Legal, Accounting, and Taxation

If you are planning to settle on Lanzarote, set up a business here, or even just own a holiday home, then you will need to get to grips with how the Spanish taxation and legal system works on such matters.  It's not scary, but just different from the UK - so it helps to do your research, as well as get advice from experts (some advisory services are listed below this introduction).

Some top tips that we have picked up along the way are:

  • When buying a property, budget for 10% over the asking price to cover the costs of the purchase, including tax and stamp duty on the transaction;
  • Unless you speak very good Spanish, it's a good idea to use legal advisers that also speak your own language;
  • Inheritance tax works differently in Spain compared to the UK, so take advice on making a will that adequately protects and arranges for distribution of your assets in Spain, as well as assets you have in the UK.
  • Paperwork and administration can be complicated in Spain/the Canaries, and setting up a business involves more of this than in the UK.  Consider using the services of an asesoria (an administrator that combines local accounting/tax and legal advice).  An asesoria can also be very helpful with aspects like getting residencia status, and arranging insurance;

FAYNA PÉREZ CABRERA


ABOGADA-LAWYER- RECHTSANWALTSKANZLEI

Address: C/ Otilia Díaz 12B, 1ºC
35500 Arrecife de Lanzarote

Telephone: 928803899 Fax: 928815909
E-mail: faynaperez@gmail.com

Angela Webster, Fiscal Representative

Infomation about your tax obligations once you own a property in Spain.

Angela Webster, Calle Labrador 4, San Bartolomé, 35550 Lanzarote
Fax and telephone 928 520679
Email: webster.ar@gmail.com
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