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Inheritance Tax & Golden Visa in Spain: Your Questions Answered by a Legal Expert

30 Apr 2024

For this month's blog, we delve into the complexities of Inheritance Tax Laws and the recent developments regarding the Golden Visa in Spain. We asked for your questions and had an overwhelming response from you, it’s clearly a hot topic out there!

Select Villas of Moraira sat down with Daniel Herranz, a seasoned lawyer with over 25 years of experience in both the UK and Spain, to answer your questions on inheritance and property tax and the Golden Visa. Based in Benissa, Daniel's firm DH Tax and accounting, specializes in providing top-notch legal and tax advice to international clients in the Costa Blanca region so you know you're in good hands!

Consulting with a local tax advisor or legal expert with expertise in Spanish real estate and inheritance tax law is essential to develop a tailored plan that aligns with your goals and ensures your real estate is passed on to your loved ones with the least tax burden possible and ensures that your property is ready to sell. Select Villas can provide recommendations of legal representatives who speak your language.


Inheritance tax, bonification between spouses and parents and children

In Spain, inheritance tax is ruled by region, instead of by the National Government. For residents and property owners in the Valencia region of Spain, the recent changes to inheritance tax laws are particularly significant when it comes to real estate assets. Real estate is often a substantial part of an individual's estate, and understanding the implications of these changes is crucial for effective estate planning.

The Valencian region enacted a new law, which applies to any inheritance tax arising from the 28th of May 2023.

Under the new regulations, in the Valencian Region, inheritance tax between spouses, or parents and children, has a 99% reduction.

To put that into figures: if someone in the past had to pay 10.000 euros inheritance tax, now they will only have to pay 100 euros, so as you can see, the tax is virtually abolished.

Please note that this reduction only applies when the beneficiary of the inheritance is the spouse, or biological parent or child of the deceased, in any other circumstance inheritance tax stays as it was.

In this blog post, we discuss the inheritance tax law in the Valencia region, and Golden Visa with a focus on how they impact real estate holdings.


Watch the Full Interview on our YouTube video for In-Depth Insights

The team at Select Villas would like to thank Daniel for his time and expertise. We trust that his insights have shed some light on this complex subject for everyone.

Should you have any additional questions regarding taxes or property law, please feel reach out to the team at DH Tax and Accounting.

And for any inquiries related to buying or selling real estate, or to request a copy of our complimentary Vendor's Guide and Buyer's Guide, designed to provide you with comprehensive assistance throughout your real estate journey, please contact us here at Select Villas.

Enjoy the full interview below.

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