HOW TO AVOID PAYING CAPITAL GAINS TAX

Aug 27, 20241 min read

Capital gains tax can take a substantial chunk out of your profits, but there are certain scenarios where you can minimize or even eliminate this tax burden.

The Golden Trio: Age, Fiscal Residency, and Primary Residence

For individuals who meet the trifecta of being over 65 years old, a fiscal resident of Spain, and selling their primary residence, a unique opportunity arises to avoid capital gains tax.

Age Advantage: If you're aged 65 or older, the Spanish tax system offers certain concessions, including potential exemptions from capital gains tax.
Fiscal Residency: Becoming a “Fiscal” resident of Spain is key to unlocking these tax benefits.
Primary Residence Status: If the property you're selling has been your main home for at least three years before the sale, you may be eligible for significant tax reductions or exemptions.