Company & Taxes

Our company, law & taxes on Mallorca and career opportunities

Globo21 Exclusive Service Group S.L. is a family-run business. With more than 10 years of experience in construction, maintenance and sales operations, we have a unique and close relationship with our customers. In 2020, at the request of our customers, we also decided to enter the boating industry, which our staff and expertise in this field made possible long before.

 

We worked with great determination to offer our customers the very best. In 2022 we have fixed our focus on Spain and Germany and are planning further expansions to Italy and Austria.

One-time Taxes:

  • When buying a property in Spain, you either have to pay Value-Added Tax (IVA) or Real Estate Transfer Tax (ITP)!

 

Value-Added Tax (I.V.A.):

  • Value-Added Tax only applies to purchases made by a business. The tax is 21% when selling building land and business premises. For new buildings as a first-time sale of e.g. condominiums and single/multi-family houses, it is 10% IVA. Subsequent transfers are not subject to Value-Added Tax but to Real Estate Transfer Tax.

 

Real Estate Transfer Tax (I.T.P.):

  • Real estate transfer tax applies to all sales that are not subject to Value-Added Tax. It is a regional tax, meaning the amount can vary between the different individual autonomous regions. For the real estate transfer tax the Balearic Islands currently charge:
    • For the first €400,000 the transfer tax is 8% of the purchase price
    • Between €400,000.01 and €600,000 the Real Estate Transfer Tax is 9%
    • From €600,000.01 to €1,000,000, a tax rate of 10% is charged
    • Purchase prices over €1,000,000 are taxed at 11.5%

Ongoing annual taxes

 

The property tax for non-residents:

  • The property tax is set by the municipalities and is between 0.4% and 1.1% for developed properties and between 0.3% and 0.9% for undeveloped properties throughout Spain.

 

Income tax (IRPF) for self-use of the property:

  • The tax amounts to 19% on 1.1% of the declared cadastral value.

 

Income tax for rentals:

  • If rented by a non-resident, income tax of 19% must be paid on the rental income for this period. However, various costs are also deductible here, such as community costs, property tax or repair/maintenance costs.

Notary fees:

  • These are based on a table of fees and amount to between 0.1% and 0.3% of the purchase price.

 

Register costs:

  • Land register costs are between 0.1% and 0.2% of the certified purchase price, according to the table.

 

Gestoria cost:

  • In Spain, the purchase is processed by a Gestoria. This takes care of e.g. the payment of the real estate transfer tax as well as deletions and entries. A processing fee of between 200 and 1000 euros will be charged for this, depending on the effort involved.

 

Brokerage fee:

  • In Spain the real estate agent is paid by the seller! The brokerage commission is between 5% and 6% plus Value-Added Tax (IVA) of the agreed purchase price.

Your chance in the highly competitive job market. Globo21 is already one of the leading companies on the beautiful island of Mallorca. In order to achieve our goals of expanding so strongly and in a targeted manner in the sensitive real estate market, we are constantly looking for employees. We are not only looking for the ideal employees who have in-depth knowledge of our industry and are among the professionals, but we would also like to make it possible for people who are new to the industry or career changers to join us. You will receive concentrated sales trainings, support through on-the-job coaching, familiarization with the in-house broker IT program, the help of an experienced office team and everything else that goes with it to make you an absolutely qualified employee in the real estate industry who can face any challenge, has grown and likes to identify with our company - this guarantees long-term satisfied customers and high sales. We also offer you a pleasant working atmosphere among nice colleagues in modern offices. You have the option to choose to work on either a fixed salary plus sales commissions or on a freelance basis plus commissions.

 

What do we expect from beginners?

  • Honesty, reliability, language skills (German, Spanish, English), a high level of commitment, sales talent, correct demeanor, fun dealing with customers, a certain level of professional experience and should be used to working in an international team.

 

Let's work on your career. We are looking for the year 2022 in Mallorca:

  • Real estate consultant
  • Employees for the construction & horticulture sector
  • Mason worker
  • Drywall worker
  • Tilers

 

Please send us your comprehensive application, including your CV and photo, to "info@globo21.com". For further questions, do not hesitate to contact us directly!