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Residency
Posted: Tue Sep 22, 2020 1:15am
We wish to live in Spain keep our English business till we retire and sell up in 3 years
Is this possible?
Posted: Tue Sep 22, 2020 10:02am
Helpful member
Yes.
If you gain Spanish Residency before end 2020, you will keep your rights to healthcare and State Pension increases when you reach 66. However, you will invalidate your Residency (TIE) if you spend >6 months out of Spain in any year.
If you wait until after end 2020, you won't secure healthcare or pension increase rights.
If you gain Residency this year, you will be a tax-Resident in Spain next year, and will reconcile taxes in 2022.
You will pay income tax and CGT in Spain.
Posted: Mon Sep 28, 2020 6:46am
I am in the same situation and would recommend using an accountant experienced in this type of work
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