EL LIMON PROPERTIES FOR SALE

The information below is intended to be of use to those not only buying a property on a permanent basis but also for those who are buying as an investment or a holiday home and it is a guide only and you are therefore advised to seek further information on a personal basis on the individual topics that may affect you.

NIE NUMBER

An NIE is an identification number, and to apply for a NIE number you will need to complete a form, very simply that requires your personal data such as your full name, address, passport number, parents names etc. and they can be obtained from your solicitor (Abogado) or Gestoria (an agency that obtains official documents on clients behalf). The completed forms, along with your passports (and a copy of your passport), should then be taken to Administracion Periferica Del Estado, Oficina de Extranjeria in Palma. In few weeks you will get your NIE number by mail.  It is essential to have a NIE number when purchasing a property, buying a car or if you intend to seek employment or when opening a bank account.

When you have the NIE, you are able to apply the residence. EU citizens are able to apply the residence all ready before receiving the NIE. Even it is not obligatory to apply a residence card it is recommendable. It is valid for 5 years and function like a identification card.

 

 

HEALTHCARE

If you are from EU country, when you move to Spain, make sure you apply, before leaving your country, for an EHIC, European health care card. However, as this may not cover you for all types of treatment and any on-going conditions or maternity care.  It is advisable in the long term to arrange private health insurance—see local press for companies that specialise in arranging insurance for expats.  The Spanish healthcare system has a very good reputation, with most hospitals being very clean and having the latest technology and equipment. In areas with a high a expat community you will usually find a doctor speaking English if only a little; however, many hospitals have an interpreter on hand, otherwise take someone with you that can speak Spanish. 

Chemists/Pharmacies are recognised by a green cross symbol and there is a rota system for out of hours opening for emergencies, chemists and times are printed in the local press. If you are on regular medication it may be advisable to find out the equivalent in Spain or have the translation available.

 

TAXES

If you intend to work here then, as in the most of the EU countries you will pay income tax and social security payments. To work you need to be registered (NIE). 

There are rates payable yearly to the department of the town hall responsible for the rubbish collection and general maintenance of public amenities.

Wealth tax is paid by anyone who has any assets here and is a small percentage of the valuation of the asset; when resident the “wealth” is usually your property and you can own property to a value of approximately 108,200.00€ tax free any valuation above this is then the wealth tax is calculated on the remaining balance.  However, if you are a non resident tax will be calculated on the total valuation of the asset of between 0.20% and 0.50% depending on type of property.  This is a general guide only and individuals should seek advice on their own personal circumstances.

BUREAUCRACY

When you arrive in Spain and start the procedures necessary to reside and work here, it will seem that there are many forms to complete and in many cases, appear to be in duplicate or triplicate, however do not despair, treat it as fun and all good experience and you will quickly get used to it.  If you need assistance it is best to seek help at the gestoria (accountant).

SCHOOLS

If you are moving as a family or planning to have a family once you are living in Spain then you will need to think about sending your children to school.   There are several international schools on the island, not only in Palma but areas that have high ex pat communities.  However the best way for your children to make friends, settle and integrate is for them to attend a local school.

BRINGING YOUR CAR

If you bring your car with you, you will be expected to change the registration plates to a Spanish plate within six months. If you do not, it could be impounded and also the insurance could be quite high.  However if you obtain your residence first (see above) then you will avoid paying import duty. There are many companies advertising in the local press that offer to assist with the change over and re-registration of a vehicle, it is advisable to contact them directly to seek further advise and obtain quotes for their work.

 

BUSINESS HOURS

In tourist areas during the summer the shops & supermarkets are open all day until late, 10.00pm or 11.00pm during July & August.  However the traditional towns such as Alcudia observe the siesta and shops & business will open 9.00am and closing between 1.00pm – 2.00pm and re-opening between 4.00pm – 5.30pm until 8.00pm – 9.00pm or until 9.30pm or 10.00pm in the height of Summer. 

Restaurants are usually open in the mornings through to early afternoons and will re-open about 7.00pm for evening meals until late.  Banks are only open in the mornings until 1.00pm or 2.00pm.

Copyright 2006 | Contact: mallorca@ellimon.com | Tel: 0034 971 54 80 41
+34 971 54 80 41