EDAV Spain Residential Real Estate: Fiscal Vehicles Guide
EDAV Spain residential real estate continues to be a primary destination for international capital due to its unique tax advantages. While the sunshine and lifestyle are perennial draws, the sophisticated investor looks deeper into the fiscal architecture that governs these assets. Among the various vehicles available, the Entidad Dedicada al Arrendamiento de Viviendas (EDAV) stands out […]
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 […]
Galicia: An understated region in the north of Spain
Galicia: An understated region in the north of Spain. In an age where true exclusivity is defined by authenticity and space, Galicia remains one of Europe’s most discreet treasures. Nestled in Spain’s far northwest, this region offers an alternative to the well-trodden paths of the Mediterranean—a destination where nature, heritage, and quiet sophistication coexist in […]
Relocate to Atlantic North Spain
Relocate to Atlantic North Spain. The Atlantic north coast of Spain on the Bay of Biscay/Cantabrian Sea runs from Galicia over Portugal in the west to the Basque Country in the east bordering with France. Between these two regions are Asturias and Cantabria, all of which combine to perfection green mountains and long sandy beaches. […]
Malaga, a city on the rise
Malaga, a city on the rise. Malaga is known by some as the ‘European Silicon Valley’ or ‘of the south’. The city has become a favourite destination for multinational companies and startups, especially in the technology sector. They find in Malaga all the advantages of a well-connected and well-prepared city, combined with the attraction of […]
Telling Tales of Spain: 10 Uncommon Reasons to Choose the Iberian Haven
10 Uncommon Reasons to Choose the Iberian Haven. Spain, a land of contrasts and cultural richness, offers much more than its famous paella and sunny beaches. In this corner of southwestern Europe, you’ll find a unique blend of history, art, gastronomy, and lifestyle that make it an enticing destination for those seeking more than just […]
Moving to Spain: Navigating Spain’s Golden Visa Program
Navigating Spain’s Golden Visa Program. The Spanish Golden Visa program offers the possibility of obtaining residency in Spain through an investment of €500,000 in real estate or qualified financial investments. Its aim is to attract entrepreneurs to Spain, investment in real estate and other qualifying financial assets. If you are considering obtaining Spanish residency through […]
5 Not to be Missed Places in Cádiz
5 Not to be Missed Places in Cádiz. Cadiz, the oldest city in Western Europe, is a treasure trove of history, culture, and natural beauty. From its cobbled streets to its breathtaking sea views, every corner of this city holds a unique charm. If you’re planning a visit to this jewel of southern Spain, don’t […]
Moving to Spain: Five places you must visit in Ibiza
Five places you must visit in Ibiza. Ibiza, the Balearic island in the heart of the Mediterranean, has transcended its reputation as an epicenter of parties and paradise beaches to reveal a cultural and natural richness that goes beyond the bright lights and crystal-clear waters. The island, which is much more than just a destination […]
What Do Changes to Andalusia’s Wealth Tax Mean for Homeowners?
What Do Changes to Andalusia’s Wealth Tax Mean for Homeowners? Both resident and non-resident property owners in Andalusia are now exempt from paying Spain’s wealth tax, resulting in an average saving of €5,000 (US$4,933) per household Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week’s question. Q: I’m […]
Is it possible to buy or sell Spanish property from the UK and in pounds?
Is it possible to buy or sell Spanish property from the UK and in pounds?. You might be under the impression that you can only buy Spanish property in Spain and euros. But as we explain in this article, it’s perfectly possible to carry out the transaction in the UK, in pounds and using a […]
Four ways to save on property tax in Spain
Four ways to save on property tax in Spain. Property tax in Spain is notoriously high, both on purchase and during ownership. But, what if it were possible to reduce that bill? And if so, how would you go about it? In this article, we address these questions. We also look at reducing your liability […]
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, […]
Let your lawyer handle your financial and property affairs
Let your lawyer handle your financial and property affairs. A Power of Attorney will often be the most practical way of enabling a Spanish lawyer to undertake tasks and sign documents on behalf of their clients so that they do not have the expense and the inconvenience of having to attend in person to sign […]
Inheritance Tax and estate planning for overseas buyers of UK residential property
Inheritance Tax and estate planning. UK real estate is always popular with overseas buyers, and investment continues to be made despite tax reforms over recent years. Before finalising a purchase, consideration needs to be given as to how the property will be owned to ensure it is as tax efficient as possible in respect of […]
Legal tips for foreigners wishing to move to Spain and get their residency
Legal tips for foreigners. Year after year, thousands of foreigners from all around the world decide to start their new life in Spain. And there is enough reason for that: a country that offers ideal weather conditions all the year around, with a delicious gastronomy, tons of expats communities and friendly people who make you […]
Del Canto Chambers expands with new office in Mallorca
Del Canto Chambers expands with new office en Mallorca. Del Canto Chambers is opening a new office in Palma, Mallorca, as the London-based barrister chambers expands its work across the UK and Spain in response to increasing demand for advice on the opportunities available in the Balearic Islands. Covid-19-related restrictions encouraged many to re-think their […]
Where should I retire? – Spain, one of the top 10 places to retire
Spain, one of the top 10 places to retire. International Living ranking offers a growing selection of outstanding destinations where to live a healthier and happier life, and spend a lot less money. According to the International Living portal (*) Spain has been selected as one of the Top 10 World Best places to Retire […]
Form 720, an illegal form?
Form 720, an illegal form?. The Supreme Court of Justice rules in favor of a taxpayer with a property abroad and condemns to the Spanish Tax Office for the sanctions of Form 720 Relocating to Spain for business or pleasure is a very appealing prospect for many; however, it comes with obligations. One of the […]
Taxation of spanish residence
Taxation of spanish residence. Sun, food, chances for relaxation, affordability… All of these and even more are invaluable elements that contribute to an accomplished life are present in Spain. Many Spaniards take them from granted, actually. But, for the growing number of expats arriving from all over the world, these are the country’s key attractions. […]
British expats living in Spain: are their rights at stake?
British expats living in Spain: are their rights at stake?. Hundreds of thousands of British expats living in Spain face increasingly unfavorable tax burdens and discrimination over their pre-Brexit immigration status. Before the UK’s departure from the EU, most British citizens living in Spain failed to register their residence and have been flying under the […]
Taxation of Spanish Property
Taxation of Spanish Property. One of the most common concerns for British and other expat residents in Spain is their property taxes. How many taxes are there? When are they applied? How much and what are the timings for taking care of them? Taking care of these duties is very important, particularly if your house […]
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 […]
Owning property with a company in Spain (II)
Owning Spanish property via an international company. Previously, we have the reviewed the history of property ownership through companies in Spain. The structure emerged in the last decades of the past century as an advantageous method for the country to attract foreign investors; and for these investors to avoid excessive taxes. However, in recent years, […]
Owning property with a company in Spain
Owning property with a company in Spain: a tax time-bomb. Owning Spanish property via an international company could be a tax time-bomb waiting to explode. Spain has for decades been a destination for countless expats across the world; some areas along its beautiful coast resemble British colonies, due to the concentration of UK citizens living […]
Ibiza, the musical island
Ibiza is widely known as a hedonistic destination for vacations; even to live there if you’re savings allow you to so. The island is synonimous with a desirable lifestyle based on calmness, healthy food, beautiful sunsets… And, of course, the music. Ibiza is a musical island. The musical island. And not only now, after the […]
A Spanish Lawyer and Barrister in United Kingdom
Hiring a legal professional is a tricky decision, particularly when one needs an urgent opinion on financial or fiscal and tax matters.
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 […]
Ibiza for Expatriates: what you need to know if you own a house, boat or investment in Ibiza
Ibiza for expats Do you think of Ibiza as merely a party island? You’d be so wrong. Ibiza is the home to thousands of expatriates who value its warm climate, rich cultural heritage and peaceful environment which allows them to ‘disconnect’ from their busy lives. So here are a few reasons why you should consider […]
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 […]
Practical questions for UK citizens after Brexit in Spain
Practical questions for UK citizens after Brexit in Spain. During the transitional period of departure of the United Kingdom of Great Britain and Northern Ireland from the European Union – hereinafter the United Kingdom – ending on the 31st December 2020, UK citizens residing in Spain must obtain a “new” documentation in order to retain their […]
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 […]
Spanish residence permit for British Citizens after Brexit.
Spanish residence permit for British Citizens after Brexit. The British exit from the EU on January the 31st seems like a lifetime ago, as the events of recent months have been so tumultuous. But Brexit hasn’t gone away, just disappeared from view, and the uncertainty it creates still affects us in many ways, both big […]
Spanish Tax deadlines are not extended
The #coronavirus crisis requires constant monitoring of our tax obligations, both in England and Spain. In Spain, despite the situation, the Council of Ministers, in its meeting yesterday, did not approve extensions to the Spanish Tax Deadlines.
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 […]
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 Supreme Court condemns the Spanish Tax Office
The Supreme Court condemns the Spanish Tax Office. The Supreme Court of Justice of Castilla y León has admitted the appeal of a taxpayer that had been sanctioned a total of 5.800 euros for having presented Form 720 after the deadline and condemns the Tax Office for costs. The full judgement can be read here. […]
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 […]
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 […]
British Investment still growing in Spain despite of Brexit fears and political tensions
Spain is the most attractive European country for British investment Spain is the most attractive European country for British investment according to the III Barometer on Climate and Outlook for British Investment in Spain; which took place last 15th February, hosted by the HE of Spain in United Kingdom, Mr. Carlos Bastarreche and the participation […]
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 […]
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. […]
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 […]
Life, the Levant and the Bolonia beach
Life, the Levant and the Bolonia beach Our Managing Partner, León Fernando del Canto, has published a short story in The Huffington Post, promoting the release of his first novel “Que tu viaje sea largo” next May. PDF version in Spanish Language.
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 […]
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 […]
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 […]
Spanish treasury and foreigners in the Costa del Sol
Our Managing Partner at Del Canto Chambers, León Fernando del Canto, has published at the Spanish economic journal “Cinco Días” an article on Spanish Tax Agency’s inspection activities in the Andalusian “Costa del Sol”, mostly headed against high-purchasing-power foreign residents: Spanish treasury and foreigners in the Costa del Sol “The state coffers are empty. Nothing […]
Cinco Días – inspection activity of the Tax Authorities in Costa del Sol
27-07-2016 | CINCO DÍAS The Finance Newspaper, Cinco Días, published a column by our Managing Partner, Leon Fernando del Canto, on inspection activity of the Tax Authorities in Costa del Sol, Andalucia. The article is directed mainly to foreign residents with high purchasing power: Spanish Tax Authorities and foreigners.
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, […]
Taxing lifestyle and Spanish residence
Talking to a colleague in Hong Kong I realised how many people still think that residence in Spain is a taxing lifestyle. This week I was in Seville, Jerez, Sotogrande, Marbella and Malaga and met clients from UK and Malaysia. Looking at their lifestyle and listening to them I am more and more convinced that […]
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 […]
