Dear friends,
At Artemis Assets we believe that for investors to be successful they should be challenging widely accepted beliefs. You might have all heard the well-known axiom “…in this world nothing can be said to be certain, except death and taxes.”, which has been attributed to several people including Benjamin Franklin, Daniel Defoe, and Christopher Bullock. As investors, we can either just sit with our hands crossed and accept it or we can challenge it.
We think that this axiom is wrong in the Spanish Real Estate context. Like a good judo player, we want to use our opponent’s (in this instance the tax authorities) weight and strength against him. The tax authorities always want us to be transparent with them. We can do exactly that and we can show them exactly how much we spend in our Real Estate investment. The catch is that expenses are deductible, so the more transparent we are the better it is for our bottom line.
These expenses include utility bills, mortgage payments, municipal and regional taxes, building association expenses, refurbishment costs, and Artemis’ fees. The more we declare, the smaller our tax exposure becomes. It gets even better, as the bigger expenses can be deducted over a longer period. For example, a refurbishment that costs €40K can be deducted over 2 or 3 years to ensure that our tax exposure is always kept down to single digits percentage of our rental income.
We are happy to introduce you to our Tax consultants, they do an amazing (and affordable) job for us and they can assist you too. Further, while the majority of the tax deductions are aimed at EU citizens, Artemis and our tax consultants can assist non-EU citizens to enjoy exactly the same benefits.
We have complied all this info in a short presentation for you, where we analyze the opportunity to increase our investment yield by lowering our taxes. Feel free to share it with anyone who wants to know how to achieve financial freedom with Artemis Assets.
Lastly, Artemis Assets is hiring in Spain and abroad. If you know somebody who has Real Estate and/or Wealth Management experience and wants to be part of a dynamic emerging start-up please put us in contact.
Until the next one!
