2015/2016 brought some important changes to both Spanish Wills and Inheritance Tax.
As of 1st January 2016, the Canarian Government has re-introduced a hugely popular Inheritance Tax discount of 99.9%. The discount applies to gifts (both during lifetime and under a Will upon death) left to Class 1 (spouse) and Class 2 (children) beneficiaries. The property being left or gifted must be situated in the Canary Islands. The discount applies equally to residents and non-residents, although certain small print exclusions apply - e.g. where a larger percentage of the estate property is held in other regions of Spain outside the Canary Islands.
Given that this tax break could easily be withdrawn by a future government, many Tenerife property owners are now taking advice as to the benefits of gifting property to loved ones now whilst the tax break is in place, rather than rolling the dice under their Will upon death.
Changes to Spanish Wills
The European Union has int...
Considering moving to the Island of Eternal Spring? - Take a long term rental property in Tenerife before you buy!
Many people's life-long dream is to live where it is always sunny and warm! While very few people are lucky enough to achieve this goal, many people still do. The Tenerife Property & Business Guide's advice to anyone thinking of coming to Tenerife to ‘live the dream' is simply this: consider long term rentals in Tenerife before you think about buying!
The reason for this is simple: if you buy first and don't like where you have bought, it can be a costly exercise to re-sell and buy somewhere else. Often people coming here come precisely because they have just had a great holiday, in say Los Cristianos or Las Americas – both hugely popular holiday resorts with masses of bars, restaurants, nightclubs, beaches, excursions and so on. There are literally loads of things to do, and loads of people to do it with. However, ‘living' here is VERY different to being on HOLIDAY here! You will soon find out that the apartment you have bought ne...
Santiago del Teide, set 1,000 metres above sea level in the lovely, dramatic Valle de Santiago, is the capital of the municipality of the same name, also including Puerto de Santiago and Los Gigantes.
It is said that the conquistadores, who wanted to set up sugar cane plantations, gave the land back to the local Guanche Mencey (native king) because the area was not suited for this type of cultivation and therefore of no interest to them. There are still examples of Guanche names in the area and Guanche blood still runs in the local veins. Local women can be seen wearing traditional garb, typically black dresses, with the men having a liking for black fedoras. However, when I mentioned this to a gentleman I met wearing this apparel, it turned out he hailed from Venezuela!
Probably best known as the gateway to Masca, Santiago del Teide is also famous for the almond festival. Each year, the Ayuntamiento (local authority) sponsors the Ruta del Almendro walks, which are very popular with both Canarians and tourist visitors alike. There are a few different routes you can...
Our aim is to give our visitors useful information about Tenerife, population c750,000, and situated in the Atlantic Ocean about 200 miles off the coast of West Africa. Tenerife, like the other Canary Islands, is a protectorate of Spain, but NOT part of the EU - so watch your Customs Allowances on cigarettes and liquor when travelling home to EU member countries such as the UK!
With a land area of just over 2,000 square kilometres, Tenerife is the largest of the 7 Canary Islands (Tenerife, Gran Canaria, Lanzarote, Fuerteventura, La Palma, El Hierro and La Gomera). Although quite small, the island has as many different climatic zones as a continent and you can see many different types of agriculture from the growing of potatoes and grapes to the commercial cultivation of banana, lemon, peach, apricot and orange trees. You can also see snow covered mountain peaks whilst sunbathing and swimming in the warm coastal waters!
The island’s dominant feature is, of course, the inert (but NOT extinct!) volcano, Mount Teide. At 3,717.91 metres (12,198 ft) Teide (pronounc...
THE TENERIFE PROPERTY AND BUSINESS GUIDE
Welcome to thetenerifepropertyguide.com – the website of The Tenerife Property Guide, which publishes 72 pages of property and businesses for sale, long term rentals and a magazine section every month.
We have organised our website along the same lines as The Tenerife Property and Business Guide, in that we have created the following Sections:
Residential Sales - you can search for a property by price band and by area from the range of small geographical areas that we have created around popular destinations – Adeje, Callao Salvaje, Costa del Silencio, Golf del Sur, Las Americas, Los Cristianos, Los Gigantes, Tenerife South – Other Locations, and North and East Tenerife. You can choose from, literally, thousands of properties – from a luxury villa or townhouse, to a bungalow, rustic house, apartment or studio, to a finca (working farm) – all catalogued and easy to find!
Long Term Rentals – there is always a good selection of apartments, studios, house...