DUTY FREE PROPERTY IN SPAIN Before you spend between 6.5% and 10% in taxation and fees buying your property in Spain - visit www.bi-cell.com or call Melanie Ross on 630 254 004 or 928 808 964 or email info@bi-cell.com to discover ‘duty free’ properties that are available across Spain and the Canary Islands.
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A BRIEF TOUR OF BI-CELL What is so great about the Bi-cell protocol is that vendors (i.e. families wanting to sell their houses) ‘position’ themselves so that the buyer of their house saves a very large sum of money. By purchasing their property (and not a similarly priced one outside of the Bi-cell system) their buyer saves most, or even all, of the normal 7%-11% purchase costs in Spain. Selling their property through the Bi-cell protocol: • Assists your buyer to avoid paying unnecessary property transfer taxes • Can save your buyer from paying legal or mortgage fees • Cuts down the normal ‘transaction’ time HOW AND WHY DOES BI-CELL WORK? The Bi-cell protocol works perfectly for property buyers in Spain because it wraps your property assets in Spain inside a legitimate structure – effectively a private family charity or association. Spain accepts this as a legitimate method to control the ownership of Spanish property. This structure would not attract tax savings in the UK or Eire - where legislation places restrictions upon trust arrangements or similar entities – Spain however has no such restrictions. There is no tax evasion involved in the Bi-cell protocol only a legitimate and perfectly acceptable means of tax avoidance. YOU - A PROPERTY BUYER You can relax in the knowledge that you are legitimately able to buy a property in Spain using the Bi-cell protocol and in addition: • You will not be required to pay the average purchase costs of 10% (comprised of 7% transfer tax, 2% mortgage fees and taxes and 1% legal fees). See potential savings in the table below.
buying and selling property in Spain tax free house price
min saving
max saving
€150,000
€10,500
€15,000
€250,000
€17,500
€25,000
€300,000
€21,000
€30,000
€400,000
€28,000
€40,000
* If, at a later stage, you decide to sell your property there will be additional benefits and further savings. YOU – A PROPERTY SELLER (VENDOR) You are able to relax in the knowledge that you have the option to sell your property in the standard way through an estate agent OR make substantial savings through the new Bi-cell system, by which: • Prospective buyers would seek you out in order to save costs (Would you rather pay 30,000€ in fees to buy a 300,000€ house or purchase an almost identical one next door and pay close to ZERO costs?). • You could replace all estate agent fees with a Bi-cell registration fee of 100€! • If you are currently eligible to pay capital gains tax following the sale of your property this is likely to be reduced or eliminated. Please note: if you are a non-resident (in Spain) you will save the 3% that must otherwise be deducted from your selling price. See the tables below. Resident Selling price
150k
250k
300k
Net of estate agent 142.5 (7.5)
237.5 (12.5)
285 (15) 380 (20)
Vendor happy with? 141k
239k
288k
386k
Bi-cell
9
11
12
14
150k
250k
300k
400k
Non resident Selling price 150k
250k
300k
400k
Net of estate agent 142.5 (7.5)
237.5 (12.5)
285 (15) 380 (20)
Retention 3%
230 (7.5)
276 (9)
138.5 (4.5)
400k
368 (12)
Vendor happy with? 141k
239k
288k
386k
Bi-cell
9
11
12
14
150k
250k
300k
400k
WORK FROM HOME & ENJOY LIFE Families wanting to save ‘000’s buying or selling their property in Spain require information, support and assistance from local well informed bi-cell realtor agents - working on a full or part-time basis from their own home in hours to suit. You can earn 1,000 euro a month, a week or a day as a bi-cell agent. For information, Contact Melanie Ross on 630 254 004 or 928 808 964 or email info@bi-cell.com or visit www.bi-cell.com
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buying and selling property in Spain tax free