How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask José M. Your Own Question
José M.
José M., Attorney
Category: Spain Law
Satisfied Customers: 9035
Experience:  Spanish Attorney
Type Your Spain Law Question Here...
José M. is online now

I own freeholds in Tenerife for residential and commercial

Customer Question

I own freeholds in Tenerife for residential and commercial propertyI want to sell them to my offshore holding company in the sychellsI would like to know the best way to do this and what the taxes would beI will sell them and not gift them if that is an easier option
Submitted: 7 months ago.
Category: Spain Law
Expert:  José M. replied 7 months ago.

Hi José M spanish atorney. In Sapin you must pay taxes when you sell and you must to pay them here im Spain. No matter where your company resides. Even the buyer will have to keep ( by law) some of your money (21 per cent) here in order to avoid you never pay.

So, may be its no such a good idea to sell because you will lose money at fisrt step. If you think that it could be cheaper to manage at medium place may be it could be a business but no in a short time. I think you are not going to get something really