Property Investment Costa Blanca

Property Investment Costa Blanca

A few guidelines for property investment on the Costa Blanca

There are only a few restrictions on buying any type of property in Spain, whether you are an EU citizen or not. The Spanish government actively encourages foreign property investors regardless of whether it is as an investment or or as a buy-to-let, but there are some simple rules that need to be followed.

Two important things you will need to do are

  1. Obtain a NIE number (simply a pesonal fiscal ID) which can be easily acquired from a police station with your Passport.
  2. Declare and pay the 19% tax on the profit on any rental income. You can actually detuct many types of expenses, and some of these are;
  • Notary or Solicitors’ Services
  • IBI (Property Tax)
  • Refuge Collection Service Tax
  • Electricity/Gas
  • Water
  • Property Depreciation
  • Urbanisation/Community fee’s
  • Advertising fees (such as Airbnb and Tripadvisor etc)

Because of the tax agreements between EEA member countries you only need to pay this tax in one country

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