Spanish Wealth Tax Mortgages

Optimise Your Investment with Spanish Wealth Tax Mortgages

Spanish wealth tax mortgages are essential for non-residents investing in property while managing tax liabilities effectively. At Worldwide Property Co, we specialise in providing tailored mortgage solutions that help you optimise your Spanish wealth tax obligations. Our expert team guides you through the process, ensuring you secure the best possible terms for your mortgage.

Understanding Spanish Wealth Tax

Spanish wealth tax (Impuesto sobre el Patrimonio) applies to the net value of assets held in Spain, including real estate. Both residents and non-residents who own property in Spain are subject to this tax.

• Tax Thresholds: The wealth tax applies to net assets above €700,000 per person. For non-residents, only assets located in Spain are considered.
• Tax Rates: Tax rates range from 0.2% to 3.5%, depending on the total value of the assets. For instance, assets valued between €700,000 and €1,000,000 are taxed at 0.2%, while assets exceeding €10,695,996 are taxed at 3.5%.

Example Calculation

Imagine you are a non-resident who owns a property in Spain valued at €1,500,000 and have a mortgage of €500,000 on that property.

Net Value

€1,500,000 (property value) – €500,000 (mortgage) = €1,000,000

Taxable Amount

€1,000,000 – €700,000 (exemption) = €300,000

Wealth Tax

0.2% of €300,000 = €600 annually

By securing a mortgage, you reduce the net value of your assets, thereby lowering your wealth tax liability.

Benefits of Our Spanish Wealth Tax Mortgage Services

Secure Competitive Interest Rates

Get the most favourable rates available for non-residents.

Leverage Expert Tax Guidance

Benefit from our in-depth knowledge of Spanish wealth tax laws.

Choose Flexible Terms

Select from a variety of mortgage options that suit your financial situation.

Enjoy Personalised Service

Receive dedicated support from our experienced mortgage advisors.

Ready to explore your options for Spanish wealth tax mortgages? Contact us today and speak with one of our mortgage experts.

Our Mortgage Process

1. Discuss Your Needs: Talk with our advisors about your financial situation.

2. Get Pre-Approved: Know your budget with a pre-approved mortgage.

3. Choose Your Property: Select your ideal property in Spain.

4. Complete the Application: We support you through the application process.

5. Receive Approval: Finalise your mortgage upon approval.

For more detailed guidance on the typical buying process in Spain, please refer to our guide for How To Buy Property in Spain.

FAQs 

Can non-residents get a mortgage in Spain?

Yes, non-residents can obtain a mortgage in Spain. Banks typically offer up to 60-70% of the property’s value and require proof of income, assets, and creditworthiness.

What documents are needed for a Spanish wealth tax mortgage?

You will need proof of income, bank statements, credit history, and identification documents. Specific requirements may vary by lender, but we will provide a detailed checklist for your situation.

How can I reduce my Spanish wealth tax liability?

Securing a mortgage can reduce your Spanish wealth tax liability by lowering the net value of your property. Consulting with tax experts can help you find additional tax-efficient strategies.