Up next in 10
More on Spain's 'DIGITAL NOMAD VISA' and the MODELO 720 requirements | Pellicer & Heredia
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Oct 29, 2024
Antonio and Pedro from Costa Blanca based International Lawyers Pellicer & Heredia were back in talking to Moody about how they continue to help Non-EU nationals (including Brits) with the correct visa options for coming to Spain, whether it's to retire, work or work remotely. Along with a reminder that now is the time to submit a form MODELO 720 if required, the focus was on the so-called 'Nomad Visa' for remote workers in Spain, which is now available. This allows you to live in Spain while working for (and earning from) a foreign company. However, you will need to be able to show that you have the financial means to support yourself and the minimum monthly amount may be more than you expect. You can see more about residency options at www.visaspain.today or at www.alicantelawyers.es, where you can also watch back some of the previous webinars. Be sure to Like 👍 this and Subscribe to our channel if you found it useful. Website: http://www.bayradio.fm/​ Mobile App: https://app.appinstitute.com/yddcc​ Facebook: https://www.facebook.com/BayRadioInSpain​ Twitter: https://twitter.com/bayradioinspain​ Instagram: https://www.instagram.com/bayradiospain/
View Video Transcript
0:00
whether you've been in Spain for six
0:02
months or six years don't miss payer
0:04
there and a red earring conversation
0:06
with Moody on Bay radio every other
0:08
Wednesday at 10 A.M payathaire and
0:10
eredia are your International lawyers on
0:13
the Costa Blanca and have been looking
0:14
after the expat Community for more than
0:16
a decade see more at
0:19
alicantylawyers.es and as promised our
0:21
friends in from pathan iridia to be
0:23
joined by Pedro later but nice and early
0:25
in fact earlier than expected Antonio is
0:28
back with us good morning one of the
0:30
earth we're one of the earth nice to be
0:32
here yes we've been in once before I
0:33
think on on our show here that's right
0:35
the last one of the last year I believe
0:36
that's right they allowed you to come in
0:38
last time didn't they said gently
0:40
introduce you into the radio station
0:42
that's right I think it's a sign of
0:44
trust do you think I don't think so yes
0:46
yeah they're good sign because it's a
0:47
big deal of course every morning
0:50
um now what um you're really up on is
0:52
the Modelo 720 which is what we were
0:55
just talking about that's been the
0:56
webinar on that recently that's right
0:58
and we have one later today about the
0:59
topic because we are on the midst of the
1:02
filing campaign it's from the 1st of
1:04
January until the 31st of March so well
1:07
if you haven't think a thought about
1:09
doing yours then well you should
1:11
probably hurry a little bit it's been in
1:13
play in place for a while but it's
1:16
always worthy reminder because there's
1:17
new people coming here all the time and
1:19
it could be from anywhere and it's about
1:21
basically you declaring assets abroad
1:24
that's that's right of a certain value
1:26
that's right if you have more than 50
1:28
000 Euros abroad adding all kinds of
1:30
things like Properties or bank accounts
1:33
Bank products
1:35
works of art Etc then you have to
1:38
declare them to the Spanish tax agency
1:40
not necessarily meaning that you have to
1:42
pay for them just for them to have
1:44
general info information about your
1:46
worldwide assets yes they like to know
1:48
works of art yes I haven't heard that
1:49
included before but of course that would
1:51
count yeah yeah of course everything
1:52
that's already said that has over a
1:54
certain value if you have bonds as well
1:56
a good need for example so but it's a
1:58
total isn't it everything adding up to
1:59
to fifty thousand Euros yes that's right
2:01
that's right and if you don't have that
2:03
much then you don't need to fill this
2:04
form in that's right and if you have a
2:07
significant change of your assets abroad
2:09
and you have to file it again because
2:11
the form 720 is one of those forms that
2:13
you don't find necessarily every year
2:14
but if you've filed it I don't know two
2:18
three years ago and now you've sold a
2:20
property abroad and now you're using the
2:23
cash for anything for something else
2:24
then you have to to update your form and
2:27
update the information of the Spanish
2:28
tax agency so with the threshold of 50
2:31
000 Euros I still have no need to fill
2:33
in a model of 720 myself just yet I
2:36
should see it's unlikely to come about
2:38
anytime soon either so the deadline is
2:40
end of March you say that's right so
2:42
where do you come into this then as as a
2:44
legal side of things well it's like an
2:46
accountancy thing isn't it that's right
2:48
I think this is kind of a gentle way of
2:52
the spanning stacks agency letting
2:53
people know okay these close what you
2:56
have now so we can follow up in the
2:59
future sure we'll add it onto a database
3:01
if in the future you make a sale or you
3:04
have debts with us or something else
3:05
then we know how much you've got and
3:08
where your assets are that's that's the
3:10
thing yes they like to know don't they
3:12
and what's the issue with it going to I
3:15
don't know if it was the European court
3:16
of justice or whichever they contested
3:18
it but it was about the size of the
3:19
fines initially that you didn't declare
3:21
it because they just made up a
3:23
astronomical figure if you didn't fill
3:25
this in that's it the thing is whenever
3:28
you introduce a new tax or a new form
3:30
like you see this case there's always a
3:32
resistance by the public to fill it
3:33
particularly when you are disclosing
3:35
something as personal of your your
3:37
personal wealth to uh an authoritative
3:39
that's in fact a foreign tax Authority
3:41
right you may be a resident in Spain
3:43
maybe you don't have Spanish nationality
3:46
so well there weren't that many people
3:49
uh filing for that so what they've
3:51
decided is to start a systems of rate or
3:54
you know checks on on people and because
3:57
Their fines were so high that well God
3:59
everyone back into the house let's say
4:04
yeah they took it to Europe didn't they
4:06
but I think a lot of people thought that
4:07
the the whole thing had been scrapped
4:09
but it wasn't it was just the the court
4:10
in in Brussels wherever Strasbourg had
4:13
ruled against the size of the fines and
4:15
not the implementation of the that's
4:17
exactly it yes well it was decided that
4:20
this one is a tax Authority still has a
4:21
right to know what assets do
4:23
non-nationals or you know residents here
4:25
in Spain have abroad but yeah the fines
4:28
were probably a little bit too high so
4:30
they scrapped the amount of the fine but
4:32
the the farm is still very much alive
4:34
and I believe it will be for a long time
4:37
have there been so you'd may have been
4:40
called upon as a legal team people that
4:43
have had problems with the model of 720
4:45
so they filled it in or maybe someone
4:46
said it's filled in correct incorrectly
4:48
and you've had to go back in and you
4:51
know to take up a legal case with it
4:52
yeah that's quite common because the
4:54
Forum 720 looks quite straight and quite
4:58
simple what's really not really that
5:01
simple because
5:03
um assets are divided into categories so
5:05
you have to file every category
5:06
correctly and sometimes it's difficult
5:08
for a Spanish tax form to understand the
5:12
kind of assets that you may have in
5:13
another country particularly when you're
5:15
talking about
5:17
um Pension funds or or
5:19
systems of saving that you have in other
5:21
countries in the United States or in the
5:23
United Kingdom as well and we are not
5:25
keen or not very big on private pensions
5:27
here in Spain or private funds and of
5:29
that kind because most of Spanish
5:31
retired people live over public pension
5:33
or state pension however well that's not
5:35
the case in the UK where the the pension
5:38
that you get from the state normally is
5:39
your your small pension and you have a
5:42
big pension from your from your work
5:43
yeah so that sometimes cannot be easily
5:47
encased into the form so that requires
5:51
some legal study and some proper advice
5:54
in order to be able to correctly fit
5:56
each asset into each let's say Square
5:59
yeah and it's one of those things it's
6:01
one of those forms perhaps where people
6:03
would like myself I'd probably say oh I
6:05
can do this myself it's no problem I
6:07
know some Spanish but it might be worth
6:09
talking to someone or getting someone to
6:11
do it for you of course yeah that's why
6:13
we do webinars about these and it's
6:16
something that's always the highlight of
6:17
the first quarter of the year is the
6:19
form 720 second quarter is always the
6:21
Renta right yeah your tax return when
6:23
you're a resident but first quarter is
6:24
all about form 720. so that was an
6:27
interesting term to you so it's the
6:28
highlights of the Year filling in the
6:30
model of 720 and then paying your taxes
6:32
yeah I know yeah what a way to start the
6:35
calendar year Alicante lawyers.es by the
6:37
way is the website which we'll always
6:38
point you towards and joined by Pedro
6:40
who well I'm not sure we need you in now
6:42
is carried this fine the boy done good
6:44
as they'd have said in football
6:45
management a few years ago good morning
6:47
welcome back good morning everyone
6:50
um so we've covered a bit of them at the
6:51
model of 720 though talking about that
6:53
because it's it's the period to fill it
6:55
in now normally I mean with those who
6:57
have started to be tax rate here as a
6:59
year in this case but also for those
7:01
ones that or maybe didn't declare it
7:03
because they didn't know it or just they
7:05
can sell for example a bank account in
7:07
the past last year so there are some
7:10
situations that maybe if they did it
7:11
some years ago now they have to do it
7:13
again something has changed but normally
7:16
I mean for those who started to be tax
7:18
resident last year 2022
7:21
this year if they have assets abroad
7:24
which is over 50 000 Euros
7:27
it will have to be explained obviously
7:28
there are some specifications on this
7:30
about the 50 50 000 years and obviously
7:33
we will be speaking about that yeah is
7:34
there a period where you do need to
7:36
update it even if nothing's changed it's
7:38
not like every five years yet notice
7:41
that always for model 720 we are giving
7:44
values at the end of a year the values
7:47
on the 31st of December or the previous
7:49
year or the average rate or the last
7:52
quarter so those values are the ones who
7:56
are compulsory imagine that you have a
7:58
property that you saw it in April well
8:00
that doesn't count right in case that
8:02
you work tax service in last year but if
8:04
you were before and obviously you inform
8:06
about that property that you had in the
8:09
past and you sold it last year for
8:11
example then you need to informed tax
8:13
office that you have already solid why
8:14
this is obviously an informative
8:16
declaration tax office wants to know if
8:19
you had a property and now you sold it
8:20
you have a capital gain yes that's the
8:23
thing yeah yeah yeah and they keep an
8:24
eye out for that sort of thing I know
8:26
but um it's what it does frighten people
8:28
because they immediately think they'll
8:30
be taxed on that straight away but it's
8:31
not it is it's an informative
8:32
declaration it's informative obviously
8:35
you will be catch all the information
8:37
that they cannot get easily from uh from
8:40
a tax office abroad normally with Spain
8:44
has a lot of agreements with the
8:46
different tax office in the world and
8:47
they get information from predictable
8:49
European countries
8:51
um American countries for example
8:52
America is the United States or Canada
8:54
they don't get any information at all
8:56
obviously this information is
8:58
informative declaration obviously is to
9:00
inform tax office what do you have in
9:01
the world what assets could be can give
9:06
you some income that you need to declare
9:09
in the tax of tax return in order to at
9:11
the end to pay more taxes yeah and it's
9:13
any country outside of Spain isn't it
9:14
it's not an it's not an EU thing so even
9:16
if you're winning in the EU you still
9:18
need to declare in the Netherlands or
9:20
something yeah absolutely it's not not
9:22
just for third countries if you imagine
9:24
that you have a for example a property
9:26
that says I value it on on property for
9:29
example is a debt decision value imagine
9:32
that you bought a property of 90 000
9:34
Euros but it's jointly 50 so someone
9:37
will say well I joined 45
9:39
000 Euros because uh when I bought it
9:41
you need to declare anyway you need to
9:43
declare any value of acquisition for
9:45
example a property in which is over 50
9:47
000 Euros even though you you own one
9:49
percent for example or even though yeah
9:51
well I have a bank account in the UK
9:53
which is 40 000 Euros and also I'm
9:56
authorizing another bank account
9:57
authorized which is not I'm not
9:59
ownership I'm just authorized another
10:01
one which is a another 20 000 Euros then
10:03
you need to report that yeah I guess
10:06
that's an example yeah if it's a bank
10:07
account I suppose you need to work it
10:09
out if it takes you over 50 000 in Euros
10:11
because you'll probably have it in
10:12
Sterling yeah I think oh that's fine oh
10:14
no hang on I'm in the exchange rate
10:15
exchange rate changes you're right
10:17
certainly over 50 000. with all these
10:19
things to take into account I think we
10:21
have updates do we uh Pedro on The Nomad
10:24
Visa as part of the later startups
10:26
um which is coming to play has it gone
10:28
through the Senate now well it's it's
10:29
already right now it was working right
10:31
now it's reapproved I mean it's what at
10:33
this time is is is is on in order to
10:36
apply for right now now just an outline
10:39
of what this is because we talked about
10:41
it a lot you've done webinars on it but
10:43
um any updates well I mean I've update
10:46
is like right now we are receiving like
10:48
a extraordinary attractive uh
10:51
um questions about my Visa in order to
10:53
to to to stop getting this Visa in Spain
10:57
obviously
10:59
um everyone is like saying okay well I'm
11:01
gonna apply for this Visa I will it
11:03
looks like it's it's easy you know that
11:05
you if obviously you fulfill the
11:07
requirements of you work in a company or
11:09
you're professional there are some
11:10
period of time
11:11
but also there is a tax issue which is
11:13
extremely important this law really
11:15
changed the situation about those who
11:17
wants to come to spending up we call it
11:19
like digital digital like a scenario
11:23
another two create companies that is
11:25
going to work and so they have a lot of
11:27
tax benefits but for those who just come
11:30
to Spain and work like a professional or
11:32
Ikea company
11:34
if the income is um quite is like high
11:36
let's say hi
11:38
um has a really good benefit uh because
11:41
it has a fixed percentage to be taxed
11:44
which is 24 that's a flat rate across
11:47
rate and the thing is that
11:50
um you are treated like a non-resident
11:52
tax really you actually like a on wealth
11:55
tax you are treated like a non-resident
11:56
tax and you don't have to declare your
12:00
worldwide income you just have to
12:02
declare the income that you have from
12:03
your salary your professionally no the
12:04
dividends no interest is no withdrawing
12:07
or any other investment so it has a not
12:10
just the 24 flat fee but also some other
12:13
issues that may occur that you may have
12:17
to pay Capital Gains if you were like
12:18
tax rate here in Spain for example what
12:20
if you sell a property in the UK you are
12:23
you get a normal Visa in Spain you sell
12:25
a property in the UK and then Judy has
12:28
done reimburse the USL property that you
12:30
get a big capital gain stocks big
12:32
capital gain will not be tax in Spain if
12:34
you get the normal Visa with this
12:36
special tax benefit this special tax
12:37
benefit is not just for those who has
12:40
normal Visa it's also for non-residents
12:42
to who come to Spain
12:45
in order to work I see um now the the
12:48
general
12:49
um outline of it the main point of it
12:51
was that you're working based in Spain
12:53
maybe working from home but earning
12:56
money from a company outside of space
12:57
exactly um what I saw that had changed
12:59
or a new thing that occur was that you
13:02
can earn up to 20 from the Spanish Camp
13:04
yeah that's right obviously an addition
13:07
to this yeah it's a limited and you you
13:09
cannot earn money at maximum 20 of any
13:12
company in Spain so at least 80 percent
13:15
or more you have to get it outside from
13:18
companies outside I spent at least yes
13:19
because originally we were saying you
13:20
can't earn anything inside of Spain so
13:22
that's that was that was the big change
13:24
that I saw or an update on it
13:26
um and what about any was there a
13:30
minimum you need to be earning or would
13:32
you well it's a bit like the other visas
13:33
where you've got to show something in
13:35
the difference Visa we always say about
13:36
the savings that you must have in your
13:38
account or have access to that to I mean
13:41
just in case you don't work you have
13:42
enough money to live in Spain that's the
13:44
key point
13:45
with this kind of Visa well you have to
13:46
show we call it like minimum salary
13:48
required
13:50
which is in Spain is 1050 Euros well
13:53
let's say let's say that amount so this
13:55
is 200 about that amount so let's talk
13:57
about 2 100 euros so per year will be
14:00
around 25 let's say 25 000 Euros
14:03
per person that has a salary to obtain
14:07
that does it means that you have to have
14:10
like savings about that money not really
14:12
you just have to show that you have
14:14
enough
14:15
um the the income that you're gonna get
14:17
here you get is is over that amount
14:19
obviously if you help with savings or
14:22
the Investments that you may have and
14:25
you have access to them and will help
14:27
you obviously to get the visa how will
14:29
you sort of prove that you're going to
14:30
earn that much
14:33
earnings they have I mean the contract
14:35
employment I mean at the end the tax
14:37
returns that you have from last year any
14:39
proof you can show and obviously when
14:42
normal Visa you need to show that you
14:43
have been working in a company at least
14:45
the last three months and the company
14:47
that you work in this is if he's an
14:49
employee a company is validated and has
14:52
an existence of more than one year
14:54
because I said I think I've said this a
14:56
lot most times that we talk about this
14:58
is that you sort of picture this digital
15:00
Nomad Visa you know some little
15:02
skateboarder chat this does some video
15:03
work or online bits but it's not going
15:06
to be quite as easy just to be able to
15:07
come over here and earn enough to get by
15:10
you need to be showing proof that you
15:12
can exactly exactly and also you have to
15:14
have a big sample of your employee you
15:15
need to have authorization by the
15:17
company that you are allowed to work in
15:19
Spain yeah you kind of worry all you do
15:21
is remotely and you can work remotely
15:23
and with a digital system like a
15:25
computer
15:26
obviously you need to prove some things
15:27
obviously and it's important to do
15:29
without that important also that you
15:32
will be able to do it once you are in
15:33
Spain with a for example a tourist visa
15:36
look at the Visa that many many of our
15:38
clients made before
15:40
and they had to do it in the Spanish
15:42
consulate and it takes some times it
15:44
takes like three to four months or maybe
15:46
more and to get a resolution than to get
15:49
a visa and then to have authoritation to
15:52
engineer in Spain so again it takes time
15:54
and this one you will be able to get it
15:57
once you are here obviously with all the
15:58
documents properly done with apple
16:00
stills of the public documents the
16:01
throne translation and then we apply
16:04
them telematically we do it in an intent
16:06
20 days you may get if you fulfill the
16:08
requirements you may get the visa so
16:10
it's very rapid yes that was to be my
16:12
next question is how much waiting around
16:13
because you imagine it's going to take a
16:15
while but it's like because it it is
16:19
part really of of the golden Visa law
16:21
really it's like investment Visa yeah
16:25
okay so and then it may be that you can
16:27
switch from the non-lucrative visa to
16:29
this new one those who had before
16:33
um and have been ready in Spain they are
16:35
able to be authorized in order to do it
16:37
there are many people that have right
16:38
now is in the Visa but they are really
16:41
working
16:42
um Antonio how long have you been with
16:44
the with the company
16:45
yeah yes that could be from Summer 2021
16:49
all right and you've seen a lot of the
16:52
sort of Visa applications this is a big
16:53
part of what you do yes in fact well
16:56
I've been although I've haven't been
16:58
with the company for that long I've been
16:59
doing this this kind of business for
17:01
some time now for around 10 years or so
17:03
sure yeah so I've worked for other
17:04
companies and I think but is the one
17:07
that does the most work in visas that
17:10
I've seen before and of course it's um
17:12
it's changed for for Brits in the last
17:14
few years post brexit of course it used
17:17
to be very easy yeah well now what
17:21
you've got is a wide range of
17:22
possibilities like it used to be only
17:25
just the one right the the European Visa
17:27
now or the European residency or Q as we
17:30
call it but now you can have no
17:32
lucrative can have golden visa and of
17:34
course now they're not Visa as well but
17:36
it wasn't something brand new because
17:37
you'd already been dealing with people
17:38
coming from maybe North America and it's
17:40
a similar similar process of course what
17:42
what it was tough back in the day was to
17:44
adopt the system that the the
17:48
expectations British people were having
17:49
were moving here to what is was going to
17:53
be definitely in fact was uh there was
17:55
there were growing pains for everybody
17:57
involved not all not only clients of
17:59
course that have different expectations
18:01
and there was a lot of misinformation
18:03
online things are relatively more clear
18:05
but still beware of of Googling about
18:08
about visas you can get expired
18:11
information on how it used to be pre
18:13
pre-brexit yes but also the the the
18:17
extra career right the foreign office
18:19
themselves they did change gradually the
18:22
system so they had prior system then one
18:25
when brexit was announced and another
18:27
one while brexit was executed before the
18:29
the acuerto de retira the implementation
18:32
of article 50 and now what it it's ended
18:35
up to be well let's call it the final
18:37
version or would be better to say yeah
18:41
sure and also you know as far as legal
18:44
representation goes have you seen many
18:45
people getting deported or sent back
18:48
because they've outstayed there they're
18:49
welcome because I've read about it I
18:51
don't know how big a thing it is that's
18:52
right I've also read about it am I
18:54
always curious particularly when it
18:56
started if you remember there were well
18:58
there used to be a lot of British people
18:59
were not only British but mainly British
19:02
people because they were they were the
19:03
ones affected by brexit that were
19:05
staying in Spain as residents really but
19:08
without declaring it taking advantage of
19:10
the no Frontiers no war this kind of
19:12
thing so once uh the the the the end of
19:17
the bricks of the brexit temporary
19:19
period finished and you know it became
19:21
enforced I think it was January 2021 you
19:25
have basically three months to get out
19:27
of Dodge or if not then could be here
19:29
staying over illegally and I had a lot
19:33
of clients overstaying their welcome and
19:37
a few of them were afraid no
19:39
deportations back in the day but you you
19:40
read it you you were able to to read it
19:43
I'm happy to say none of my clients were
19:45
deported as far as I'm aware so that's
19:47
always good Charlotte Ignacio next time
19:49
we see him I'm not taking it personally
19:51
that he hasn't made an appearance in
19:52
2023 yet he's busy he'll be in court
19:54
somewhere I'm sure we're doing other
19:56
things but it's a pleasure to have the
19:57
the two of you in and we just want to
19:59
touch on uh property side of things it's
20:01
just a lot of what you do as well
20:03
Antonio isn't it I think from the last
20:04
time we spoke
20:05
right up my alley what's happening with
20:08
the markets at the moment it seems to be
20:09
buoyant and uh prices still right up
20:12
there yeah that's well or is it well I
20:16
do think it is still I think depends on
20:19
the region uh despite the latest
20:21
interest uh increase that was the Creed
20:25
here and now we type up to four points I
20:27
believe it's still maybe there's a lot
20:30
of people thinking well yeah mortgages
20:32
rates are high but they're gonna get
20:34
higher so let's better get this purchase
20:37
done before it gets worse and I think
20:39
it's that's still the feeling because
20:41
until the ceiling of the increase is
20:45
announced there will still be and of
20:47
course there's still part of the market
20:49
which are people that really don't need
20:51
a mortgage they are well they are
20:54
strapped for capability and the other
20:55
way around they're not struck for cash
20:57
those departures are not impacted At All
21:00
by the by the rates probably the other
21:02
way around so they're still buying and
21:05
here at least here in Javier we have a
21:08
interesting Market because it's very
21:10
different we have people from all over
21:12
uh in Europe and outside Europe buying
21:15
here in groups so that makes it kind of
21:18
a more resilient Market to to the
21:21
decrease in sales yeah so so far so good
21:23
I think Nationwide Spain there's a lot
21:25
more variable rate mortgages other than
21:27
maybe the UK for example so they are
21:29
affected by this change in the Euro ball
21:31
which is governing the the mortgage
21:33
rates yeah I think it's an interesting
21:35
comparison how the mortgages in the UK
21:38
work and as how they work in Spain here
21:41
in Spain you have three types of
21:42
mortgages right you can have a fixed
21:44
rate for all the duration of the
21:46
mortgage so if it's 20 years and it's 20
21:48
years fixed rate whatever the rate is
21:50
you can have of course variable rate
21:51
which is a fixed number plus the uribur
21:54
and you can have mixed which are
21:56
probably the the the less common of them
21:58
all in which you have a set of of years
22:01
in fix 5 10 15 and then the rest is
22:04
variable rate but I don't think that's
22:06
the case in in the UK I no but correct
22:10
me if I'm wrong but I think in in the UK
22:11
most mortgages are mixed right you have
22:13
a period of fixed rate and a period of
22:15
variable rate um it's not my area of
22:17
expertise but I've never been adult
22:19
enough to take out a mortgage but um I
22:22
believe there's a little more fixed
22:24
rates mortgages then they might have
22:25
grabbed a decent rate as well in more
22:27
recent years because so interest rates
22:28
have been very low but starting to go up
22:30
now and I know the government was
22:32
looking at capping any further rise or
22:34
POS maybe doing what they can that's a
22:38
good point well as you probably know we
22:40
have a coalition government here in
22:42
Spain we've got a peso egg which is a
22:45
traditional left wing and then we have
22:46
podemos and and the rest which are more
22:49
to the left so there's a disparity of
22:52
opinions uh the more
22:54
um let's say centered of those two
22:56
parties believe that things are so far
22:59
okay but the podemos which they do try
23:02
always to to to defend what they believe
23:04
is the most the most vulnerable party
23:06
even if it's against the the the wanting
23:09
of the market they believe that they
23:11
should they should top mortgages they
23:12
put a limit to mortgages if not then
23:14
it's going to to become Madness that is
23:16
funny enough because anyone that I've
23:19
talked about is that that is over 50 or
23:21
55 they remember when they got their
23:23
property on the on the first time maybe
23:25
30 years ago and they say that variable
23:27
rates were 13 15 17 back then and now
23:31
we've got I don't know what four and and
23:34
people are getting crazy but that's not
23:36
my case as I'm young enough so I don't
23:38
know I think there's always something
23:40
because of for concern it's true I mean
23:42
it's been a long time since the rates
23:44
got that high and inflation as well
23:46
obviously the two two going along sort
23:48
of hand in hand as it were but um yeah
23:50
there'll be um things aren't changing
23:52
now in Spain aren't they because uh
23:54
though traditionally there was like the
23:55
family home and then it got passed on
23:57
and passed on but those people and then
23:59
the youngsters are moving out of these
24:00
these areas now and maybe selling that
24:02
house and what's he called um hispania
24:06
bathiata that's right yeah it's um we
24:09
understand our Spanish news yesterday I
24:10
think it was about
24:12
four only 12 percent of Spain is
24:14
inhabited
24:15
well and then like and like the half of
24:18
the population lives in four percent of
24:20
the country obviously in the big cities
24:22
I don't have all those numbers but yeah
24:23
something similar to that could be true
24:26
it is well that's always happened I I
24:28
guess in every developed country but
24:30
also in Spain if you go to Madrid it's
24:32
packed if you go to Barcelona Valencia
24:34
is back here in Alicante I I believe we
24:37
are one of the counties or provinces
24:39
that has the most population yeah so I
24:41
think we're better distributed you've
24:43
got people living almost all over the
24:46
the the province but I know there are
24:48
provinces that it's almost well not no
24:50
one but that population has been
24:52
dwindling declining over all over the
24:54
years yes and perhaps this um Nomad Visa
24:56
was maybe looking towards that to fill
24:58
up these bring people over to to these
25:00
areas because if they can work from home
25:01
so they can work from anywhere then you
25:03
can put them into these entice them to
25:05
these to these areas that have been yeah
25:07
in fact that's one that's been one of
25:09
the efforts for local governments
25:10
obviously there's there's other
25:11
provinces
25:12
that they have lower population either
25:15
thinking we should get more people
25:16
living in here if not there's a small
25:18
towns that you know can become well
25:22
cemeteries really yeah so if they if
25:25
they manage to get something attractive
25:27
for people to lure them in into into
25:29
living here if you work over the
25:31
internet you know you don't I really
25:33
have to go pop into the office and you
25:34
can choose anywhere you can always
25:35
choose the beach but if you would like
25:37
to to get into the Spanish countries
25:39
which by the way it's beautiful yeah
25:41
then you can probably get better rates I
25:43
don't know yeah probably yeah I mean it
25:45
sounds idyllic you know it's the sort of
25:46
thing I'd set my own myself but it's
25:48
just if you just get a decent internet
25:49
connection and you're all set uh
25:51
sometimes the services you know you have
25:53
to put up with electricity and water
25:54
supplies and the like you see that place
25:56
in Tenerife that they um they spotted it
25:58
was illegally built on yeah
26:03
isn't it yes and they found it from
26:05
obviously aerial photography but also I
26:07
think some of the locals have grass them
26:09
up as well they've ratted them out and
26:11
it's yeah big old place with a pool and
26:13
uh in water and electricity connected to
26:15
a nearby
26:16
so obviously that goes to the court now
26:18
and there'll probably be a demolition
26:19
order
26:20
um which you you will have you will have
26:21
seen this in the past in maybe past yeah
26:23
it's been a lot of situations that have
26:26
been an evolution and we can see it for
26:28
example in Almeria this big hotel was
26:30
also built yes yes in the other course
26:33
well on the coast but we've seen this
26:35
many many times this is why we when we
26:37
recommend clients you know that when
26:38
buying properties on one buying
26:40
properties normally when it's built with
26:42
the land is near the Coast or near uh in
26:45
a mountain whatever these kind of
26:46
situations on which to apply for
26:49
planning reports take perfectly the
26:51
property many times send an architect to
26:54
check the property and obviously he has
26:56
to realize that if he has any file
26:58
against the property we have an
27:00
equipment situations that we have phoned
27:01
where someone wants to buy a property or
27:03
has something some area of the building
27:05
has a file on demolition for example a
27:08
garage a barbecue something that has
27:10
been built with a license another
27:12
demolition over there maybe seven years
27:14
old five years old the agents are saying
27:16
No this is already
27:18
eliminated is prescriptive is no actions
27:21
but it's not in many many cases now so
27:23
but this kind of situations obviously
27:26
right now the administration is looking
27:28
for any illegal situation more and more
27:31
here yeah and don't forget they have
27:33
drones these days you can't hide
27:35
anything away of course we're out of
27:37
time it's 11 o'clock already in Mainland
27:39
Spain thanks so much for your time today
27:40
we always appreciate it Perth Aaron the
27:42
radio your International lawyers based
27:44
on the Costa Blanca we've been assisting
27:46
expats for over a decade with laws to
27:49
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27:51
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27:53
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27:55
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27:58
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