I am a resident in Spain and over 65 . I would like to sell my home , what taxes will I incur in Spain and what papers do I need to sell ? Thank you for you help.
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I am a resident in Spain and over 65 . I would like to sell my home , what taxes will I incur in Spain and what papers do I need to sell ? Thank you for you help.
Hello Kathyandtaco,
The Capital Gain resulting from the sale of the main property of a Spanish fiscal resident over 65 years, will be exempt if the following requirements are met:
• The taxpayer must be over 65 years when transmission occurs.
• The transferred property must be the principal/main residence.
• The transferred property was formerly principal residence of the taxpayer, for more than 2 years.
Regarding paperwork, you will have to have the deeds, last council tax receipt, community fee receipt as well as the supply contracts ready.
Taking about Taxes, other than the Capital Gain Tax mentioned above, the Plusvalia (Municipal Tax on the increase of the value of the land over the years) will have to be calculated.
If you wish to make a specific enquiry about costs for your personal case , please feel free to contact us by email.
Regards,