Buying a house in Spain non-resident, risks?

[JohnnyDoe]

If it was me it would be Cayman Islands. A lot of other islands have annual property taxes including mine (Bahamas) but Cayman has one time stamp duty and that's it. Cayman is unique in that it has no other direct taxes whatsoever. It makes Monaco seem like a high tax country....lol.

https://taxsummaries.pwc.com/cayman-islands

P.S Cayman Islands government makes its money as below:

Same as Turks & Caicos

 

[Martin Everson]

Same as Turks & Caicos

Turks & Caicos have mandatory National Insurance and National Health Insurance Plan tax if you work there.

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For individuals, the only forms of direct taxation are mandatory contributions to National Insurance (NI) and the National Health Insurance Plan (NHIP).

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https://www.visittci.com/life-and-business/investing/taxes


Cayman islands does not have this. Cayman islands is unique as no tax means no tax


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• Social Security Contributions: There is no social security system in the Cayman Islands.
• Payroll Taxes: There are no payroll taxes levied on employers in the Cayman Islands.
• Income Tax Withholding: The Cayman Islands do not have an income tax.

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https://www.rivermate.com/guides/cayman-islands/taxes


P.S In Cayman except a one time stamp duty on property purchase as mentioned thats basically it.

 

[JohnnyDoe]

Health insurance is compulsory in the CY: https://legislation.gov.ky/cms/imag...ision.pdf?zoom_highlight=health+insurance+act

 

[Martin Everson]

Health insurance is compulsory in the CY: https://legislation.gov.ky/cms/images/LEGISLATION/PRINCIPAL/1997/1997-0015/HealthInsuranceAct_2021 Revision.pdf?zoom_highlight=health+insurance+act

That's private health insurance just like in UAE etc. They insist you have some sort of health insurance if you live there as government does not want to look after you or pay for your healthcare....lol. Thats not a tax.

P.S Thats like saying I am being taxed for driving because they insist I must have car insurance to drive here....lol.

 

[JohnnyDoe]

That's private health insurance just like in UAE etc. They insist you have some sort of health insurance if you live there as government does not want to look after you or pay for your healthcare....lol. Thats not a tax.

P.S Thats like saying I am being taxed for driving because they insist I must have car insurance to drive here....lol.

Once the money has left your account it is gone, it makes no difference where it went.
Anyway both countries are good and similar in terms of cost of living and taxes (or compulsory expenses). More beaches in T&C though, which are basically like the Bahamas.

 

[Martin Everson]

Anyway both countries are good and similar in terms of cost of living and taxes (or compulsory expenses).

Yes I agree


P.S Back to topic.