In this video, Keith from Target Property Spain and Alex Radford from My Lawyer in Spain discuss how Brexit affects British property buyers in Spain. While Brits are now classified as non-EU residents, the process of purchasing property remains the same, with transfer taxes in regions like Andalusia still at 7%.
The main change lies in residency rules. Brits can stay up to 90 days within a 180-day period, but those wanting longer stays can apply for visas like the non-lucrative visa for retirees or the Golden Visa for investments of €500,000 or more. Required documents include proof of income, private medical insurance, and a clean criminal record.
Taxation has also shifted, with rental income for non-residents taxed at 24% without deductions. However, tax residency rules remain unchanged for those staying over 183 days annually.
Despite Brexit, British buyers remain highly active in the Spanish property market, especially in regions like Andalusia. This video provides practical insights into navigating the process post-Brexit.