Statement of Investment to Canary Islands

Possible uncertainties, which may arise in one who is interested in making an investment property in the Canary Islands is passed, the awareness to move towards:

· Good weather all year
· An enviable quality of life,
· Preservation of the value invested,
· Profitability purchase.

These are the main drivers of the success of the proposed building in the Canary Islands.

Not underestimate the tax regime which facilitates the attractive investment opportunities in foreign markets.

The reasons for the small medium enterprise, and any other type of investor, takes an investment property abroad, are essentially two:

· Many investors and holders of certain assets, such as German, French, Italians, Scandinavians (Norwegians, Swedes, Finns), Irish etc., Aim to diversify the types of investments.

· The goal of acquiring a property as a second home or holiday home abroad in a nation economically and politically stable, can be included in a European context

The type of investors are divided mainly into these categories:

· Europeans in retirement age who buy a property in order to ensure a climate optimum and only during the autumn-winter, generally from October to around April.
· People who wanted to crown their dream of owning a holiday house in the Canary Islands.
· Investors accustomed to place their savings or develop their own policies of expansion and diversification of its assets and identifying the Canary Islands indicated an Area for such purposes.
· Professional real estate that without the necessary evaluations have identified a suitable area in the Canary own purposes.
Investors who · VIP ed'Elite taking into account both the political stability, economic climate and acquire properties of merit and prestige for their own use or for purposes of representation.

Gran Canaria and Tenerife, being the most southerly islands of the archipelago Canario, enjoy the best and different microclimates, as well as a wide range of urban contexts in continuous growth and development, therefore, represent the two main islands both in terms of tourists and real estate investments, where it is easy to find the right solution for your needs.

As the island of Tenerife has been more "commercial", but more similar to some Italian localities because of previous and different urbanization, The island of Gran Canaria offers a greater well-being and relaxation and is distinguished by the best climate for the only sandy beaches (Mas Palomas) in addition to the services dedicated to golf (International Golf Mas Palomas), as well as water sports (sailing, yacht, fishing) and cultural and sporting events in general.

Gran Canaria offers better urbanization, with better real estate opportunities and solutions even more sought after, for a more varied type of investor is selected, however with a profile and status "high", and the areas dedicated to VIP and luxury lovers with all the services attached to this world, in addition to areas specifically designed to accommodate or offer a home from the worlds of politics, business, sports and entertainment.

Lanzarote and Fuerteventura are islands that have always set the policy on tourism and real estate to the enhancement, protection and preservation of the area, creating a popular residential or investment more refined, with a market average more expensive for smaller properties (single or terraced house) than to the average apartment complexes is that great, but more residential character.


According to data collected at the Association building contractors for the Canaries, the increase in asset value of a property fluctuates around an average of 7%.

The viability of a property through the rents still stands at 4%.

Tax Statement

The Canary Islands are incorporated into the customs territory of Europe, and VAT will not have to submit application 'for any of the existing special taxes within the EU.

IGIC is applied that is the direct tax canaria, replacing the VAT under a mandatory system with a lower percentage that varies from 2% to 5%.

The Canary Islands enjoy an economic and tax system (REF) differential that favors the economic and social development of the islands and compensates for the effects of insularity.

The REF canario contains a series of fiscal incentives for the creation and development of entrepreneurial activities covered by Spanish law and authorized by the EU institutions:

1. Exemption of tax on transfer of assets related instruments and documents for the newly created companies that are domiciled in Canary extend, modernize, or moving house.
2. Exemption 's IGIC (Canarian VAT) for the purchase of capital goods.
3. Reduction in the taxable value of the 'corporation tax to 90% of retained earnings for all' purchase of property in new or used Canaria (reserve for investment).
4. 50% discount on the share of 'corporation tax and on' corporate income tax derived from sales of products generated in the 'Canarian Archipelago, specifically for agricultural activities, industrial, livestock and fisheries (consistent with the reserve for investment).
5. Discounts on 'Set on society and' corporate income tax for investments made in Canaria.
6. The indirect tax IGIC is similar to 'VAT, but may reach a maximum of 5% in some applications is reduced to 2%, while others are exempt, for example, telecommunications services.
7. Le isole canarie sono integrate nel territorio doganale europeo, e non devono sottostare all'applicazione dell’IVA ne’ di alcuna delle tasse speciali esistenti all'interno della UE.

How to Make an Investment to Canary Islands

If you plan to buy a home in Gran Canaria in Spain in particular, real estate House Project sas connected to another real estate agency in Gran Canaria, through staff professionals, lawyers specialized in international law, he will be at your complete disposal in helping you choose the apartment or property and you will follow step by step before, during and after the sale of property.

The types of real estate solutions 
Luxury real estate, value and prestige. (Villas, Palaces, Estates, manor houses, ancient houses)
Buildings or tourist use - residential (apartments, bungalows)
or property for residential use (houses and homes, terraced houses, villas and cottages singles)

Request number N.I.E. (Número de Identificación de Extranjeros)
All owners must apply for non-Spanish NIE number (Número de Identificación de Extranjero) is the identification number, a kind of tax code that is bound to foreign nationals who have the interest (ownership, development activities, second home etc.. Etc..) Spanish territory. This document is required to open a bank account, buying an asset (car, property, etc.. Etc..) And is mentioned in all the instruments (eg incorporation of companies) or private (lease agreements, etc.. Etc..) .
Professionals and staff of our agency will assist you in acquiring the NIE issued by local police offices or other government offices.

Make a bank account for financial transactions and to possibly apply for funding.
Our Partners site will help you choose the bank with the best option according to the needs and the language spoken by investors, and to complete all the steps to open a bank account, establish a home for bank charges and all payments in general, assist in applications for bank financing.

E 'possible to obtain mortgages on properties that you go to buy the Canary Islands without this having consequences on his current home in Italy or other assets located abroad.
His new property will be the guarantee for the mortgage loan.
Our colleagues in the Canary Islands have preferential relationships with the Banks in order to grant you access to those services to best market conditions.
 
Legal Advice and Legal
Where:
or you want to buy his own behalf or on behalf of children with a life interest in his favor?
or prefer to buy through a company incorporated in Italy, or is more convenient to set up a new Spanish company with limited liability?
Our agency, with professionals who work with us in Italy and Spain, will help to make this choice in order to further reduce the amount of fees and taxes payable.
The Canaries, which are part of the European Community, offer interesting advantages with regard to the payment of taxes.
Available names of lawyers and accountants who speak Italian and who are informed about the Spanish law and that of other foreign countries.

At the request of the purchaser, the same may be assisted by a lawyer specializing in international law, established in Italy since the beginning of negotiations until the conclusion of the act of sale.

Choosing · Notary and assistance

As will be formalized and made official in the Canaries my purchase?
As in Italy, even in Spain, the act of sale is through "deed" drawn up by a Notary (Notario). The deed is duly recorded.
Choose the type of investment you like, you must advise the Notary to draw up the contract of sale.
The customer will also witnessed the date of the notarial deed is assured that the registration in the cadastre of the deed as agreed.
The client may also appoint, by proxy "Poder"., A legal representative signed on its behalf because the contract of sale.

The Notary will feature

or check in the land register, the actual owner of the dwelling (construction company, property developer or private) with which we are going to conclude the purchase contract.
or verify the existence or otherwise of tax liens or mortgages on real estate for sale.
or describe the total price of the accommodation
or state in the measure of the total surface area of the house built.
or indication of the date of possession (delivery of the property)
or Check the copy of the technical design approved, a copy of the building permit and the certificate on behalf of urban builder or current owner, issued by the municipality where the building is located, so you can determine that the construction company has complied with all legal requirements established by
Colcolo or VAT and taxes necessary to purchase the property.
or required by law to endorse the prepayments

· Necessary expenses

Consider the cost of notary (500-600 euros), and other expenses related to taxation, for the transfer tax asset that we should support are the following:

registration fees or to register the property.
or documentation fee equal to 0.5% respectively.
or tax on transfer of real property currently at:
> 5% of the official purchase of property owned by the manufacturer for new construction.
> 6.5% if you purchase a property from a private property or used.

or annual costs: IBI tax (Impuesto sobre bienes inmuebles) and the property tax on property in Spain.
or "Plus Valia" This is a value added tax of the property or land.
This tax is calculated on the basis of annual growth rates from the previous sale.
The rate, usually, is equal to about 8 / 10% to the price of purchase.
The Spanish law (which are obviously also subject to the Canary Islands), determines that the seller to be forced to pay this tax.

· Ancillary Costs
I have to cover other incidental expenses?
If the property is located in a disputed home ownership, as regards space, utilities and common facilities such as swimming pool, tennis courts and more), it is the duty of every owner to support incidental expenses related to expenses.
The agreed amount must be paid monthly to the Association of Owners (Comunidad de Propietarios)) which is regulated by special statute and convene regular meetings of the rights holders and duty.

• 
  Commercial real estate for residential
   

The property that has not been acquired residential purposes, as this is considered the eyes of the Italian tax authorities?
The matter is regulated by international conventions "Italy-Spain."
The N.I.E. (ID Number Extranieros)
  as described, must be acquired before buying a property in Spain (or to start an economic activity, etc.. etc..), and issued by local police offices or other government offices and requested the notary at the time of the deeds.

• Income derived from investment in the Canaries
  
  

The income that I derive from my real estate investments, as they are regarded by the Italian tax authorities?
This aspect is regulated by international conventions "Italy-Spain."