Can I buy a holiday home in Spain after Brexit?
Can I buy property in Spain after Brexit? YES. There are no rules that restrict the purchase of property in Spain to only EU citizens.
What happens if I own a property in Spain after Brexit?
Buying property in Spain after Brexit will not cost you any more money. The cost of buying a property in Spain is the same whether you are a Spanish national, a national of the UK, or a national of the USA or China. The costs of buying a property are not affected by your nationality.
What happens if you own a property in Spain?
When you purchase a property in Spain, transfer tax is payable on existing properties, while Spanish VAT and stamp duty are payable on newly built properties purchased from a developer.
What happens if I stay too long in Spain?
However, if you spend over 183 days/year in Spain you will be deemed tax resident. On applying for a visa renewal, you will have to provide proof you are living in Spain long term, which may trigger tax residency. Not be already in Spain illegally at the time of making the application.
Therefore Brexit will not prevent you from buying or owning a property. Additionally, a citizen of any nationality can request a mortgage in Spain, provided that you have all the required credit score. But can you still rent out your holiday home in Spain? Absolutely!
Will Brexit affect future British investment in Spain?
Based on this, future British investment in Spain should not be affected by the UK leaving the European Union and British nationals would, in the current position, be able to invest in Spain should they wish to do so. Many clients invest in a second holiday home in the sun for their own enjoyment, while others see their purchase as an investment.
Does Spain allow British property owners to live in the country?
Yes, it does. Spain may, of course, introduce new legislation to favour British property owners and allow them to spend longer periods of time in the country. However, at present, the government has not announced any new rules. Will Brexit affect my rights as a homeowner in Spain?
Will Brexit affect my right to own property in Portugal and Italy?
If you own a property in Italy, your right to own will not be affected by Brexit. British citizens who rent out their holiday homes can continue to do so. There are over 50,000 British citizens living in Portugal, with the country being the third most popular destination for Brits to buy a holiday home.