The possibility of agreeing to the prohibition by the Community of Owners required the unanimity of the owners until March 2019, but after the modification of the law introduced by Royal Decree-Law 7/2019 of 1 March this prohibition requires the favorable vote of 3/5 of the owners who represent 3/5 of the percentage of participation. The agreement could also include an increase of the community fee by up to 20% for owners who are doing short-term rentals. The agreement of the Board of Owners that prohibits vacation rentals has no retroactive effect and will only bind owners who want to use sta ..read more

NONPROFIT RESIDENCE ECONOMIC RESOURCES The non-profit residence was created for those foreign citizens who have resources and income that allow them to reside in Spain without having to develop a work activity. Consequently, the fundamental requirement to obtain this type of residence is the possibility of demonstrating sufficient economic resources during the period of stay in Spain. The minimum amount that the applicant must prove is 400% IPREM, which in 2018 is equivalent to € 25,828 per year, for the holder, plus 100% IPREM or € 6,454 per year for each of the members of his family who wish ..read more

3% CAPITAL GAINS RETENTION ON HOUSING SALES TO NON-RESIDENTS IN SPAIN Let’s start by saying this post is about a matter that arouses great interest and doubt in those non-residents who are considering selling a property is Spain. We are talking about the 3% WITHOLDING TAX. This withholding arises from the obligation of a non-resident in Spain to pay the Non-Resident Income Tax (IRNRL) included in Article 14 of Royal Decree 1776/2004 of July 30, which approves the Regulation of the Non-Resident Income Tax. Sometimes, foreigners ignore their tax obligations, and as they usually change their add ..read more