Inheritance process in Spain

Sooner or later, loved ones die, leaving behind not only fond memories and slight sadness, but also acquired assets. When we do not have a plan in place for these acquired assets, many problems may occur.

Registration of inheritance is a laborious and time-consuming process that does not tolerate delay. This is especially true when all or part of the property of the testator is located in Spain.

The procedure for entering into inheritance in most civilized countries is determined by the laws of the country where the testator had an extreme, permanent place of residence. Nevertheless, the procedure for entering into property located outside the country is governed by the processes of the country where it is located.

Today we would like to consider all the nuances of inheriting property in Spain, when the heirs have already entered into their rights according to the laws of their country (for example, the Russian Federation, Belarus, Ukraine, Kazakhstan, etc.).

TIME

In Spain, you must have time to enter into an inheritance up to 6 months after the death of the testator. If this is not done, then it will affect the payment of inheritance tax with interest ranging from 5% to 20% plus penalties for late entry. This is the main, but significant difference from Russia, where in case of untimely entry into inheritance, the heirs will not be subject to a fine.

That is why, it is advisable to start working with lawyers as early as possible, because during the first 5 months from the date of death of the testator, you can ask the tax by installments for another 6 months and not be fined.

DOCUMENTATION

To inherit property located in Spain, you will need to prepare the following documents:

NIE heirs certificate
Death certificate of the testator
Inheritance certificate
Will, if any
Documents confirming relationship
Documentation for property located in Spain

Is it possible to formalize the entry into an inheritance in Spain without arriving in the country?

Yes, in this case you will need a power of attorney for the representative.

TAXES

Inheritance taxes in Spain differ depending on the region where you inherit or where the property is located. For example, in Andalusia and Madrid, a 99% bonus is applied to the tax base, so the heirs will pay less than 1% of the real value of the property upon inheritance. In Catalonia, you can easily pay 25% for the inherited property, of course it all depends on the amount of the inherited mass.

!! Also, do not forget about the timing of the inheritance and penalties in case you entered the inheritance at the wrong time.

!! If you inherit a property, in addition to the inheritance tax, you still have to pay the Tax plusvalía on the gains in the value of land upon change of ownership.

The process of entering into an inheritance in Spain is quite bureaucratic and requires the accompaniment of a qualified lawyer and tax officer. Our company ProSpain consulting has been specializing for a long time in the inheritance of our citizens for property located in Spain:

We know very well what a package of documents from your country of origin should be.
We will help you to prepare the documents correctly in advance, so that later on the spot you will not have any problems with the registration of the inheritance.
We will advise you on inheritance taxes in your case.
If possible, we will provide options for optimizing tax payments.
Especially in the current realities and difficulties when entering the country, we can represent your interests in Spain by power of attorney.