Miradores 438 - La Manga Club - Los Belones 30389 Cartagena - Murcia SPAIN · · · Ph.: 0034-968-175146 | Fax: 0034-968-175263

   

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Online ServicesBy MSB

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Knowledge
 

About MSBMorenilla Solicitors Bureau

Today the firm MSB – MORENILLA ABOGADOS is formed by a total of 12 persons, Lawyers, accountants and assistants, all of them multilingual.

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  • Certified Lawfirm

    MSB is a lawfirm including in the list of english speaking lawyers certified by the British Embassy.If you want, you can contact here directly with the British Embassy in Madrid. Read More
  • Litigation

    We are very familiar with litigation, and before advising a client to enter into a Court Case.Our aim is to keep our clients well informed of the possibility of success. Read More
  • Conveyancing

    At MSB we help you to understand the legal implications of your decisions before you take them.Regarding to buying or selling a property in Spain, from MSB we offer you different services. Read More
  • Taxes

    Do you already have a home in Spain or are thinking about buying one?You should know the fiscal obligations you need to comply depending on your fiscal residence status. Read More
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Buying a Property.

Legal

Buying a Property in Spain

When buying a home most people think that the Conveyancing required is not very complicated, and that they do not need to seek advice about the house-buying process beforehand. Unfortunately the purchase of a property in Spain needs a highly qualified group of professionals looking after any of the various legal implications, some of them quite serious, that this could involve.

At MSB we will provide you with the information and knowledge you need regarding the different possible options so that you can decide which is most beneficial to you.

With the current economic climate it is vital that you have 100% control over your funds.

The Tax Authority has linked up with the Land Registry system and now knows who owns every property; therefore you must know what the price for tax purposes is.

Buyers usually make down payments and sign contracts without the legal assistance of a solicitor, and then end up being left in a completely unprotected position. This needs to be avoided, and a contract should never be signed without a deep study and confirmation from your Legal Firm.

 

 

Purchase Process

The study & writing of the purchase contract.

The first step of the process is to sign a private purchase contract (Contrato Privado de Compraventa) between the two parties involved. If you are purchasing a new build property this will be between you and the builder. If you are purchasing a resale property then this will be between you and the owner of the property.

The contract should include the following:

  • Full description of the two parties.
  • Full description of the property. If a new property – plans of the property, specifications of the materials, plan of the site and building permission. If it is a resale property, inscription number in the land registry.
  • Price of the property and stage payment details.

We would carry out a land registry search to verify that everything stated in the contract was true.

  • Establish the current ownership.
  • Check that the property is free of debts and other charges.
  • Building permissions.

Payments & bank guarantees. (New build properties)

For every stage payment that you make, we obtain a bank guarantee from the builder. This means that if the builder were to go bust before completing the building work, you would not lose your money

 

 
Legal

Preparing Power of Attorney

We will ask you to give us power of attorney. This is a simple process where we will send the relevant forms for you to complete in UK, or it can be signed in Spain, Power of attorney will enable us to obtain your NIE number (Foreign Identification Number) and also to complete the purchase of the property on your behalf without you being present.

Pre-completion checks

Just prior to completion we will ensure there are no outstanding debts which you could inherit with the property, such as, Council tax, electricity, water, gas and community of owners.

NIE number

This is a fiscal identification number and is required before you can make any transaction in Spain, such as purchasing a property and paying taxes. We apply for your NIE number on your behalf using the power of attorney.

 

 

 

Completion.

This takes place in the Notary’s office. If you did not grant us power of attorney we will help you to obtain your NIE number before the completion date and assist you at the notary’s office on the day of completion.

Inscription of ownership in the land registry.

Registering the deed provides the highest public level of protection.

Paying taxes

From the day of signing we have a maximum of 30 working days to pay the transfer tax due in relation to the purchase of the property.

Transferring utilities into your name

We will change the water, electricity and gas supplies into your name and set up the payments by direct debit, and also inform all other entities, such as community of owners, etc. of your address and contact details.

 

 

Wills

Legal

Wills in Spain

The heirs usually think that only the lawyer of the deceased party can undertake the probate process, which means they end up having to pay some very high fees, although they could in fact do it for a much more reasonable price.

The heirs usually think that if the deceased party made a will in their own country it must also apply to their assets in Spain, without knowing whether or not the deceased party made a will in Spain.

At MSB we help you to understand the inheritance tax implications of your decisions before you take them, thus helping you to avoid any potential difficulties.

 

 

Most people think that inheritance tax planning is not very complicated, and that they do not need to seek advice before making a will. They therefore make wills without being aware of the legal and fiscal implications. However, this is not the case as if, for example, you make a will leaving your spouse the usufruct of a property and the legal but not beneficial ownership of the property to your descendants this means that they will enjoy greater tax savings than if you leave the legal but not beneficial ownership of the property to your spouse, even though he or she then leaves it to your descendants.

At MSB we will provide you with the information and knowledge you need about the different possible options so that you can decide which is most beneficial to your interests.

The heirs might end up having to pay some very high legal taxes, because the process is much more complicated and troublesome when not having a Spanish Will.

The heirs would be required to provide several foreign documents translated and with the Apostille of La Hague (obtained from the Foreign Office, Consulate or Embassy).

 

 

Community Administration

Legal

Community Administration

Have you ever been under the impression that your administrator charges you for works you do not see any results? Surely you know of someone who complains about their administrators for not showing concern about the real problems of the community, paying limited attention, managing an unclear accountancy or not chasing big debtors. It is time to move forward to a different style of community administration in which you will obtain broad and personalised advice and involvement from your administrator’s staff. Furthermore at MSB the Community Administrators are as well Practicing Lawyers, and therefore additional legal advice on every step taken by the Community is always provided, representing an important added value.

At MSB we work to provide the most effective service in La Manga Club. With 27 years of experience taking care of most communities in the Club and with the insight perspective gained over the years, our aim is to successfully accomplish the most complex tasks of La Manga Club communities such as repairs and maintenance, general advice, accounting and debt recovery. And most importantly, your community will also count on the professional legal advice provided by Teresa and Angel Morenilla, the company’s main assets, who will provide the best advice on any community legal issues.

Our team will provide you with personalised attention and will guide you on any community aspects you are unaware of, solving any doubts that might arise in the day to day running of your community. You will realise that on most occasions you will not have to wait for the annual general meeting to see your questions answered.

 

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Tax Department

Tax Department

Do you already have a home in Spain or are thinking about buying one?

You should know the fiscal obligations you need to comply with, which will depend on your fiscal residence status.

Legal

If you are non-resident

There are two different taxes payable by every non-resident owner:

  • Local tax payable to the Town Hall annually, known as local rates (IBI). For this payment we could arrange a DD, being the tax charged automatically to your Spanish bank account.
  • National tax payable to the Government annually, known as Income tax. This tax is based on the cadastral value of the property and needs to be submitted to the Tax Office annually in arrears. We calculate the total figure every year and inform you accordingly with sufficient notice.

We provide a comprehensive and professional Fiscal Representation service, which also includes formalities and proceedings at the Spanish Revenue (Agencia Tributaria).

 

 

Apart from these taxes, there are others applicable in determined occasions:

  • Wealth tax: due to the public deficit, the Government has re-established this tax for fiscal years 2011, 2012 and 2013 under some limits:
    • Spanish assets valued in more than 700.000, 00 € minus deductions
    • Spanish assets valued in more than 2.000.000, 00 € without deductions

Nevertheless, each region is entitled to reduce the Wealth tax rate and even to approve an exemption. Therefore, depending on where the property is located, the owner will be taxed by the Wealth tax or not.

  • Rental income tax: due when a property is rented out. This tax is declared quarterly being necessary to provide a certificate of fiscal residence to deduct annual expenses of property maintenance from the gross incomes. Just the citizens of the EU are able to apply the deductions. The tax rate is 24, 75% on net income of EU citizens. The same rate applies on the gross income for citizens outside Europe.
  • Corporation tax: due when a property is owned by a non-resident company. From year 2013, just the companies located in fiscal paradises are obliged to submit this tax.
  • Capital Gains tax: In the event of selling your property in Spain as a non-resident, the buyer is committed to retain a 3% of the price from you and paid to the Tax Office as a payment-on-account. If you are making no profit on the sale, we will manage the refund of that 3% retention. The tax rate is 21% on net profit.
  • Inheritance Taxes: There is no exemption from inheritance tax between husband and wife. A tax form must be completed and the taxes paid. In Spain is the heir who is taxed and not the estate. Tax will be calculated on the relationship of the heir to the deceased, the amount of the inheritance he/she receives and existing wealth. All assets will be taxed – bank accounts, property, cars, golf shares, etc.

 

 

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