Wincham believes that it is the market leader in the provision of Consultancy Services in respect of corporate ownership of Spanish property.

Not only has Wincham been operating in Spain for over 15 years but it owns a portfolio of residential and commercial properties using the UK Company structure. As a company we would not recommend our clients use any methods that we had not proven ourselves. UK corporate property ownership can be extremely tax efficient, especially in the area of Inheritance Tax. The majority of our clients already own property in Spain and we can restructure their ownership of their Spanish property into a UK Limited company.  
We are also approached by many clients who own Spanish property in either offshore or Spanish SL Companies.
Spanish SL Companies
Generally, a client who has structured the ownership of their property using a Spanish SL will have done so because they have been lead to believe that this method will protect them against Inheritance Tax in Spain. This is not necessarily so, as in Spain it is the beneficiaries who have to pay the taxes on death and not the deceased's estate. This means that whether the non-Spanish tax resident beneficiaries are inheriting the shares and assets of the SL Company or the property directly, Inheritance Tax will still have to be paid in Spain.
Offshore Company Ownership.
Companies registered in places such as The Isle of Man, Gibraltar, Jersey, Guernsey etc (offshore countries) are not registered and controlled in an EU member state and therefore do not benefit from EU Treaties. Consequently owning a Spanish property in an offshore company can be highly expensive as Spain can tax these companies annually. It currently taxes the Spanish assets of offshore companies at 3% per year. This means they are paying 3000 euros annually for every 100,000 euros of assets owned in Spain.
A UK company is not an offshore company. It is a company resident in another EU member state and so is not subject to 3% annual tax.
Eire Company Ownership (Ireland)
Throughout 2009 we have been approached by a number of clients who would prefer to use an Eire company to own their Spanish property. We are now able to offer our clients an alternative by way of an Irish Limited company. As Eire is a member of the EU an Irish company can offer many of the same benefits as a UK company in respect of Spanish property ownership.
How can Wincham help?
Whether you currently own a property in Spain, are about to purchase in Spain or own the property in an Offshore or SL Company, we have a solution and method to help to transfer your property into a UK Limited Company or Irish Company.
It is important to remember that these methods are not loop holes but proven solutions developed by fully qualified professionals using EU Treaties which are unlikely to be changed or modified. Whilst Spain and the UK are members of the EU they cannot make local laws that contravene their International Treaties, and they cannot legislate against companies which are registered, controlled and operated from another Member State.
It is always necessary to consider every case on an individual basis and our trained consultants can advise on the best structure to adopt for your own Spanish property ownership. Please call 922 781 285 or 699 597 082 to speak to our Canary Islands consultant Rachael Bayliss or visit our website www.winchamiht.com for further details and to obtain your free of charge Spanish Inheritance Tax illustration demonstrating your potential tax liability and the savings you could make by employing a different structure of ownership.  
This information has been provided by Mark Roach, Company Director and Spanish Tax Consultant. Wincham Consultants Limited.

Appears in: Fortnightly edition 394 Tenerife News