Long Term Rental Wanted - 12 month basis

Posted: Mon Sep 17, 2018 4:40pm

2 replies48 views3 members subscribed

Sean321

Posts: 3

1 helpful points

Location: Orihuela Costa

Joined: 17 Sep 2018

Hi,

Myself and soon to be wife are looking to relocate to the Orihuela Coasta area in January 2019. We are looking for a long term let on a 12 month basis. Preferably a 2/3 bed property with pool, in Playa Flamenca, La Zenia, Punta Prima, Cabo Roig or surrounding areas.

If anyone can point us in the right direction with the finding a long term let or any general advice and guidance would be much appreciated.

Many Thanks,

Sean

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Posted: Mon Sep 17, 2018 11:49pm

tebo53

Legendary helpful member

Posts: 4816

5013 helpful points

Location: Benidorm

Joined: 29 May 2018

Posted: Mon Sep 17, 2018 11:49pm

For a 12 month rental in Spain you need to look at the legal implications. Legally you need to sign on the foreigners register and obtain your NIE number before the first 90 days. After 183 dsys you will automatically become tax residents and are required to pay taxes to the Spanish tax man instead of HMRC. You will need to prove to the authorities that you have enough regular income paid into a Spanish bank account so you will not become a burden on the state. You will also need full healthcare cover for yourself and all dependants.

You are required to fill out modelo 720 and declare your total worldwide wealth including amounts in bank accounts and any property ownership in any country in the world.

Those days have long gone whereas you can holiday in Spain without financial consequences. A lot of the regulations are because of money laundering and long term visitors have to prove who they are and where their money is coming from.

There are massive finds for non compliance to the rules so for your own sake please check out the requirements.

Steve

Posted: Tue Sep 18, 2018 4:22pm

Sean321

Original Poster

Posts: 3

1 helpful points

Location: Orihuela Costa

Joined: 17 Sep 2018

Posted: Tue Sep 18, 2018 4:22pm

Thanks Steve,

We've already obtained our NIE numbers and were also aware of the health insurance. I'm planning on continuing to trade with my Ltd company in the UK as my income so I'd need to look into the modelo 720.