Spanish property profit

[AnnetteTular]

We are in the process of purchasing a holiday home in Spain as an investment - howeverwe have just been told that we will not be able to bring any profit we make out of Spain?? is this correct. I have read that you have to pay a 5% capital gains tax on any profit that you make.

 

 

[Sludge]

There is no restriction upon repatriating any profit from Spain once the taxes due have been paid, but you cannot complete a sale until all tax due has been paid beforehand. Tax in Spain is for a specialist to assist you, but there is useful information at this link

http://www.rawlinsholden.com/Tax%20on%20residential%20property%20in%20Spain.htm

and if you browse through the headings on that page you will see that other useful information is to be found there.