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Buying a new property on sector D

Posted: Fri Feb 19, 2021 11:39am
11 replies809 views8 members subscribed
dickie1234

Posts: 6

1 helpful points

Location: Camposol

Joined: 2 Feb 2021

Hi All,

I am about to commit to purchasing a modest property in D. I am from the UK. I will be looking for residency but that can come later. I intend to live in the property full time and work from home. I understand that I will need to see a tax expert to manage my pay etc but thats later as well.

Whilst I have lived abroad in a number of countries, I have always rented as the work was short term etc. I have done a reasonable amount of research on the Camposol area and whilst there are negative posts of the area, the majority are very positive.

From your experiences, is there anything you might want to share before I leap in to Camposol? 

Bearing in mind, I have lived in a few places, and basically, all places around the world are the same. I don't need to come and rent for a month to see if the area meets my needs. I have quite simple needs, the ability to ride the motorcycle in the hills etc and just have a decent MyFi connection to the internet allowing me to perform my work remotely. I have not been to Camposol but will be coming over the next few weeks hopefully to inspect the property.

I love music, coffee (I dont drink that much to be fair), riding motorcycles, socialising, food. I work in the technology (IT) sector and on occassion, will need to travel to client sites so the airport will be used occasionally. I am aged 54, male, and have no intention of retiring until 65 to 70 years of age, love my work too much. I used to fly RC aircraft in my younger years, then moved on to the real thing (I crash better than anyone I know :) ). I would like to start RC flying again. Does anyone do this near Camposol? 

I appreciate this post sounds a little vague, but just wanted to hear some thoughts to generate conversation.

jaz007

Posted: Fri Feb 19, 2021 11:47am

jaz007

Helpful member

Posts: 151

96 helpful points

Location: Camposol

Joined: 20 Aug 2019

Posted: Fri Feb 19, 2021 11:47am

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.

Sunnyspain

Posted: Sat Feb 20, 2021 7:40am

Sunnyspain

Helpful member

Posts: 607

444 helpful points

Location: Camposol

Joined: 30 Mar 2018

Posted: Sat Feb 20, 2021 7:40am

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.

Will60

Posted: Sat Feb 20, 2021 9:46am

Will60

Helpful member

Posts: 183

159 helpful points

Joined: 10 Feb 2020

Posted: Sat Feb 20, 2021 9:46am

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

dickie1234

Posted: Mon Feb 22, 2021 12:06pm

dickie1234

Original Poster

Posts: 6

1 helpful points

Location: Camposol

Joined: 2 Feb 2021

Posted: Mon Feb 22, 2021 12:06pm

Sunnyspain wrote on Sat Feb 20, 2021 7:40am:

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.

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.

dickie1234

Posted: Mon Feb 22, 2021 12:10pm

dickie1234

Original Poster

Posts: 6

1 helpful points

Location: Camposol

Joined: 2 Feb 2021

Posted: Mon Feb 22, 2021 12:10pm

Will60 wrote on Sat Feb 20, 2021 9:46am:

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

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.

dickie1234

Posted: Mon Feb 22, 2021 12:14pm

dickie1234

Original Poster

Posts: 6

1 helpful points

Location: Camposol

Joined: 2 Feb 2021

Posted: Mon Feb 22, 2021 12:14pm

jaz007 wrote on Fri Feb 19, 2021 11:47am:

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.

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.

Michael 1979

Posted: Mon Feb 22, 2021 1:44pm

Posts: 13

3 helpful points

Location: Camposol

Joined: 24 Jul 2019

Posted: Mon Feb 22, 2021 1:44pm

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!

Will60

Posted: Mon Feb 22, 2021 5:03pm

Will60

Helpful member

Posts: 183

159 helpful points

Joined: 10 Feb 2020

Posted: Mon Feb 22, 2021 5:03pm

dickie1234 wrote on Mon Feb 22, 2021 12:10pm:

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.

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.

dickie1234

Posted: Mon Feb 22, 2021 6:07pm

dickie1234

Original Poster

Posts: 6

1 helpful points

Location: Camposol

Joined: 2 Feb 2021

Posted: Mon Feb 22, 2021 6:07pm

Will60 wrote on Mon Feb 22, 2021 5:03pm:

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?

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