Avoiding Tax on Your New Property withOffshore Money Managers
Spanish Inheritance Tax (IHT) rules differ considerably from other countries (esp. the UK). Without proper planning, you could be faced with paying many thousands of Euros in tax when, on the death of one of you, the survivor inherits the other's half of the property. Your children will be faced with paying IHT again when they eventually inherit. Tax must be paid within six months of death and the property cannot be changed into the names of the inheritors (or sold) until the tax is paid.
On a property of €500,000, jointly owned and with two children eventually inheriting, the tax on the first death could be as much as €38,875 with a further €77,750 due when the children inherit. That's a total of €116,625 and where someone inherits from a person to whom they are not related, the tax is doubled.
Offshore Money Managers' Spanish Inheritance Tax Reduction Arrangement (SITRA) can reduce the potential tax on your Spanish property by up to 95% and also generate a regular income or release a cash sum from the capital otherwise locked up in the property.
|The Main Features are:|
||It Can Reduce Spanish Inheritance Tax by up to 95%|
||It Releases Cash from locked-in capital|
||It is Arranged on a Non-Status basis|
||It is Completely Self-Funding|
||There are No Age Restrictions|
||It is Highly Tax Efficient|
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El Corredor de Seguros es Offshore Money Managers Correduría de Seguros S.L., inscrito en el Registro Especial de la Dirección General de Seguros y Fondos de Pensiones Nº J-2126, de conformidad con la Ley 9/1992 de 30 de abril, teniendo contratada una póliza de seguro de responsabilidad civil para el ejercicio de la actividad. Andalucian Dream Homes es un colaborador mercantil del Corredor, por lo que interviene únicamente como comercializador de seguros al amparo del artículo 21 de la Ley 9/1992 de 30 abril de Mediación de Seguros Privados.
The Insurance Brokerage is Offshore Money Managers Correduría de Seguros S.L. and is registered with the Directorate General of Insurance and Pension Funds Nº J-2126, in accordance with Law 9/1992 of 30th of April, holding obligatory Professional Indemnity Insurance Cover. Andalucian Dream Homes is an Appointed Representative of the Brokerage whose activities solely include the marketing and promotion of its insurance products in accordance with article 21 of the Private Insurance Mediation Law 9/1992 of 30th of April.