Whoever invests in Mallorca is creating more than just property – and is also entering new tax and legal territory. The specialists at artax show why international advice is essential.
For many, buying property in Mallorca is the epitome of a fulfilled lifestyle - whether as a private retreat, investment property or permanent residence. But as romantic as the thought of living under the sun may be, the tax and legal framework associated with such a move is complex. The tax landscape quickly becomes a minefield, especially for cross-border living models.This is precisely where the artax team of specialist advisors for international tax law comes in. The southern German law firm, which is also based in Zürich and Palma de Mallorca and has proven expertise in German-Spanish tax law, sees itself as a strategic partner for all those who invest, work or live in Spain - without risking unpleasant tax surprises.„What at first glance appears to be a simple change of residence or real estate purchase can have serious consequences without proper tax planning– for example in the case of inheritances, gifts or the relocation of company assets“, says an artax spokesperson. Because Mallorca is not only a different place to live, but also a different legal area – with different rules of the game.
Particularly problematic: Many owners realize too late that they have long been considered tax residents in Spain. In combination with German tax law, double taxation or considerable obligations can quickly arise, especially in the case of unresolved matrimonial or inheritance law, business assets or hidden reserves. artax therefore pursues an integrated advisory approach that takes into account the private and business environment as well as national and international tax obligations.
This means that anyone already living on the island or planning to buy a property should bring a tax strategist on board at an early stage - ideally one who is at home in both countries. In addition to legal precision, artax advisors also have cultural understanding – and support their clients with foresight, transparency and the necessary foresight.
Property in Mallorca offers enormous quality of life – but also tax responsibility.
If you want to secure your investment in the long term, you need more than just a tax advisor. They need a partner,
who thinks beyond borders. artax is exactly that: a pilot for sophisticated life and wealth planning between Germany, Austria, Switzerland and Mallorca.
ARTAX - Jürgen Bächle, tax consultant and specialist advisor
for international tax law
CEO of artax International Tax Consulting GmbH
info@artax.com | www.artax.com
