Buying a new property on sector D

Dickie - you will need to look into a non lucrative visa for residency status, as things changed on 1st Jan 2021.

Camposol is a good area for walking, biking etc, you will need transport from Sector D to the shops on B and further a field. Internet companies Telitec & Telecable offer fibre optic, Compusurf offer interent up to 10mbs though. Corvera airport is 35 min drive and Alicante is roughly 1hr & 15mins.

Camposol sounds ideal for you. We moved full time on D last July and bought in 2018. No regrets so far. D is lovely and quiet and the shops bars restaurants etc are only a 5 minute drive away or from where we are 40 minute walk. We swapped from compusurf to telecable for our Internet. Its a great community. If you need help there is always someone willing to provide a helping hand. We are fortunate and have great neighbours. There are numerous lovely beaches which are about 20 minutes drive once you leave camposol. There is a motor bike group in the area that meet up for rides out. You will enjoy the mountain ride to either Cartegena or Agualis.

There are plenty of properties for sale. If you buy ensure you go to iberdrola and get your electric tariff to day and night for cheaper electricity. Ibex office is on camposol where we arranged our house insurance. Keep checking your water meter as pipes are always bursting. We had 3 in as many months.

Do your homework on tradesmen if you want any work doing. Ensure they are legal and insured and insist on seeing their paperwork as lots of rogue cowboys around. Consider if you really need a property with a pool. Unless its heated you will only be able to use it about 3 months of the year and they are expensive to run all year. Electric is quite expensive here.

Check out acro rc. 

Good luck.

You should work out your visa needs before you commit.

If you are self-employed, will you leave the company entity in the UK and pay yourself a salary ?    Or will you move your company to Spain ?   Or do you get paid by a UK entity that you do not control ?

These questions determine the visa that you need. Suggest you look here ...

http://www.exteriores.gob.es/Consulados/LONDRES/en/Consulado/Pages/Visas.aspx?fbclid=IwAR0xMqhqHmEKBIff9XqYT9E6SLp-1cfG5WQqDfxajoVj2zCNqoLX8WqmZt0

Sounds good SunnySpain.

I will hopefully be converting the property to solar power - regard the high cost of electricity, and have a water heater on the sun terrace on the roof. This should ideally keep running costs to a minimum.

I am fairly handy myself, and I do not intend doing structural changes etc. I have seen on the internet some properties where the foundations, or certainly the sand, has run away with work performed on the plot. I realise this issue is limited to certain areas across Camposol so not too worried about that. 

Rather than having an internet connection to the house, does anyone use a MyFi solution where they have a completely portable 4G connection using a local sim provider? When living abroad, I have used this type of internet connection for the house/apartment that I was renting.

It's good to know that the community is well established and there are like minded people across the some 5000 properties. Looking forward to getting out of this lockdown, viewing the property, and putting the wheels in motion to buy this property.

Hi Will,

Yes, the visas need to be sorted and I need confirmation of residency prior to laying my money down on the property. I do not see a problem as I am working and pulling a reasonable pay.

I now work under an umbrella company who contract me out to the client. This means I will be paid in a UK tax solution which is best for me. I also understand I will need to submit a tax resturn in Spain and confirm that taxes are paid in in the right country. I am not a tax specialist so will need some good advice on the way forward on this matter. I am sure the umbrella company would be happy to pay me in Euros into a spanish account if this becomes a must.

I will look at the link you have kindly provided. Thanks.

Thanks for the response Jaz.

Lucrative.....not sure. And not too sure what you are talking about. However, I will not look into it so thanks for the pointer.

Thanks for the reassurance on the walks and the internet stuff. As per a response, I would be looking at a sim managed MyFi solution. And was wondering how 4G connections over Sector D was? Hopefully yhe signal is strong and stable.

Hi, with regards to 4g, with our villa on d23, it's not very good, not good enough to work from, as ours is a holiday home, we just used the WiFi with compsurf, which is good but might be a bit expensive full time!

If you gain one of the working visas (or the Non-Lucrative visa), you will inevitably end up as tax-resident here in Spain.

2 points to be aware of/to plan for ....

- if you are well paid by UK standards, you will be very well paid by Spanish standards. Tax allowances here are low compared to the UK, and tax rates are high for high-earners, so your overall income tax-take will be substantially higher. As an example, my wife and I pay around 70% more tax in Spain than in the UK.

-  you will pay tax in Spain before you stop paying tax in the UK ... so this can be a financial pinch-point to plan for. FYI, my wife and I became tax-resident in Spain on 1/1/19 (the Spanish tax year is Jan-Dec). We paid our 2019 tax in 2020. In October 2020 we started the process to exit the UK tax system and to reclaim our UK-paid tax (October 2020 was the earliest date we could do this). Last week, the Spanish tax authorities authorised the process, and we sent our approved documents to the UK HMRC today. We hope to have our UK tax repaid by April this year .... 28 months of paying full income tax in both countries.

Will,

I thought this would be the case however, it is good to have this confirmed from someone who has gone the tax process themselves...and from the UK.

Paying high taxes (Spanish) is not the way to go for me. It would simply make it unviable to work, earning what would be classed as the few 1% in the UK. 

So, the questions now is........can I have residency in Spain, allowing me to stay more than 90/180 and have my employer from the UK, where I get paid in GBP and pay taxes to the UK HMRS? Whats your thoughts on this approachWill?