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Lawyers Info - Balms Abogados
We welcome this opportunity to give all the readers of this magazine a better understanding of Spanish law as it pertains to all aspects of real estate transactions.In this issue, and in future editions, we will cover the legal requirements governing purchase and sale, the relevant costs and taxes relating to the sale and the correct procedures regarding the maintenance of the property.
To this end, we will be contributing a series of helpful articles dealing with subjects including the Notarial and Registration system in Spain, Title Deeds and Registry, costs and taxes of a purchase, municipal and state costs and taxes, municipal rates (plusvalia), the advantages and disadvantages of Spanish limited companies, retention of the 5% preliminary capital gains tax and other related topics.
It is important to point out that the legal information and advice we offer are aimed at lay-people who are not legal experts but who simply want clear guidelines that will be of practical use and assistance to them in their property dealings.
To ensure that the articles are easily accessible to all, we aim to avoid legal "jargon" or complex concepts that could confuse readers or cloud their comprehension!
It is our intention as lawyers to enlighten readers about their rights and obligations under the law, through this series of articles.It should be stated at the outset that the information we will be giving is in no way intended to be a substitute for consulting a legal or fiscal advisor.
For this reason, we recommend that when acquiring a property in Spain it is advisable that you use the services of a reputable real estate agent active in the area, in conjunction with the services of a prestigious lawyer or legal firm located in the area where the transaction will be effected.
We hope that this series of articles, combined with our experience and expertise in Marbella, Madrid and indeed world-wide where we have affiliate offices, will prove both interesting and enlightening.
Juan Luis Balmaseda de AhumadaBalms Abogados The Costa del Sol has recently become one of the favourite tourist resorts for European citizens, although the short seasons have limited profits for some tourist complexes.
For the last ten years, and especially during 1999, the local tourist season has increased to a nine month period, promoting the creation of new facilities and tourist complexes, most of them financed with foreign money.
These foreign investments in Andalucia are one of the principal economic resources for the region, creating an increase in business and employment.
One example is that more than 20% of the Andalucian PIB comes directly from tourist related activities.
For this reason, the Junta de Andalucia is promoting foreign investment in the tourist sector in order to increase the economic viablility of legitimate business opportunities, job creation and the general development of the Andalusian economy.
In particular, the "Consejería de Turismo y Deporte" of the Junta de Andalucia is offering fiscal grants for both private and public companies.
Although the requirements for this aid (year 2000) is going to be simplified, detailed below is a brief summary of the assistance on offer.
The applicants can be either private entities, small or medium- sized companies, cooperatives, societies, associations, institutions, non- profitable private entities, etc. However, we will concentrate on the private sector.
The scope of the private sector is ample, such as reformation and modernisation of hotels and tourist complexes; creation and development of tourist accommodation in the countryside, new tourist packages, human resources, improvement of educational infraestructures, development of security systems, formation programmes for professionals using advanced technologies, creation of accommodation on the coast and in consolidated tourist areas, modernisation of technologies used in travel agencies, reformation and creation of new restaurants of high gastronomic interest.
The amount of economic aid in the private sector will not exceed 30 % of the investment budget in general, and no more than 50% of human training costs.
It is a condition of the aid that the project has not already been completed and that it is started or is to be started in the year you apply. Besides, the approved projects will have to be focused on tourist service for a period of between 2 and 5 years.
The aid can be paid in one or more installments, according to the above. Last but not least, grants can be taken in conjuction with other aid packages, providing that the total amount received for the private project is no more than 60% of the total, in accordance with EU rules.
In future articles we will comment on other types of grants and also those offered by the Social Security to encourage employment. Julio Aguado Balms Abogados
+34 952 818 000
e-mail: info@wasa.es