Cancellation of the mortgage over your property in Spain

mortgage in marbellaWith these few lines we intend to inform you on the steps to be carried out by yourself, to formally cancel a mortgage loan which has already been paid in full.

Make sure the bank signs the Title Deed that cancels the mortgage in Spain!


After the settlement of the debt with your bank, there is no reason to keep a charge over your property, which may somehow damage your interests in the future, such as in the event that you decide to sell the property.

3% Retention in the purchase-sale of properties in Spain

property in spainWhen a sale of a property located in Spanish territory, by a non-resident taxpayer in Spain occurs, the purchaser has the obligation to withhold and pay 3% of the purchase price of the property, as an advanced payment on account of the taxes of the non-resident seller. In other words, this 3% is a prepayment on the potential capital gain tax in Spain.

Please note that this is an obligation on the buyer, who is bound to the presentation of the form 211, for deposit of the 3% retention at the Spanish Inland Revenue, within one month from the date of transfer of the property.

Once the deposit or payment has been made, the purchaser will provide the seller with the form 211, “copy for the vendor non-resident”, to justify the deposit of the retention with the Tax Authorities in Spain.

Goodbye to the Apostille in the European Union?

international lawyer in marbellaIt is well known how difficult may be that a document issued by any authority of a State, has legal effect in another State.

It seems that the European Union will make things easier (although some may not wish to take part -Brexit Dixit-), through the adoption of a regulation that would simplify certain procedures to authenticate official documents.

Currently, citizens of the European Union, must obtain a stamp to prove that their public documents are authentic in another EU country.

Spanish annual accounts for the fiscal year 2015

spanish accountant in marbellaSoon and after presenting the Companies Tax for the year 2015, you will need to present and register the annual accounts of your company in Spain.

The annual accounts must form one unit and must include the report, the balance and the profit and loss account, as well as the State of Changes in the Net Equity.

The Spanish annual accounts must be presented at the Companies Registry that is closest to the registered office to be registered.  Previously the accounts must be approved by the General Meeting of Shareholders or the directors within a maximum term of 6 months after the fiscal year having finished.  Then you have 30 days to present the annual accounts at the Companies Registry in Spain.

Certificate of the Companies Registry for a company in Spain

spanish company in marbellaAre you participating in a Limited Company in Spain? Are you shareholder of an S L  Company or administrator in a foreign company with permanent establishment in Spain?

We remind you that the following information is publicly known:

The Companies Registry is a public service and depends of the Ministry of Justice. The Central Companies Registry is situated in Madrid and each capital of each one of the provinces has a local Companies Registry.

General information of the Companies Registry. We gave you some information in a previous blog on the yearly account, the obligatory books, the incorporation of companies, etc. Now we will inform you of the genera land specific information that is published by the Companies Registry in Spain.

Daily register of the working day in Spain

Labor Law in Spain marbellaDo you own a company in Spain with employees? Are you a director of a Spanish company? Avoid fines by meeting Spanish labour regulations.

Upon entering into force of the already existing regulation on part-time contracts and training contracts, of the Spanish Royal Decree 16/2013, of 20th December, on the modification introduced by such law in article 12.5.h) of the Statute of Workers’ Rights and in accordance with article 35.5 of the Statute of Workers’ Rights that regulates the full-time contracts, those companies that have employees must keep a daily registration of the working day. The non-fulfilment of this regulation has started to have repercussions and negative consequences for some companies.

These are the obligations of keeping a DAILY REGISTRATION OF THE WORKING DAY:

Limits on cash payments in Spain

cashAt the end of 2012 there was a modification on the Spanish Tax & Financial regulations.  Some of the changes where introduced to increase the actions in the prevention and fight against fraud.  One of these actions was to set limits on the cash payments of certain transactions.

A cash limit was established on all transactions when one of the parties involved acts as an entrepreneur or professional and the amount being paid was equal or above 2.500,00.-Euros or its exchange value on a foreign currency.

Nevertheless, this limit can be increase to 15.000,00.-Euros or its exchange value on a foreign currency when the payer is an individual that can prove that his fiscal residency is not in Spain and its not acting as an entrepreneur or professional.

Regulations to the Spanish holiday rental market (II)

lawyer in marbellaFactors to consider before registering your Spanish property

Our law firm in Marbella, Arcos & Lamers Asociados, has the pleasure to line you out some additional notes concerning the registration of your holiday rental home in Andalucía due to the large number of inquiries that we already have received.

Owners of a property in Andalucía should take into account a number of factors prior making the decision to register your property at the Registry of Tourism of Andalusia.

In addition to the requirements that all properties must have see previouse post, the factors to consider are:

Amendments on the Spanish Mortgage Law establishing geo-references coordinates on properties in Spain

home marbellaOn November 1, 2015 entered into force the Law 13/2015, of June 24, which amendments the Mortgage Law, the aim of this reform is to coordinate the relationship between the Land Registry and Cadastre improving communication between them.

So from the entered into force of this Spanish Law, one of those changes are relating to the registration into the Land Registry in Spain, establishing that always that a property is registered or operations parcelling take place, re-parcelling, land consolidation, segregation, division, group or aggregation, expropriation and stating boundaries to determine a rearrangement of the corresponding plot of land, it must include the plot geo-references to the property to complete its description.

The above would allow creating an official system which allows to distinguish plot of land not only from its surrounding properties, but to locate them the earth’s surface.

It involves a precise identification of the properties, giving greater reliability of information and leaving little margin of error.

Arcos y Lamers Asociados has a team of professionals ready to provide legal and tax advice. Approach, Arcos & Lamers Asociados, your Spanish lawyer in Marbella, for your initial free consultation! We are active not only in Marbella, Málaga, Costa del Sol but providing services to the whole Spanish Territory.

Cecilio Sánchez, laywer in Marbella

Responsibilities deadlines on constructions of properties in Spain

contruction of a home in SpainRegarding the query about the responsibility of the promoter after the constructions of a property in Spain, please kindly be informed, in general terms, what the Spanish Regulations states. Our English speaking law firm in Marbella refers to the so known Ley 28/1999 de 5 Noviembre de Ordenación de la Edificación:

– Without prejudice to their contractual responsibilities, natural or legal persons that take part of the process of building, (promoter, architects, builders…..) are liable to the owners (the buyers and future acquirers) of the following material damage caused in the building within the time limits specified, from the date of receipt of the work:

a) For ten years, in relation to the damage caused to the building by faults or defects affecting to the foundation, supports, beams, framework, walls or other structural elements, which directly compromise the mechanical strength and the stability of the construction.