The stuff is all about the matter of tax evasion in Spain. According to the rule of the country since 2012 the residents of Spain who spend more than 183 days per year in the country are liable to pay taxes on the assets over €50,000. The asset includes shares and investments, property, deposits and savings.
This rule caused a great hassle especially among the expats and a huge number of foreign residents even prefer to go back to their countries of origin.
The Potential fines for not declaring any assets are €10,000 coupled with 150% of the tax owed and additional 4% interest for the unpaid tax.
Spain government is very strict about collecting tax. Required laws are there to regulate the tax evading persons, while at the same time they have proper arrangements mortgage or loan.
The application procedure to get mortgage or loan is completely secure and simple. This confidential application form takes two minutes to fill out. This established a secure connection between our customers and the bank. Therefore, we can assure you that your information is being sent securely and to the right place.
Mortgage & Loan Regulations:
When processing your mortgage or loan, Spain does not carry out any credit check. This means that almost everyone is eligible to obtain a loan from us. By offering no credit check loans is one of the ways that Spain does help applicants who have been denied for loans elsewhere to get the money they require at their need.
Spain banking is committed to responsible lending. They collect and maintain information on consumers’ and businesses’ credit behaviour. In addition to this, they don’t permit you pile up the debt with them. In this way they try to build long-term relationships with their customers. They only lend to you once again if you have paid back your current loan.