Posted by & filed under Marbella - Estates.

Just five months after opening its first branch office in Europe in Barcelona, Crystal Lagoons has announced the company’s first project in Spain, “Alcazaba Lagoons”, located at Caseres, in the Western Costa del Sol region, close to Estepona and Marbella.

Crystal Lagoons recently announced its first project in Spain, located in Spain’s Costa del Sol, the third most-visited tourist destination in the world and one of Spain’s premier destinations. “Alcazaba Hills Lagoons” will be the company’s first project in Europe. The crystal-clear lagoon developed by Crystal Lagoons’ technology will be the main attraction of the project and bring a new life to this development that was on hold for many years with little sales.

Located on more than 74 acres of land, in the Caseres municipality, Malaga, and close to famous tourist destinations such as Estepona and Marbella, the second-home development sees many European tourists, mainly from Germany, the U.K., and The Netherlands.

The development will feature an almost four-acre crystal-clear lagoon that is ideal for swimming, kayaking and other water sports to be done in a safe and clean environment. It will also have 450 apartments with a surface of 112m2 each, of which 100 are already built. 350 new apartments will be added to the development.

The 121-million Euros is being developed by Crystal Lagoons in partnership with major Chilean investors, who understand the value that Crystal Lagoons brings to real estate project. That is why they decided to implement this concept and technology in Spain, in order to bring new life to this project.

In addition to “Alcazaba Hills Lagoons,” the multinational company is also negotiating other development projects in different regions in Spain, such as Catalunya, Valencia and Andalucía.

In Europe, Crystal Lagoons has offices in Barcelona and The Netherlands where they are planning to announce projects in Portugal, France, Italy, Greece and Croatia.

“Alcazaba Hills Lagoons is a testament to Crystal Lagoons’ innovative concept and technology, that can successfully revitalise stagnant projects that were previously on hold due to lack of sales,” said Sebastian Pillado, Crystal Lagoons’ Regional Director for Europe. “We have certainly seen this happen already in other developments around the world and look forward to bringing the technology to Europe with this first project.”

Crystal Lagoons is an international innovation company, founded by scientist Fernando Fischmann, which has developed a patent-protected technology that allows the construction and maintenance of unlimited-size crystal clear lagoons at very low costs.

Posted by & filed under Marbella - Lifestyle.

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Photo – Nikki Beach Marbella

In an article, in the newspaper, El Pais, they write that Spain as the defending champion has managed to hang on to the throne. For the second time in a row, its tourism sector ranked as the most competitive in the world, according to the World Economic Forum, an international organization bringing together political and business leaders that are famous for its meetings at Davos, Switzerland.

The group’s Travel & Tourism Competitiveness Report 2017: Paving the Way for a More Sustainable & Inclusive Future, which covers 136 economies, grants Spain a top score of 5.4 on 7 on its Competitiveness Index, bettering France and Germany, which ranked second and third respectively.

Also in the Top Ten category are Japan, United Kingdom, United States, Australia, Italy, Canada and Switzerland.

Published every two years, the report highlighted Spain’s good infrastructure, high-security levels and rich cultural resources. Its low point was its business environment.

“Spain’s success can be attributed to its unique offer of both cultural and natural resources, combined with sound tourism service infrastructure, air transport connectivity and strong policy support,” says the report. Spain has also “benefited from the recent ease of its fiscal policy, and by the redirected tourism from the Middle East and parts of Western Europe, affected by security concerns.”

Spain has been climbing the tourism competitiveness ladder quickly: in 2011 it ranked 8th; by 2013 it was in 4th place, and in 2015 it took the world title.

The report analyses 14 key areas divided into four categories: Enabling Environment, Travel and Tourism Enabling Conditions, Infrastructure, and Natural and Cultural Resources. While Spain did not get a top score in any of the 14 areas, it did secure a high grade in all of them, averaging 5.4 out of 7, compared with 5.31 in 2015.

Spain was praised for its good airport connections.
Spain was praised for its good airport connections. CARLES RIBAS
Out of the 14 areas, the lowest score was for price competitiveness, but this is not necessarily a bad thing: it simply means that Spain is not the cheapest destination in the world. In this department, Spain is trumped by countries like Iran, Egypt, Malaysia or Algeria.

Another more worrisome low score was for the business environment in Spain, which analyses the difficulties of starting businesses, investing and hiring workers. “The business environment can be improved, as dealing with construction permits remains burdensome, and there is room to increase international openness further,” warns the report. On this front, the winner is Hong Kong, which is followed by Singapore, Switzerland and the UK.

The report also notes that Spain’s air infrastructure is among the world’s top nine, but that “while Spain’s ground transportation is ranked in the top 15 economies, it has started to show signs of initial decline, suggesting that upgrades and modernizations are expected.”

Posted by & filed under Market & News.

A leading luxury hotel chain is to open an establishment in Marbella. The W chain signed an agreement with the Platinum Estates investment group, which is developing a project in the area of the sand dunes at Real de Zaragoza, to manage the hotel, which is expected to open in 2021.

There had been rumours that the investment group, based in Singapore, and the hotel chain, one of the most important in the world’s luxury sector, were planning to join forces on an important project, but due to a confidentiality clause, neither party to the agreement wanted to give any details until the deal was signed and the official announcement was made in Hong Kong.

The mayor of Marbella, José Bernal Gutiérrez, was at the former British colony for the presentation of this major investment by one of the world’s most exclusive tourism firms.

The site of the new hotel, near Real de Zaragoza beach.
The site of the new hotel, near Real de Zaragoza beach. / Josele-Lanza
The hotel chain is part of the Starwood-Marriott conglomerate, the two giants of the American hotel industry who emerged in September last year. In total W, which is Starwood’s luxury brand, has more than 60 hotels on the five continents.

At present the W chain has just one hotel in Spain, the famous ‘candle hotel’ in Barcelona port, and according to its website, it will be opening another of the same group in Madrid in June 2019. The new luxury hotel in Marbella will, therefore, be the chain’s third in this country.

W originally planned to announce the plans for this new hotel during the World Travel Market last November but decided to wait because some delays in planning permission needed to be resolved.

Although the hotel will not be in operation until 2021 its beach club will almost undoubtedly open much earlier. The company needs to start its marketing at least two years beforehand, so it has asked Marbella town hall for a guarantee regarding the timescale for granting the licence of the work, so the construction can begin according to schedule.

In recent weeks there has been significant progress in the town planning processes which were still pending at that time, and the developers believe the licence of the work could be issued by May of next year.

This would mean that the first phase of the project could be inaugurated in 2019

Read the full article in SUR

Posted by & filed under Marbella - Lifestyle.

2017 Season Opening, April 14th

At Nikki Beach Marbella we welcomed the 2017 Season! 6 elements, 1 concept #Dining #Fashion #Film #Art #Music #Entertainment

Posted by Nikki Beach Marbella on Friday, 21 April 2017

Posted by & filed under Market & News.

According to an article in OlivePress profits tripled in the fourth sector in 2016 to a total of around €1.4 billion.

This is a drastic increase from last year’s profits of 407 million, and isn’t far behind 2007’s registered profit of €1.6 billion, signalling a return to the market seen in the country before the financial crisis.

Profits recorded come from sales both in the residential and in the office and retail sectors along with price increases and rental income.

House prices have increased by 11% from the lows registered in 2014, although they still offer a 30% reduction compared to the year before the real estate bubble burst.

Posted by & filed under Market & News.

Tax in Spain is a very complicated affair, and there are potentially severe fines and penalties for anybody who fails to declare and pay the correct tax in Spain.

Given that Spain has become the most popular destinations for to relocate to anywhere in the world living in Spain, understanding the many different taxes in Spain is vital. Staying abreast of tax in Spain is made harder still by the Spanish government who is regularly changing its tax rules, and often those most affected are expats holding significant assets abroad.

It’s, therefore, important to remember that the information found in this article is only a guide, and before making any decisions or submitting any tax returns in Spain, you should seek independent advice, which you can do by entering your details using the form and we will arrange for an expert in both Spanish and UK tax to provide a free consultation.

The Spanish Tax Year
The first thing to know is that, unlike in the UK, the Spanish tax year runs from January to December.

Spanish tax treaties with the UK
In 2006 Spain signed a double tax treaty with the UK which means that you should not have to pay tax twice on the same income, and you should only pay tax in the UK or Spain.

Foreign asset reporting law in Spain
Since March 2013, if you live in Spain and own assets more than €50,000 outside of Spain you are required by law to declare those assets (up to the 31st December of the previous year) to the Spanish government by the 31st March each year (from 2014 onwards).

Failure to correctly declare any offshore assets could incur severe penalties or even a criminal charge (if the tax avoidance is more than €120,000).

The purpose of the law is to reduce the amount of tax avoidance while also maximising Spanish tax revenue, primarily from expats living in Spain.

Assets which are required to be declared include, but is not limited to:

Assets held in any bank accounts
Property
Shares
Life insurance policies
However, the assets may be able to benefit from a variety of tax-efficient vehicles which could help you reduce any unnecessary tax payments.

If you are unsure what you need to do, or you have failed to declare any assets you should seek advice from a Spanish tax expert.

Am I a tax resident in Spain?
Typically you would be considered a tax resident in Spain if one or more of the following apply to you:

You have spent more than 183 days in Spain within a single calendar year regardless of whether you are formally registered
Your primary professional activities are conducted in Spain – essentially if you are self or otherwise employed in Spain
Your main interests (eg your spouse or children who are still dependent on you) live in Spain
These rules have been simplified for illustrative purposes, so if you are unsure you should always seek advice from a Spanish tax expert.

Income tax in Spain
At the most basic level, Spanish tax residents are liable for to pay income tax on their worldwide income, once personal allowances have been taken into account.

However, a non-resident of Spain is only required to pay tax on any Spanish income (such as rental income from a Spanish property). The income tax for non-residents is charged at a fixed rate and there are no personal allowances or deductions.

It is, therefore, important to understand whether you are a tax resident in Spain or not as it will have a significant impact on the Spanish income tax you are required to pay.

Under Spanish tax rules, your income is split into two main categories: income from general activities and income from savings. The total income from each category is classed as the base, after which deductions and allowances can be made.

Spanish tax on income from savings

As previously stated, if you are a Spanish resident you will be taxed on your worldwide income from your savings, regardless where the savings are based.

Your savings income includes any income from:

Interesting from savings
Dividend payments
Income from life assurance policies
Income from annuities
Gains made from the disposal or transfer of assets
The Spanish tax rates for savings income in 2015 are as follows:

Spanish tax rate on savings income up to €6,000: 20%
Spanish tax rate on savings income from €6,000 to €50,000: 22%
Spanish tax rate on savings income over €50,000: 24%
These Spanish tax rates change as follows from 2016

Spanish tax rate on savings income up to €6,000: 19%
Spanish tax rate on savings income from €6,000 to €50,000: 21%
Spanish tax rate on savings income over €50,000: 23%
Spanish tax on general income

Spanish tax residents will be taxed on all worldwide income which is not included as part of the savings income. This includes income from employment (i.e. salary), pension, rent and potentially income from gambling.

The Spanish income tax is made up of two parts, a national tax and a regional tax. Typically each figure is the same. However there may be regional variations.

From 2015 the Spanish income tax rates have been reduced and are as follows:

Spanish income tax for incomes up to €12,450: 20% (10% national tax and 10% regional tax)
Spanish income tax for incomes ranging from €12,451 to €20,200: 25% (12.5% national, 12.5% regional)
Spanish income tax for incomes ranging from €20,201 to €35,200: 31% (15.5% national, 15.5% regional)
Spanish income tax for incomes ranging from €35,201 to €60,000: 39% (19.5% national, 19.5% regional)
Spanish income tax for incomes over€60,000: 47% (23.5% national, 23.5% regional)
Always check with the local Comunidades Autonomas before making any assumption about the regional rate. The above rates apply for residents of Madrid.

Spanish tax personal allowance
If you are a Spanish tax resident, you will receive a personal allowance for your Spanish income tax (from savings and general income). Unlike in the UK where this personal allowance is rising year on year, in Spain, the allowance has been reduced in recent years.

For the 2015 Spanish tax year, there is a basic personal allowance for people under 65 of €5,550. Once you reach 65, the allowance rises to €6,700 and from aged 75 this increases again to €8,100.

There are also a number of other allowances including married couple allowance, child allowance (dependent on the number of children under 25 you have living with you) and disability allowance.

Due to the complexity, it is recommended that you speak to a Spanish tax expert before trying to establish your overall tax allowance to ensure that you calculate your tax correctly.

Spanish tax on UK pensions
Once you are a tax resident in Spain, you will be required to pay Spanish income on any income received from either the State or occupational pensions.

To ensure you receive your UK state pension, you will be required to notify the HMRC.

You will also be required to notify the HMRC once you are deemed a tax resident in Spain which will confirm you are paying Spanish tax on your income. To do this you need to complete a certificado de residencia fiscal NEN from your local tax office and send to the HMRC.

Until this certificate is filed, you will pay UK income tax under PAYE conditions at source. Any tax overpayments can be subsequently reclaimed from the HMRC.

Typically public pensions will continue to be taxed in the UK, regardless of your tax status in Spain, with the possible exception of an NHS pension.

With the new pension rules, if you intend to take a lump sum (tax-free or otherwise), you should be aware that this may be taxable in Spain under the Spanish Savings Income Tax and will therefore not be tax-free.

This could have a significant impact on any decisions made regarding your pension and you should seek independent financial advice as to your best course of option if you are a Spanish tax resident.

Spanish Wealth Tax
Since 2008, the Spanish government has introduced, removed and reintroduced the wealth tax which is a tax designed specifically for people who hold significant worldwide wealth, but are resident in Spain.

The tax amount is calculated against the declared worldwide assets held after a tax-free allowance of €700,000 is applied whether resident or non-resident in Spain.

For residents, there is an additional €300,000 tax allowance for primary residence in Spain.

In 2015, the tax rate is scaled from 0.2% to 2.5% (rising to 3.03% in Andalucia) depending on the total value of the worldwide assets.

There are exemptions from the wealth tax, and assets can be structured tax efficiently.

If you are in any doubt about what you owe, you should seek independent advice from both a Spanish tax expert and an independent financial adviser who will be able to minimise any tax liabilities while you are a resident in Spain.

Spanish Capital Gains Tax
Spanish capital gains tax rules are not straight forward. Typically Spanish tax residents are required to pay capital gains tax on the disposal of any worldwide assets. However, non-residents are required to pay Spanish capital gains tax on gains made by the sale of any Spanish property.

With specific regards to the sale of property, there are a number of deductions and calculations which are required to understand when calculating the final gain for tax purposes.

You should always seek qualified advice from a tax adviser who has full knowledge of the Spanish tax system before submitting any tax return in Spain to avoid penalties or fines.

Posted by & filed under Market & News.

 

Photo by Wayne Chasan · All Rights Reserved · © www.chasan.com

A new law, Royal Decree 28/2016 that regulates vacation rental properties and modifies the existing regulation for vacation rental properties came into force on May, the 12th, 2016.

Any properties that are located a residential area that is being advertised for rent to tourists (short term rents, less than two months to the same person) should comply with the regulations of this law. According to this law, the advertising could be through travel agencies, intermediaries or any other that includes the possibility of booking the property.

The properties that are excluded from the application of this law are the following:

Properties that are being rented out without any economic compensation (if you let your family or friends using the property for free)
Long term rentals (the properties that are rented out to the same person for the period that exceeds two months in the year in continues way)
Rural properties that are ruled by its own regulations.
Owners with three or more properties located in the same residential complex (those also are ruled by another legislation)

According to this law the properties should meet the following minimum requirements:

To have First Occupancy License
The rooms should have direct exterior ventilation and blinds system in the windows
The property should be sufficiently furnished and equipped for the normal use
The property should have air condition and heating systems (fitted system not portable devices)
First Aid Kit.
To have at tenants disposition brochure (or any other format) with the information related to the area, indicating restaurants, leisure places, shops, parking, medical services, public transport in the area, a guide with events information and plan of the town.
Complaints book.
The owner has to take care of cleaning service prior to arrival and after the departure of the tenants.
Supplying bedding, towels and household goods in general, as well as spare sets.
Providing a contact number to be available to answer questions or issues regarding the property.
Supplying information and instructions for electrical appliances.
Informing the tenants about the rules in relation to the use of facilities, pets or smoking restrictions.
The owners have one year to comply with these minimum requirements.

Each rental has to be formalized in the corresponding rental agreement which should include at least the following information:

Personal details of the owner and tenant/s
Registration Code of the Property given by the Authorities
Number of persons that will occupy the property (maximum capacity would be 15 people, in any case not more than 4 people per room)
Entry and departure date
The price
Contact telephone number

The terms of the rent are subject to the agreement of the parties. The terms of price, reservation, and payment or other terms must be stated in detail in the confirmation of the booking. Proof of advance payments must be provided, if applicable. In case the parties have not agreed to other terms, the owner may request an advance payment as a deposit up to a maximum of 30% of the total price unless previously agreed.The same way, in the case of lack of individual parties agreement, If the tenants cancel their reservation up to 10 days beforehand, the homeowner may keep up to 50% of the deposit. If the cancellation is made with less than 10 days to spare, they may keep the entire advance payment. If it is the owner who cancels the reservation up to 10 days beforehand, he must return the entire advance payment to the tenant. If the cancellation is made less than 10 days beforehand, he must compensate the tenant with 30% of the price of the contracted stay. If the rental is cancelled by either party for substantiated reason or force majeure, no compensation will be due. The owners are obliged to keep the copy of each contract for eventual inspection purposes during one year. The clients on their arrival will have to present their identification documents (passport or ID Card) and fulfil the corresponding “check in” document.

REGISTRATION

The owners of properties in order to start or comply with this new regulation are obliged within three months from the date of publication of the Law (took place on the 11th of February) to present the corresponding declaration in Registry of Tourism of Andalucía (Registro de Turismo de Andalucía) that will contain the following information:

Property details including cadastral reference and the maximum capacity as stated by the first occupancy license.
Personal details of the property owner, whether an individual or a company, including contact address for notification.
Identification of the person or entity that exploits the property (if different to the owner)

Once the registration has been completed the registration number of the property will be assigned by the Registry of Tourism of Andalusia and from there on this number must be indicated in all promotional materials or advertising of the property.

The Registry of Tourism of Andalusia must be notified of all rental activity and changes – both commencement and cessation.

NON-COMPLIANCE. FINES
Non-compliance of the regulations could involve substantial fines that could go from few hundred to a dozen of thousands.

MW ASOCIADOS

MW ASOCIADOS
Calle Jesus Puente 27
Edif. Terrazas de Banus
29660 Nueva Andalucia, Marbella
www.mwasociados.com
Tel. 952908148

Posted by & filed under Marbella - Lifestyle.

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Whether for business or pleasure, retirement or studying abroad, vacation or permanent relocation, Marbella is one of the top destinations in Spain.

1. Amazing Weather All Year Round.
It may sound obvious, but Marbella enjoys a spectacular climate, with blue skies and year-round sunshine (an average of 320 days per year). Plus given its location at the foothills of the Concha Mountain, Marbella enjoys a special microclimate that provides cooler summers and warmer winters than other surrounding towns.

2. Globally connected.
Marbella is only a 30-40 minute drive to Malaga international airport, which enjoys connections to over 100 global destinations. So whether it’s for a weekend getaway or a business trip, coming to Marbella is a convenient travel destination.

3. Endless shopping.
From the most popular urban wear such as Zara, Bershka, Massimo Dutti to exclusive brands such as Hermes, Dior, Gucci and Louis Vouitton, in Marbella you can shop until you drop. The department store El Corte Ingles and the designer boutiques in Puerto Banus to the Shopping Mall La Cañada and the hundreds of smaller and bigger independent shops, including Italian furniture at Ideal Furniture, Nordic designer furniture at Loft & Roomers, vanguard home entertainment at Bang & Olufsen, or designer fashion at Versace – you will find it all.

4. Sports and leisure activities for all.
In your free time you will find a whole array of sports and leisure activities. From the long-time popular golf courses, Los Naranjos, Las Brisas and Aloha Golf, to the Manolo Santana Padel & Fitness Club or Puente Romano tennis academy as well as tennis clubs such as the PSM Tennis Academy Marbella, the Hofsass Tennis College. For the kids, you have the new ice skating rink on the San Pedro Boulevard and the Trampolines in the Poligono as well as many other options that will surely not disappoint.

Read the full article here #Spain

 

Posted by & filed under Marbella - Estates.

 

Valderrama-GC-02ls

 

The purchase of emblematic Valderrama golf course by the development company Zagaleta is the fusing of two prestigious Spanish giants.

A new megaproject, taking in 200 hectares of rolling virgin hillside, in the Castellar municipality, is the perfect sign that the Spanish property market is finally booming again.

Zagaleta, just outside Marbella, is Spain’s most luxurious residential development counting Hugh Grant and the mayor of Moscow among its residents, while Valderrama’s golf course has known international prestige since it hosted the 1997 Ryder Cup as well as the now defunct Volvo Masters.

Developers Zagaleta Limited, based in London, are the new landlords of the Valderrama group including the golf club in San Roque, as well as an expanse of land in the neighbouring Castellar municipality

Read the full article here

Posted by & filed under Market & News.

property-for-sale-puerto-banus

 

According to an article posted in Property Wire,  the prospect of the Spanish house market  in 2016 will continue to recover but the latest data shows it is still a rollercoaster and growth very much depends on location.

According to the latest figures from appraisal company Tinsa prices are still increasing with its latest index up by 1.9% in November year on year.

The Tinsa index shows, however, that the recovery is broad based as house prices rose in all the areas covered. Prices in Barcelona and Madrid were up by 3%, coastal areas (including Costa Del Sol) popular with overseas buyers saw price growth of 1.4% and the Balearic and Canary Islands 0.2%.

But the recovery still has some way to go as since the peak of the market house prices are still down 41.3% in general, and 48.2% on the coast.

House prices, excluding new builds, actually fell by 1% in November according to the Idealists price index and are down 2.1% year on year.

However the index shows that five region saw monthly price rises, albeit marginal. The Balearic Island saw price growth of 0.9% followed by the Canary Islands up 0.5%, Andalucía up 0.3%, Navarra and Castilla-La Mancha both up 0.1%.

Read the full article here