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Buying in Spain

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  • 07-06-2018 5:06pm
    #1
    JohnMcM
    Registered Users Posts: 1 ✭


    Hi,

    I’m wondering if anybody can help me. I’m considering buying a property in Spain as an investment with intention to live when I retire.

    Would anybody know if I have to pay tax in Ireland as well if I was to rent the property and have the rental income going into a Spanish bank account. And also is revenue notified if I bought the property?

    Thanks

    John


Comments

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    #2
    ross2010
    Registered Users Posts: 67 ✭✭ross2010


    JohnMcM wrote: »
    Hi,

    I’m wondering if anybody can help me. I’m considering buying a property in Spain as an investment with intention to live when I retire.

    Would anybody know if I have to pay tax in Ireland as well if I was to rent the property and have the rental income going into a Spanish bank account. And also is revenue notified if I bought the property?

    Thanks

    John

    Yes and yes. If you are resident in ireland you must declare the income from a rental property abroad and pay the taxes. The EU have a Directive on Administrative Cooperation on tax and it obliges EU countries to inform the resident country on ownership of property and bank accounts.


  • Options
    #3
    janedoe007
    Registered Users Posts: 50 ✭✭janedoe007


    Have you considered Portugal ? It was Tax free for first 10 years retiring there but not sure if that changed on 1st jan 2018. - might be worth looking into.


  • Options
    #4
    ckblackrock
    Registered Users Posts: 35 ✭ckblackrock


    JohnMcM wrote: »
    Hi,

    I’m wondering if anybody can help me. I’m considering buying a property in Spain as an investment with intention to live when I retire.

    Would anybody know if I have to pay tax in Ireland as well if I was to rent the property and have the rental income going into a Spanish bank account. And also is revenue notified if I bought the property?

    Thanks

    John

    If you are intending doing holiday lets and planning on using the property occasionally yourself, be warned that you will need to apply to the town hall for tourist use, if the property is not already registered as a tourist let. Huge fines if you do Airbnb etc without the proper permits. If you let long term, tenants have the same - or better - security of tenure as here, so unless you or close relative are moving in permanently, you won't be able to evict tenants after they have been there for (possibly 6?) months.


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