Latest Development News

How to make Spanish property pay

By Jenny Sheen

A lending and investment scheme aimed at British owners of Spanish property is being devised by the Premier Group, a leading Isle of Man investment firm.

The final tax and legal details are currently being completed, with a launch expected in March.

The idea is to help Spanish homeowners release cash from their property for investment. This may help plan for retirement or for Spanish inheritance tax liability, which can bite more deeply than its UK equivalent as there are fewer exemptions.

Many Britons who bought homes in Spain 15 or 20 years ago for a few thousands have seen the value of their homes rise 10 fold. The effect of borrowing against the property will reduce the net estate liable for inheritance tax.

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Málaga: Did anyone mention Picasso was born here?

Time Out: Málaga

Maybe it’s the retina-wrenching intensity of the light or perhaps it’s the choppy geometrics of the hilltop fortress, but Picasso believed that: ‘To be a Cubist one has to have been born in Málaga.' The city’s claim to one of the greatest artists of the 20th century is not something any visitor is allowed to forget. Since the Picasso Museum opened in October 2003, the hard sell has been relentless but it should at least draw attention to Málaga’s other charms: a tangible Moorish past and a lively street life full of great shopping, bars and restaurants.

Although it’s easy to forget, there was life in Málaga BC (Before Cubism) and the city was once a major port serving the Arabs in Granada. The city’s main mosque was demolished in 1528 for the construction of the baroque cathedral (C/Molina Lario, +34952215917). It was never completed and is known as La Manquita, or ‘The One-Armed’, because of its missing east bell tower.

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