Spanish Wills vs English Wills.- A useful video on the different options that a person owning property in Spain has in terms of Wills.
Do you own property in Spain? If you do, it is always convenient to have a Will in place to ensure that the property goes to the relatives or persons you would like them to inherit it. As you will see in this article, there are several options which include granting a Will in your home country or a specific Will in Spain. There advantages and disadvantages in each option and here Antonio Guillen, dual qualified Spanish lawyer and English Solicitor as well as former Honorary Consul for Spain in Manchester, will mention some of them.
For instance, did you know that the administration of a Spanish estate when there is a Spanish Will in place takes an average of 3 months? On the other hand, when there is no Spanish Will the administration process can take as much as 12 months. It´s a big difference as you can see!
As usual, this video cannot replace the complete full advice that you would get if you meet or consult with a Spanish lawyer but it will serve as good guidance to understand a little bit better the different options available.
Spanish Lawyer and Solicitor Claudia Font gives us some TIPS for property owners in Spain to take into account now that Brexit is around the corner…
Some TIPS for property owners in Spain to take into account now that Brexit is around the corner…
As part of gunnercooke In the Hot Seat video series, Partner Claudia Font gives some TIPS for property owners in Spain to take into account now that Brexit is around the corner…
We would recommend to property owners in Spain to ensure that they have their property registered on their names in obth the Spanish Land Registry and Spanish Cadastral Registry.
We find quite often clients that thought they have inherited a property n Spain but for any reason the property is not registered on their names even after having paid Inheritance Taxes in Spain.
We would also recommend having a Spanish Will in place.
This is not mandatory but more than advisable mainly after Brexit because we do not know if the UK will still be part of the EU Regulation for Succession matters.
Last but not least, we would recommend to ensure that they are up to date with Spanish Council Ta and more importantly Spanish non resident tax.
You can watch other videos of In the Hot Seat series in gunnercooke website.
You can also follow us on our YouTube channel Spanish Solicitors in the UK.
Claudia Font is a dual-qualified Spanish lawyer and English solicitor.
She is duly registered with the Law Society of Barcelona, Spain as well as the Law Society and the Solicitors Regulation Authority in England and Wales.She has practised for over 15 years. Claudia advises British clients with Spanish interests and Spanish companies and Law firms with interests in the UK. Prior to joining gunnercooke llp, Claudia worked in a number of leading Spanish firms in her native Barcelona, before founding her own firm.
How to incorporate a Spanish Company by a UK Ltd company.
Some UK Ltd companies trading in Spain are considering incorporating a Spanish subsidiary or affiliate due to BREXIT.
The majority of UK companies who are relocating their headquarters or subsidiaries to Europe due to Brexit, are going to cities such as Frankfurt, Paris, Dublin and Amsterdam, however, a few of them have chosen Spain as their destination, mainly those with commercials interests in that country. British investment in the Spanish economy is growing significantly, according to Spanish government figures. According to the Institute of Export & International Trade, Spain is an important market and business partner for the UK. “It is the UK’s 8th largest export market (9th for goods).
How your company should proceed to incorporate a company in Spain?
On this video, you will find some key points that might prove of help.
The similar figure in Spain to a UK Limited company would be a “Sociedad Limitada (S.L.)” i.e. Spanish company where the
shareholders have limited liability as they do in a Ltd company in the UK.
In most of the cases we are dealing with, the UK company will be the only shareholder of the Spanish company.
To incorporate a Spanish SL by a single shareholder which is a UK Ltd. Watch the video to see which are the main steps to follow.