish Bankxit is a concept that is born from a sentence of the Spanish Supreme Court limiting in time the right to recover the amounts paid to the Spanish banks due to mortgage clauses that have been declared void, mainly the “floor clauses”. These clauses have been common in the Spanish banking practice. And […]
Limiting retroactivity in Mortgage-Floor Clauses is the New Bailout for Spanish Banks
Next July 12 will be decisive for the future of much of the Spanish banking sector and for millions of both Spanish and foreign consumers affected by the mortgage-floor clauses. That day Mr. Mengozzi, Advocate General of the ECJ, will issue his report on these controversial clauses, which have unjustly benefited the Spanish banking system, […]
Real estate investment companies: tax advantages and Spanish residence
In the 60`s REITs (Real Estate Investment Trust) were born in the US, with the goal of making large-scale investments in real estate accessible to small investors. The formula chosen was to equate investment in real estate to investment in any industry; through the purchase of stocks in the stock exchange. Therefore, although not required, […]
Investing in Spanish offices
After 7 years of real state inactivity in 2014 International Funds came back, transforming Spain into a hot market for commercial property investments again. In 2014, investments in non residential assets of €7 billion almost tripled the investments in 2013. The investors were looking for well-located large shopping centres and office buildings, although the […]
Are you eligible for a Spanish Golden Visa?
In order to obtain a Spanish Residency permit by means of the Spanish Golden Visa scheme, you must make an investment in Spain. However, not just any investment will do. It must comply with the criteria exposed in the Spanish Entrepreneurial Act of 2013 in order to make you eligible for the Residency. The first […]
Do You Have Real Estate Investments in Spain? Apply Now For Your Golden Visa Residency
Although the Golden Visa scheme, included in the Spanish Entrepreneur’s Law of September 2013, is aimed at obtaining foreign investments, it also works the other way around A whole fifteen months have passed since the Spanish government put forth a new law which gives a residency visa to foreigners who buy real state in Spain. […]
Forecast Suggests Increased Confidence In Spanish Property Market
In this interesting article published by Tax News-Global Tax News and written by Ulrika Lomas, the author discusses how real seems to be the positive forecast of increasing possibilities for the Spanish property market for 2014. A new report from the Urban Land Institute and PwC has found increasing investor confidence in the Spanish property […]
Legal update on Spanish time sharing regulations
As published in Conflict of Laws website by Marta Requejo, one year after the expiry of the deadline set by the Directive 2008/122/EC of the European Parliament and the Council of 14 January 2009, on the protection of consumers in respect of certain aspects of timeshare, long-term holiday products, resale and exchange contracts, the Spanish […]
European Commission vs Spain.- Transfer Tax on real estate companies
The European Commission has been very active during the last years regarding Spanish Tax position when a non resident element is involved. Our posting today deals with a matter involving transfer tax and stamp duty in the context of M&A. During the last decades, individuals acquiring Spanish property owned by a Spanish Company (SL) have […]
