In the small print it says that to qualify you must spend more than 183 days in Spain - which of course would make you tax resident and liable for tax on your world wide income.

I can see that putting off a large percentage of would be foreign investors!

But they haven't worked out the fine details yet have they? They might follow the Portuguese model.

http://elpais.com/elpais/2012/11/19/...04_703937.html

I think you will find Chinese and Russians are as forthcoming with due taxes as the Spanish

so its the fine upstanding Brits who pay their taxes ??


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In the UK we are better than most other EU members but some expats do seem to have an aversion to it

You do have to spend a certain number of days in the country to be eligible. Basically I agree with previous posters. The Spanish housing market is in a total crash. People can no longer afford to pay their mortgages off due to crippling financial crisis and high unemployment. Many properties are being returned to banks or up for sale which many Native Spaniards or Catalans can no longer afford. This is a solution designed to appeal to non EU people who do have the capital to buy. This does include Russians for example who are fast becoming a big market especially here in Barcelona. Chinese property owners are common here also. They are buying up all failing bars, business and property at low fast sale prices. But if they are providing income and paying taxes I do not see it as a bad thing. It can only help the economy in that respects. However, there should be some sort of limit in place to ensure the country is not bought up by internationals. Just my two cents, Bryan

http://edition.cnn.com/2012/10/16/wo...ust/index.html

I would not trust what the spanish government says is truthful it will do or not as they move the gaol posts to suit themselves as many times as they care to like an annoying fly buzzing past you head in your lounge you can never quite catch!

ps

If they declare it?,i can't see the chinese or russians doing that can you?

paris

Possibly not but Hacienda will have them in their sights as they are an obvious target as tax evaders.

Hacienda aren't stupid and they are catching thousands of tax evaders every year.

Yes very true,they are having to get money in any way they can by any means and will use agressive tactics!,spain need money to get out of trouble.

paris

If buying a €160K house makes you "rich" and likely to "evade" taxes, then frankly, I think we have much more serious problems than I thought.

I would have thought most of the Russians buying property are only looking for holiday homes. They don't want residency anyway and they are unlikely to spend 183 days here.