Farrand and Co
2008 Spanish Capital Gains Tax

• Assets
• Own Home

• Non-Residency
• Tax Planning
 

 
Most Assets            18%

Own home            0% - potentially
There is an exception for the profit on the sale of one’s one home "Vivienda Habitual".
 

A) To qualify as your Vivienda Habitual you must have owned and lived in your own home for three years.

B) The net sale proceeds must be invested in your next Vivienda Habitual within two years of selling the original home, or four years if the property is being built.

• Once age 65 is reached the three-year rule still applies but you do not have to reinvest the sales proceeds to obtain the exemption.
• There are concessions for some sales within three years, for example if forced to move by change of job, but each case needs to be considered individually.
• There are further concessions for assets acquired prior to 31st December 1996.For expats living in Spain it is important to remember that the three years starts from the date of your registration with the authorities.