Move over Barcelona

ALICANTE has overhauled Barcelona for the number of people staying in tourist apartments during 2022.

A University of Zaragoza study shows there were 155,726 stays in Alicante last year, compared to 145,501 in the Catalan capital.

It’s an impressive turn round for Alicante, which lies seventh nationally for holiday rentals, with Madrid and Benidorm continuing to dominate reservations.

4.4 million people invest in cryptocurrency in Spain. However, over 40% of them believe they do not need to declare these earnings. The gains are calculated deducting the purchase value from the sale value and are taxed at the following tax rates:

Less than €6,000 - 19% income tax

Between €6,000 and €50,000 - 21% income tax

Between €50,000 and €200,000 - 23% income tax and goals. They should be interested in your personal circumstances, rather than simply talking about the products and services that want to push or a single product they would like to sell you, such as a ‘Spanish Compliant Investment Bond.’

Over €200,000 - 26% income tax.

THOROUGH ANALYSIS OF YOUR NEEDS

Steer clear of any financial adviser that offers a report that is short on content and detail.

SALES PRESSURE TACTICS

Avoid a financial adviser who uses high-pressure sales tactics to force you to make a decision more quickly than you feel comfortable with.

SINGLE PRODUCT VERSUS WHOLE OF MARKET

Do not engage with firms that offer the same products to everyone - Spanish Compliant Bonds. A good adviser should provide best advice rather than one-size-fits-all remedies.

BE CLEAR ON PAYMENT

Avoid any nasty surprise charges by clearly establishing how much you will pay before embarking on a course of action. Always ensure all charges are disclosed upfront.

HOW IS YOUR FINANCIAL ADVISOR PAID?

Work with financial advisers that are being paid a salary. An adviser who is on commission is unable to offer impartial advice – as his objectivity is compromised. If getting paid is contingent on obtaining sales, you cannot expect a commission-only advisor to be working in your best interests. Before committing, ask your advisor to confirm in writing if they are commission-only renumerated or salaried.

We are in the Murcia/Costa Blanca area from 15th until 19th May 2023 and available for meetings throughout the area from Torrevieja to Murcia.

If you feel you would benefit from a second opinion please email enquiries@fwm.gi or call us on tel: +44 207 998 0570 www.fiduciarywealth.gi ● www.financialplanningspain.com

Our financial advisers are fully licensed, qualified and regulated to provide financial advice in Spain and across the EU.

Losses can also be declared and may translate into paying 25% less annual tax during the following four years. Those who have virtual currency but are not trading do not have to include them in the IRPF declaration form. This comes at a time when the Olive Press is doing an ongoing investigation on crypto company Globix. It is alleged that Globix bosses took out €11 million just before the company collapsed.