home ownership
Sep 24th 2019 | 5:00 am
#1
Thread Starter
Forum Regular
Joined: Sep 2007
Posts: 294
From: Whitby
home ownership
Hi, would anyone know what the cost of non resident tax is on owning a Spanish property. this is if the home is left empty and not rented out.
Thanks Markan
Thanks Markan
Sep 24th 2019 | 7:14 am
#2
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 6,172
Re: home ownership
There is no set figure it is based on a calculation from the Valor catasteral of the individual property . Cost for my property is 60 euros per year.
Sep 24th 2019 | 7:36 am
#3
Thread Starter
Forum Regular
Joined: Sep 2007
Posts: 294
From: Whitby
Re: home ownership
Thanks bobd22, good to know as I don't want lots of surprise costs thrown at me.
Sep 25th 2019 | 2:57 am
#5
Forum Regular
Joined: Feb 2011
Posts: 207
From: Sheffield, UK and La Safor, España
Re: home ownership
Our catastral value is about €18,000. The annual non-resident tax is €25. Small village house near Gandia.
Sep 25th 2019 | 3:24 am
#6
BE Forum Addict
Joined: Aug 2009
Posts: 3,669
From: Costa Blanca
Re: home ownership
Surely it is a better plan to check these issues out before buying a property.
Sep 25th 2019 | 3:43 am
#7
BE Enthusiast
Joined: Nov 2013
Posts: 305
Re: home ownership
However, I can live with the non-resident tax, it's the €32 per month for the electricity standing charges that gets me.
Sep 25th 2019 | 9:59 am
#8
BE Forum Addict
Joined: Jul 2006
Posts: 1,163
From: london/gandia
Re: home ownership
We've just paid ours at the bank after printing off the forms. Our 3 bed apartment & parking space came to just less than €100 (€50 each). 12 forms total, signed & dated, how the Spanish love their paperwork!
However, I can live with the non-resident tax, it's the €32 per month for the electricity standing charges that gets me.
However, I can live with the non-resident tax, it's the €32 per month for the electricity standing charges that gets me.
Sep 25th 2019 | 7:58 pm
#9
BE Enthusiast
Joined: Nov 2013
Posts: 305
Re: home ownership
Check out N26 open bank. https://n26.com/en-es/bank-account
We opened an account a few months ago and moved all our direct debits to them. We've just checked that they're all being paid and working OK, very happy. We'll be closing our non resident "key" account with Sabadell this week and saving ourselves €140 per year in fees. (We've just paid our non resident taxes into Sabadell before we close the account)
One thing to note is that you need a Spanish address to receive the debit card, which comes very quickly. We used a mail drop at a local card shop.
If you want more details please ask.
We opened an account a few months ago and moved all our direct debits to them. We've just checked that they're all being paid and working OK, very happy. We'll be closing our non resident "key" account with Sabadell this week and saving ourselves €140 per year in fees. (We've just paid our non resident taxes into Sabadell before we close the account)
One thing to note is that you need a Spanish address to receive the debit card, which comes very quickly. We used a mail drop at a local card shop.
If you want more details please ask.
Sep 25th 2019 | 11:10 pm
#10
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 6,172
Re: home ownership
I think the charges for non resident bank accounts are currently changing. I received a letter saying that now once submitted it stays in force until you declare otherwise? I didn't pay that much attention but I'm sure that's what it said this letter was received around 2 months ago.
Sep 26th 2019 | 7:58 pm
#11
BE Enthusiast
Joined: Nov 2013
Posts: 305
Re: home ownership
I think the charges for non resident bank accounts are currently changing. I received a letter saying that now once submitted it stays in force until you declare otherwise? I didn't pay that much attention but I'm sure that's what it said this letter was received around 2 months ago.
https://www.bancsabadell.com/cs/Sate...0034843962/en/
"To sign up for this account, the holder must sign the account contract in a branch of Banco Sabadell and declare that he or she does not hold another payment account in Spain. "
Sep 27th 2019 | 2:47 am
#12
BE Forum Addict
Joined: Jul 2012
Posts: 1,256
From: Xirles Tiny village near Polop
Re: home ownership
Non residents tax is for EU citizens a set percentage of 19% of the catastral value of the property. Here in Polop its 1.1% for a non EU citizen (UK after 31st Oct) its 24%
So on a value of 100k 1.1% is 1100€ and 19% works out to 209€ a year.
As to bank charges I pay €8 a month with Santander Spain but its free if I pay in €600 a month and have 2 DDR's
So on a value of 100k 1.1% is 1100€ and 19% works out to 209€ a year.
As to bank charges I pay €8 a month with Santander Spain but its free if I pay in €600 a month and have 2 DDR's
Sep 27th 2019 | 7:04 am
#13
BE Forum Addict
Joined: Jul 2006
Posts: 1,163
From: london/gandia
Re: home ownership
Interesting about the Sabadell offer, depending how the B word pans out I may well look at the account. I guess that if it is a joint account then it will be two lots of account charges plus their fee for notifying the authorities that we are foreigners that hold the account.
Nov 23rd 2019 | 3:53 am
#14
Just Joined
Joined: Nov 2019
Posts: 1
Re: home ownership
Check out N26 open bank.
We opened an account a few months ago and moved all our direct debits to them. We've just checked that they're all being paid and working OK, very happy. We'll be closing our non resident "key" account with Sabadell this week and saving ourselves €140 per year in fees. (We've just paid our non resident taxes into Sabadell before we close the account)
One thing to note is that you need a Spanish address to receive the debit card, which comes very quickly. We used a mail drop at a local card shop.
If you want more details please ask.
We opened an account a few months ago and moved all our direct debits to them. We've just checked that they're all being paid and working OK, very happy. We'll be closing our non resident "key" account with Sabadell this week and saving ourselves €140 per year in fees. (We've just paid our non resident taxes into Sabadell before we close the account)
One thing to note is that you need a Spanish address to receive the debit card, which comes very quickly. We used a mail drop at a local card shop.
If you want more details please ask.
Thanks for more details on this :-)
Nov 23rd 2019 | 6:34 am
#15
Lost in BE Cyberspace
Joined: Jun 2005
Posts: 6,912
From: Puente Esuri
Re: home ownership
I understand that the true cost of the non-resident certificate is around €6 so that is a nice line of profit since I have no doubt it is all computerised and automated. Also since we set up the account 2 of us have become resident so do not need the expensive non-res cert! The account services our mortgage and they insist that we must keep it open until the mortgage is fully paid so they have us by the short and curlies. They always find a way to extract the urine
