Question
Can I use the capital gain (profit from my home sale) for the IPREM for the non lucrative Spain visa? It will be more than enough?
Answers
These are the answers of some Facebook group members:
”Yes, we did through the Miami consulate. We had to prove that was where the money came from ie house contract”
”You may be liable for capital gains tax in Spain. Their tax year is January to December so maybe best moving before the new tax year starts. Possibly before end of December this year”
”So long as you are not in Spain for more than 183 days out of the year you should not Velia le for taxes on the profits of the house sale. Make sure to count any days you were in Spain for vacation or scouting for the same year or you could end up a tax resident and not know it”
”you only become a tax resident after 183 days in Spain. What you are saying is correct. However, you can also sell in what’s left of 2022 and move to Spain in 2023. Basically anytime less than 183”
”Yes. Simply ensure you provide documentation from the sale of the home and have this translated”
In conclusion, according to Spainguru Facebook group members, using the capital gain from your home sale for meeting the IPREM index based funds requirements in your NLV application for Spain seems feasible. Documenting the source of funds, such as the house contract, is crucial. Consider the Spanish tax year (January to December) and potential tax liabilities. To avoid tax residency in Spain, stay less than 183 days in Spain within a single tax year. Translated documents related to the home sale should be included (Find here recommended sworn translators).
