As you may remember, I have referred to this tax in previous posts without fully explaining what it entails exactly. Here is a breakdown of the key facts of Spanish Non-Resident Tax.
The determining factor regarding what kind of Income Tax a natural o legal person pays in Spain is residence. Residents pay regular Income Tax (IRPF) or Corporation Tax (IS), and non-residents, both natural and legal persons, pay must pay Non-resident Income Tax (IRNR).
As we all know, the current economic situation in Europe, and the special vulnerability of the Spanish economic and housing market, make Spain a country with appealing potential for foreign investors wishing to acquire real estate here.
Climate, way of living, beaches, but above all affordable prices for those originating from abroad, encourage other European citizens to makes plans for their future here. At a time when accessing credit has become extremely complicated for Spanish nationals, the difficulties for foreigners in buying property in Spain are far fewer.
— Execution of the notarized public deed of purchase. The acquisition must be attested to by aSpanish notary public or by a Spanish Consul abroad, to whom it is necessary to show evidence of The identity of the parties