Today we will look at buying/owning a property in a company name. What it means and is it worth doing? Plus scroll down to see a bungalow style villa (all on one floor) that is really popular right now.
Buying a home in a company name means just that. Rather then putting the property in your personal name you would use the name of a company. This could be for anonymity for example if you are a famous person you could use a business name that people wouldn´t recognize in the hope that people wouldn´t find out where you live so easily. Or maybe you are not buying it solo but with different members of the company where each of you get to enjoy the property at different times of the year for holidays.
You can't also deny that a big reason for also doing this is to save money on tax. As an individual you are expected to pay income tax, wealth tax, inheritance tax should you wish to give your home to a loved one after you die. Companies do not have to pay this and it is also more difficult to trace the individual owner. Their are many stories of people saving a lot of money on tax in the 70´s, 80´s and 90´s by buying a property this way.
So is it still worth buying a property in a company name today?
We would always recommend you speak to a local lawyer/accountant to assess each case as each individual is different and it is not a one size fits all scenario
The laws are constantly changing and a lot of the aforementioned advantages about saving money on tax are not really effective today.
Companies must report to Spanish authorities any change of shareholders and information on the beneficial owner must be disclosed in the annual account records. Companies are not subject to wealth tax but the individuals behind them are. However, a new ruling in December of last year states that none residents owning property through a foreign company are not subject to wealth tax regardless of country of residence and tax treaty.
As you can already see it is quite a complex matter and we are just scratching the surface here that is why we recommend speaking to a local lawyer/accountant who´s job is to keep up with the ever changing laws and can best advise you on your best solution. Each case is different since perhaps your purpose is not to save money on tax. Maybe the property will be owned by not just one person but a few people and by placing it under a company it will help you keep management of it more efficiently and fairly. It could also be the case that it is actually a business investment where you buy properties and rent them as a business. There may be also other reasons you would want to buy a property in a company name. So as said before it really is better to speak to an expert to find out what your best solution is when buying a property.
Bungalow Style Villas
We get a lot of requests for villas where it is in the style of a bungalow (all on one floor). Whether it be that they have a disabled family member that cannot use the stairs or because they have painful knee joints and it hurts to walk up the stairs. Some people just like that style. We just recently uploaded a video of a villa in exactly that style, so all the bedrooms and kitchen etc. are all on one floor. You can see how popular they are since there are already only 2 units left! So if you are interested in this style of villa then you need to act quick.
The villa offers great living room/open kitchen plus 3 en suite bedrooms on the ground floor with an amazing swimming pool and garden on the side of terrace. The basement also offers another bedroom, laundry room and a large private car park for at least 4 cars. The villa is fully maintained by the community including taking care of the garden and the swimming pool. This villa is also conveniently located close to shops, restaurants and the beaches. View on our website to see full description and what the finished product will look like:
Not for you? Here is a video of another video we recently uploaded. Also don't forget to subscribe to our YouTube if you don't want to miss future uploads! Click the notification bell so you hear when we upload any new video.
This wonderful villa is located in a privileged location, a luxurious development, located on the first line of golf in Marbella East. The villa has been meticulously designed with a modern and contemporary style, but at the same time with a functional distribution, which allows you to enjoy a comfortable and pleasant villa, where you can enjoy stunning views of the Mediterranean Sea and the golf course.
Not seen what you are looking for, email us with your requirements and we will respond with a suitable list of properties.
A quick time lapse video of Marbella Paseo 2021:
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