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Ibiza Optimista
With the digital renovation of the Land Registers of Ibiza, the simple note has been replaced by the registry certification in the deeds of sale and purchase. Unlike the nota simple, which is merely informative, the registry certification is a public document with legal value that certifies in a ... READ MORE
Published: 15/10/2024
The Decree Law approved in May 2024 by the Balearic Government allows the legalisation of illegal buildings on rural land under certain conditions, but is not a total amnesty. The constructions must be more than eight years old, and an increasing "economic benefit" of 10% to 15% of the value of t... READ MORE
Published: 15/08/2024
Anyone who inherits a property in Ibiza and plans to sell it directly to a third party must first settle the estate. To do this the inheritance must be accepted in Spain, and it is important to assign a value to the property, which will appear in the public deed. READ MORE
Published: 15/06/2024
Villa Contact is one of the most highly respected real estate agencies in Ibiza, with dynamic young owners and impressive international connections. It is a family business that is run by three siblings, and how this came to be is a wonderful Ibiza story. The agency was founded in 1983 by their m... READ MORE
Published: 15/04/2024
Some laws seem so far removed from the lives of normal citizens that people believe they can safely ignore them. The "Law on the Prevention of Money Laundering and the Financing of Terrorism" (Ley 10/2010 de prevención del blanqueo de capitales y de la financiación del terrorisimo) falls into thi... READ MORE
Published: 15/04/2024
Digital progress in Ibiza: New Law streamlines the work of international lawyers. The possibility of signing notarial deeds via videoconference since November 2023. Limitations for security reasons but significant advances in the process. READ MORE
Ibiza generally prohibits tourist rentals, but some landlords attempt to bypass this by formalizing seasonal leases exceeding a month. However, distinctions exist between seasonal leases and tourist rentals under different legal provisions. While tourist rentals are regulated by the Tourism Law o... READ MORE
"🔍✨ Tax Changes in the Balearic Islands: The new Balearic government has approved tax benefits in the Inheritance Tax. How does this affect residents and non-residents? We analyze the implications and options for informed inheritance planning. #InheritanceTax #EstatePlanning 🏡💡" READ MORE
Ibiza's real estate market faces high demand, driven by its uniqueness and investment history. After the 2008 crisis, it recovered, but COVID-19 affected it in 2020. Construction is growing, but most properties are used as second homes. Government measures aim to regulate prices and preserve the ... READ MORE
Published: 15/08/2023
The energy efficiency certificate is essential for selling or renting properties in Ibiza. Rated from A to G, it assesses efficiency in aspects like heating, lighting, and insulation. Important for buyers and mandatory for vacation rentals since 2021, it impacts the property's value. The "G" rati... READ MORE
Published: 15/08/2023
Prestige Properties, a luxury real estate agency in Ibiza, celebrates its 40th anniversary, reflecting on its history and vision. Founded by Pascale Dufournier in 1983, the agency thrived, overcoming challenges and evolving. After Pascale's passing in 2022, Victor Van den Driessche assumed leader... READ MORE
Published: 15/08/2023
Non-resident property owners in Ibiza must pay Income Tax and file an annual declaration using model 210. The tax is calculated on the cadastral value, with the base for the EU being 1.1% of that value, while for non-EU citizens, it is 24%. The self-assessment must be filed before December 31, an... READ MORE
Published: 15/06/2023
An important concern for many homeowners in Ibiza is how their property will be inherited. The covenant known as an “succession agreement” (“el pacto sucesorio“) is a useful instrument that serves to regulate property transmissions between relatives, and it can be treated from a fiscal point of v... READ MORE
Published: 15/06/2019
Did you know that a Canadian citizen can freely buy an attic apartment in the centre of Ibiza, but is not allowed to buy an inland property, just a few miles from town, unless s/he receives a specific authorization from the Ministry of Defense? The fact that non-EU citizens cannot buy rural land... READ MORE
Published: 15/04/2019
Wealth Tax (“Impuesto sobre el Patrimonio”) was abolished in Spain in 2008, but a few years ago it was brought back again at national level, and thus, also in Ibiza. This tax is applied both to residents and non-residents when the value of their belongings in Spain is over & above of 700,000 €. I... READ MORE
Published: 15/02/2019
There has been much talk in the press recently about the latest rulings stating that the banks should have to pay back to their customers at least part of the additional costs of setting up a mortgage. Until recently, there was a clause in the general conditions of mortgage loans that determined ... READ MORE
Published: 05/12/2018
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