Spain proposes 100% tax on homes bought by non-EU residents

Re:Spain proposes 100% tax on homes bought by non-EU residents by matt-p on Monday January 13, 2025 @07:39PM (#42691803)

I think the ship has sailed, but regardless isn't it all meaningless? Surely they can setup a company to get around it, or will be ban all foreign ownership of shares too?

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Re:Spain proposes 100% tax on homes bought by non-EU residents by zdragnar on Monday January 13, 2025 @08:01PM (#42692032)

Land is a public good, insofar as "buying" the land still comes with obligations to the state (paying taxes, conforming to building codes and zoning regulation, etc). Just because you "own" it doesn't actually mean you can do as you please.

Given all of that, it is not unreasonable to limit or outright prohibit foreign ownership of land, or ownership of land by companies which are not majority-locally controlled.

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Re:Spain proposes 100% tax on homes bought by non-EU residents by matt-p on Tuesday January 14, 2025 @03:43AM (#42695095)

It's interesting, I just think the second order effects might be a bit scary.

Having said that I guess for FDI there's always the option of getting a local company to "JV" with like in China.

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Re:Spain proposes 100% tax on homes bought by non-EU residents by CommanderData on Tuesday January 14, 2025 @02:22PM (#42702402)

Assets cant be shipped overseas. They are here, in the UK. That's the beauty of it. Taxes can force them back to UK ownership.

The rich are buying the only asset the middle class will ever probably own, housing.

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