News
Wealth tax has been abolished in Andalusia
Wealth tax  has been abolished in Andalusia

If you are buying a luxury real estate in Marbella ,Sotogrande or Estepona   you will be delighted to hear that wealth tax has been abolished in Andalusia 

and with the attainment of The Spanish Golden Visa buying a luxury property in the sun becomes a very attractive proposition.

In September 2022, the president of Andalucia, Spain, Juan Manuel Moreno announced the abolition of wealth tax (Impuesto de Patimonio)

Wealth tax was levied on the net value of Spanish assets for non-residents, and on worldwide assets for residents, above €700,000 according to a progressive scale of up to 3.5%.

Morano stated, the aim of this initiative was to stimulate the economy in the region by boosting the “investment capacity for the promotion of economic activity and employment.” He said that the abolishment of the wealth tax would encourage individuals to establish their tax residence in Andalucia and assured the loss of wealth tax revenues to the regional coffers will be more than compensated for by the additional income taxes and for other forms of indirect taxation generated by the initiative.

Among other tax cuts announced by Moreno is a 4.3% reduction in income tax rates and allowances for the lower brackets. He also said that water taxes are to be scrapped in 2023. After these latest changes to taxes, Moreno said that Andalucia will be the” second region with the fewest taxes in Spain.”

He explained that these initiatives are designed to transform Andalucia into a region where it is easiest to do business encouraging investment and job creation.

Moreno also vowed to remove all unnecessary red tape and unjustified delays in a bid to create a regulatory environment conducive to business operation.

Here is some useful information about Marbella .

What are the Marbella Facts that would be good to know if your  are considering  buying a holiday home or relocating here permanently?

The residents of Marbella in either a full or part time capacity love it and what’s not to love about Marbella?
Marbella has it all. The glorious warm and sunny year round climate and it’s location on the coast of Southern Spain is in easy reach of Malaga airport.

It is a wonderful mix of native Spaniards and expats of many nationalities. It is a real “melting pot” and loved by many for the ease at which all nationalities blend together, all seeking the
stunning outdoor lifestyle, the close vicinity to the sea, the marvellous beaches and beach clubs.

People come to Marbella for a host of different reasons

The wonderful lifestyle in the sun is  one that really attracts those that seek a mix of everything.
Sports facilities on your doorstep are also a great draw.

The ability to play year round Golf, Tennis or Padel is very attractive as in many counties this is more difficult in the colder winter
months, or perhaps not as pleasant. Who wants to play golf in the rain or cold when you can play most days in Marbella?

Marbella even has a neighbourhood aptly names “Golf Valley” as there are so many superb golf courses in close vicinity to one another.

Golf course like Los Naranjos www.losnaranjos.com www.losnaranjos.com Las Brisas  https:// www.realgolflasbrisas.com   and Aloha golf www.clubdegolfaloha.com are all firm favourites and have many international members who join them, not just to play golf on the immaculately groomed courses , but to enjoy a vibrant social life as well .

Indeed, many of these courses also have social members who enjoy the superb facilities the clubs have on offer, such as excellent restaurants, bars and a year round calendar of well supported events

The Scandinavian community are particularly fond of Los Naranjos, however all of these golf courses are open to all to visitors who pay day rates to play on their well kept fairways .

Marbella also has many five star hotels such as the world renowned Marbella Club www.marbellaclub.com which has been frequented by the rich and famous for many years, The stunning Puento Romano Hotel and Resort www.puentoromano.com with its eclectic mix of fine dining restaurants and Bars such as the glorious Sea Grill restaurant which overlooks the Mediterranean Sea.

A recent addition is the Nobu Hotel marbella.nobuhotels.com owned by Holywood actor Robert de Nero. There is also La Suite nightclub in the Puento Romano Hotel which is chic, very international and draws a fun loving international crowd of all ages.

The Beach clubs in Marbella such as Nikki Beach http://marbella/nikkibeach.com and La Sala by the Sea are also very popular in the summer months.

Marbella is vibrant and energetic. The older part of Marbella is famous for its narrow streets, individually owned Spanish shops and the famous Orange square full of beautiful orange trees and
traditional Spanish restaurants with local cuisine.

However, Puerto Banus is the place to be seen. Super yachts are lined up in the Marina, Some are here for many months, but others are visitors from Monte Carlo, Ibiza and a host of other countries .

Puerto Banus is surrounded by designer shops and the vast majority of haute couture designers have shops here.

Such as Luis Vuitton, Chanel, Valentino , Dolce and Gabbana and Bulgari to name but a few.

Puerto Banus also has many restaurants with international cuisine and lively bars which are a favourite of “people watchers” who enjoy the spectacle of watching the world go by and viewing the locals or visitors who come to shop or eat or enjoy a cocktail.

Marbella is full of glamour and the place to be seen – not really for “shrinking violets” as there is much to do and enjoy.

Property for sale in Marbella
Luxury Partners Real Estate
Marbella Luxury Property of the Month
Marbella
Downsizing to Sotogrande or Marbella
Holiday properties for sale in Marbella
The Digital Nomad Visa for remote working in Spain
Skiing near Marbella

About Marbella
About Sotogrande
Property for sale in Marbella
Property for sale in Sotogrande.

Get In Touch