For any non-resident Spanish property owner, the article below may be of serious interest as it appears that, at the least, all EU residents will be able to take advantage of all the tax breaks that are currently available to Spanish tax residents in the cases of property inheritance. This may even have a retro-active benefit for anyone who has inherited a property since 2006.
Regards
Andrew
As it is already well known, since 23rd of July the AIFOS Bankruptcy has initiated a new chapter in this creepy story. The situation was foreseeable as the reputation of this company was well known. Aifos commercialized developments at very competitive prices and had very good marketing strategies. They did not have building licenses, sometimes they were not even owners of the land, and in the majority of the occasions they did not grant the bank guarantees ordered by law nor did they deposit the monies received in a special bank account as established by law. How could they keep this behavior for years should be a matter of a deep and serious study. The financial crisis and the sudden end of the property market boom provoked this predictable end.
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A few days ago, I was contacted by a reader who asked me for some advice. The person in question has been kind enough to let me post here her situation. We both thought it might be useful for anyone else who might be caught in a similar situation.
Hi Andrew, I have read your blog with interest and learnt a lot!! Thank you. I wonder if you could advise me on something. I have been renting a property on the Costa del Sol for 4 years.
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