Your Mallorca dream in safe hands
Mallorca has been attractive to foreign real estate investors for many years and certainly for good reasons. Everyone dreams of 365 days of sunshine, the cool Spanish lifestyle, the famous tapas, the beautiful alleys in the old town. And all this within range of only few hours flight time from the continent. During the last few years, lots of companies have achieved high profits by investing in real estate on the Balearic Islands, particularly in Mallorca, due to the rising prices. https://www.streifzugmedia.com/en/bericht/your-mallorca-dream/
Francisco Mercadal joins the Executive Board of the Barceló Foundation
The director of the law firm Bufete Mercadal, Mr Francisco Mercadal, recently joined the Executive Board of the Barceló Foundation, a non-profit organisation established by the Barceló family in 1989. Its purpose is to contribute to the human, economic and social development of the most deprived individuals, mainly in the poorest countries in Africa and Latin America, and preferably to improve the quality of life of women. Francisco Mercadal affirms, “I accepted the offer with great pleasure, since I admire the work carried out by the Barceló Foundation. I can now participate in its activities and do my bit. I thank the managers of the Foundation for the trust placed on me. It is a true honour to assume this role and, as the new member-at-large of the Executive Board, I will do everything to help achieve its goals.” The functions of the Executive Board include the following: submitting proposals to the Management to improve the Foundation’s internal operating procedures and project approach; analysing, accepting, rejecting or asking for additional information with regard to the action plans drafted by the Management; verifying that projects are approved in compliance with the policies and internal rules of the Foundation and applicable legal standards; […]
What is and what does Family Office mean?
Bufete Mercadal is specialized in this kind of service for financial or Real Estate wealth management for families. We basically offer two important areas in our office. One is Real Estate Law and the other one is the Family Office. Today on this post we will explain what is included in our Family Office service. As per our experience, normally people do not ask for details about a Real Estate transaction as this is a well-known area. However, in several occasions we’ve been asked for more details about the Family Office. Family Office is a service for families that – due to their business volume, their business assets or the sale of assets of the company have to manage Real Estate wealth or financial assets, with the goal of a good management in order to maintain or usually increase the value of them. For creating a Family Office we need a minimum size of wealth and financial volume, and once it is created it must be self-sufficient and generate its own profit. The legal form may depend on different aspects, but normally we create a company with limited liability (Ltd.) Bufete Mercadal is specialist in services for families and/or family […]
COLLABORATION ON THE LOOK MALLORCA MAGAZINE
We are really pleased to share with all of you our latest article in “Look Mallorca”. In this occasion we are looking into the regulations that govern working in Majorca when you’re self employed.
Collaboration on the Look Mallorca Magazine
Bufete Mercadal collaborates with Look Mallorca Magazine. See the link below.
Bufete Mercadal, with the Foundation for Family Business in Berlin
Last week we were invited to the meeting of the Foundation of the Family-owned Companies in Berlin with the title “Investments in Mallorca”. The meeting was joined by German private and important family-owned company investors in Mallorca. The German Consul of Mallorca Sabine Lammers also assisted this great event with a lot of relevant and interesting information for the future investors.
Collaboration on the Cappuccino Magazine
Bufete Mercadal collaborates with Cappuccino Magazine. See the link below.
Francisco Mercadal: “At Bufete Mercadal our services and our culture are based on the details”
The IbEconomy news portal has published recently an interview with the director of Bufete Mercadal, Francisco Mercadal, talking about the activity of the company and its corporate culture. We share it with all of you in our blog, hoping that it is of your interest. The lawyer Francisco Mercadal is the General Manager of the law firm ´Bufete Mercadal’, located in Palma with coverage all over the Balearic Islands. He leads the legal assistance in real estate operations with a transversal focus; purchase-sale, rentals, assistance to promoters, constructors, real estate agents and other participants in the real estate transactions. Bufete Mercadal, located on the entresuelo A of number 17 in Jaime III, will move to a new office in number 7 of the same street after the summer. Francisco Mercadal explains that “we need a bigger office in order to improve the working conditions of our employees and to enhance the quality of the services we offer to our clients”. How do you decribe your company? ¿What is Bufete Mercadal and the services you offer? Bufete Mercadal is a law firm that offers legal assistance with a special focus on Real Estate Law, Family Office and Community of Owners. Our […]
Help with my tax return
We are pleased to share with you al the news os a new collaboration with the magazine Look Mallorca. We are talking about Income Tax Returns for foreigners. We trust that this information is hepful. Many of our readers are people who are not resident in Spain, but with properties or businesses that they carry out in this country. And there are often doubts or lack of information as to whether or not to file the income tax return, and under what terms. That is why we have asked Bufete Mercadal, whose lawyers specialize in real estate law and family office in Mallorca, to clarify this matter. Should non-residents file the income tax return? The answer is yes, but with certain differences as compared to residents. Residents If you are a resident, you have the obligation to annually declare any income, gain and pro t obtained throughout the year. Non residents Non-residents must le the income tax return in each of the accruals through the reverse charge system. It is mandatory to declare any type of income or gain obtained by non-residents. What do I need to declare? Income form urban […]
How to obtain the NIE
The NIE number is a tax identification number, known as the NIE, or more formally the Número de Identidad de Extranjero. This identification number is fundamental for foreigners resident in Spain to manage many legal or burocratic What is the NIE and what is used for? The NIE is a document that foreign people who live in Spain need for identification purposes. It is a sequence, personal and unique number. It is one of the first requirements for foreign people who want to stay in Spain. It allows them to manage any theme, from obtaining a social security number to transfer money or have access to buy a house How can we get the INE? In order to obtain the INE, we must provide with the following documentation: Application Form (EX-15), filled and signed properly. Original and copy of the Passport or identity document, travel document or valid registration card A notification with the economic, professional or social reasons to justify the application. When the NIE is applied via a legal representative, it also necessary to present a power of attorney in with the causes of the application, as well as a photocopy of the passport. Depending on we are in Spain or […]
Before purchasing a property
Buying a property is probably one of the most important economic decissions for both individuals and businesses. That is why it must be done carefully from start to finish, advised by trusted professionals who know the local real estate market well, and above all, can deal with the legal issues that are envolved in such transactions. Leaving in the hands of experienced professionals means less surprises later on, and a watchful eye over the planning and budget so as to keep costs the same as expected. The first step is to carry out a comprehensive check on the property to ensure that it adheres to building code for the area and that this has not been changed without permission. This is a procedure that must be checked with the property’s local council offices. Furthermore, it is also aprópiate to carry out architectural or building maintenance surveys in order to identify any potencial issues, this involves a team led by an architect. The second step is to check that there is no debt/liability on the property. For example, mortgages, taxes or issues with tenants. Thirdly; it is necessary to keep in mind that in Spain there are different tax rates depending […]
Dear all. We have created this space to communicate with, and to inform you of our current activities or any other news and information that we believe will be interesting and of use to you. We would like you to know more about Bufete Mercadal, who we are and what we do, introduce you to our team, whilst at the same time encourage you to share your opinions and comments. We are ready to help you in any possible way.
Donation and inheritance tax
El impuesto sobre sucesiones y donaciones es un impuesto que está regulado por la ley 29/1987, su reglamento está regulado por el Real Decreto 1629/1991. Además debe tenerse en cuenta la ley 21/2001 que cede el tributo y competencias a las comunidades autónomas. Por tanto un tributo que normalmente sería algo simple tiene una regulación compleja, vamos a simplifica un poco las cosas en esta entrada. Este impuesto grava tres hechos imponibles: – La adquisición de bienes y derechos por herencia, legado o cualquier otro título sucesorio. – La adquisición de bienes y derechos por donación o por cualquier otro negocio jurídico a título gratuito entre vivos. – La percepción de cantidades por los beneficiarios de contratos de seguros de vida, cuando el contratante sea distinto del beneficiario. Tenemos a los sujetos pasivos, personas físicas que pagan el impuesto, a los que se les exigirá el impuesto por obligación personal, con independencia de dónde se encuentren situados los bienes o derechos que integren el incremento de patrimonio pagado. Es decir, se paga aunque se trate de acciones de una empresa canadiense o de una vivienda situada en otra comunidad autónoma. Básicamente hay tres tipos de sujetos pasivos: – Los herederos […]
Digital volunteer registration
Cuando tenemos un patrimonio y queremos que alguien más lo conserve o que se le de buen uso después de la muerte, lo más lógico es crear un testamento para que se reparta y se tenga la seguridad de quién y cómo lo manejará. Lo mismo pasa con nuestro patrimonio digital, todo eso que en vida hemos subido a la red y sus plataformas, en algún momento también se deberá decidir cómo se gestionará cuando lleguemos a morir. Nueva ley en base a la muerte digital 1 Nueva ley en base a la muerte digital 2 Si se da la situación de que el fallecido creo tanto el testamento como el registro de voluntades digitales, se dará prioridad al más reciente Se ha anunciado una nueva ley en base a la muerte digital por parte del Departament de Justícia de la Generalitat de Catalunya, donde la decisión del destino de estos contenidos la tendrán exclusivamente los familiares y así se podrá cumplir expresamente la voluntad del fallecido, si es que dejo clara una instrucción expresa De ahí origen de esta nueva iniciativa para que se pueda designar un heredero digital . El cual obtendrá total poder para gestionar el patrimonio […]