Spanish Property UK LTD/LLP Company

[Wincham]

Hello Tax-Ace,

One common mistake by Lawyers in Spain is that they use Spanish laws for Spanish SL Companies when they supply arguments against ownership of a UK Company for a property in Spain. Laws in Spain for Spanish SL Companies mostly do not come into play for UK Companies as a UK Company is a non Resident Company of Spain so is subject to UK law and not Spanish. When a property in Spain is invested into a UK Company by the property owners then they receive Company shares in exchange for the property so there is no Capital Gains or Gift Tax on this transaction charged by the Tax Office in Spain to the UK Company.