We’ve been asked this question frequently over the past couple of years: Can British citizens still buy property in Spain after Brexit? The short answer is yes, you absolutely can! Brexit hasn’t affected your right to purchase property in Spain, even though your EU citizenship status has changed. Moreover, the associated costs remain the same as before Brexit. This includes transfer taxes, notary fees, property registry costs, and other related expenses.
So, what has actually changed? Keep reading to find out everything you need to know about buying property in Spain post-Brexit.
Although British Citizens Can Still Buy Property in Spain, Some Things Have Changed
While Brexit hasn’t impacted the ability of UK nationals to invest in Spanish real estate, several important changes have come into play that potential buyers should be aware of. Here’s what’s different and how it may affect your plans.
Brexit Consequences on Residency for UK Buyers
British citizens can still visit Spain for up to 90 days within a 180-day period without requiring a visa. However, staying longer now comes with additional considerations:
For those considering living in Spain year-round, exploring visas such as the Non-Lucrative Visa, Digital Nomad Visa, or Entrepreneur Visa could be a smart option. To learn more, check out our guide on Spain’s Golden Visa Withdrawal.
- Residency Application: If you plan to stay in Spain for more than 90 days, you’ll need to apply for residency. This involves meeting specific requirements, such as proof of financial means, private health insurance, and more.
- Tax Residency: Spending over 183 days in Spain within a year establishes you as a tax resident. This means you may become liable for tax on your worldwide income under Spanish law.
For those considering living in Spain year-round, exploring visas such as the Non-Lucrative Visa, Digital Nomad Visa, or Entrepreneur Visa could be a smart option. To learn more, check out our guide on Spain’s Golden Visa Withdrawal.
Tax Rates on Rental Income for British Citizens
If you’re planning to rent out your Spanish property, there’s a key tax change to consider.
Additionally, post-Brexit UK nationals are no longer eligible for certain tax deductions on rental properties that were previously available to EU citizens.
- Pre-Brexit: As EU residents, UK citizens were taxed at a 19% rate on rental income in Spain.
- Post-Brexit: UK citizens now fall under the same category as non-EU nationals, meaning a 24% tax rate applies to rental income.
Additionally, post-Brexit UK nationals are no longer eligible for certain tax deductions on rental properties that were previously available to EU citizens.
Wondering if you can get a mortgage from a Spanish bank to finance your property in Spain? Check out our post to explore mortgage options for non-residents.
While Brexit has introduced changes, investing in Spanish real estate remains a viable and attractive option for UK citizens. Whether you’re considering buying a holiday home or an investment property, understanding these updates will help you navigate the process more confidently.
At UTRUST, we’re here to guide you through every step - whether it’s applying for a mortgage, navigating tax implications, or securing residency. Contact us today at info@utrust.es for tailored advice.
At UTRUST, we’re here to guide you through every step - whether it’s applying for a mortgage, navigating tax implications, or securing residency. Contact us today at info@utrust.es for tailored advice.