MORE FREQUENT QUESTIONS
Are you an agency that handles administrative procedures?
No, the Fandos Law Firm is not an agency of that kind. We offer and provide management and accountancy services for any kind of business but that always goes hand-in-hand with the legal and tax advice that is essential in our sector. In-depth, coordinated knowledge of the legal regulations, combined with experience, are the cornerstones of the way we work, avoiding present and future problems. Since regulations are constantly changing and becoming increasingly complex, especially in recent years, nowadays a mere agency service is not enough to guarantee professionalism. Actually, it tends to be people and companies who thought they were doing things correctly that have a lot of problems.
Would you recommend having several different firms handle different cases involving a single person or company?
Generally speaking, no. Certain aspects of business are closely connected to one another: accounts, tax affairs, commercial matters, personal taxation … Although each professional must have their own practice area, it is highly advisable for them to work together and not only coordinate with one another but also have an overview of the client’s needs at all times. The advantage of our firm is that we have professionals who specialise in each of these areas but who are constantly aware of what their colleagues are doing, even if they work in a different field. We work as a team and there is a constant flow of information between us, which enables us to provide comprehensive, coordinated and complete advice to our clients. Our advice generally covers issues that affect both companies and the businesspeople themselves. We also have trusted colleagues we can bring in from outside when necessary, who coordinate their work with us just like we do internally, for more specific areas that occasionally arise.
Do you provide advice on negotiations?
Of course. Legal, tax and even financial aspects are an essential part of negotiating any kind of deal. If you are looking to purchase or sell property (even just an apartment), we are aware of all the ins and outs you need to watch out for, take account of and protect yourself against. Indirect taxation on all kinds of property transactions is particularly complex and that is one of the fields we specialise in.
Does the concept of tax planning really exist?
It certainly does. Choosing to invest or divest in one way or another, or structuring a person’s financial affairs so as to minimise the tax payable by their business, themselves or their future heirs, is completely legitimate and legal. In fact, not being aware of how the various regulations interact with one another is what often results in taxes being payable. By that time it is already too late to take action. Good tax planning is essential to prevent this. The only enemy in this context is unforeseeable changes to legislation although, generally speaking, there tend to be rumours before changes take place, which gives you some room for manoeuvre.
Are you also able to advise people who do not live in Spain?
Absolutely. Not living in Spain does not mean you do not have tax obligations here if you are involved in certain transactions in our country. These could be property investments (of which there has been a surge in recent times), buying or selling goods, online sales, setting up branches or even companies, hiring of employees by a foreign company … All these involve tax and legal obligations, whether VAT, non-resident income tax and even inheritance or gift tax in the future. Our firm knows all about this field and we are well-used to working with foreign clients. We also offer the advantage of being able to serve you in English or French without any difficulty, which foreign clients tend to appreciate.
What makes you different to other firms?
We essentially take a personal approach. We get very involved and interact personally and naturally with our clients. We like them to feel comfortable and well looked after. Commitment is the foundation of what we do. We handle cases with care, as if they were our own: there is a person behind every transaction or business deal. We regard that human aspect as an essential part of the rigour and knowledge that our profession requires: no-one is just a number. We take great effort to build trust: we would like all our clients to become our friends or at least see us as such.
We also have long-standing, extensive experience in all the areas we handle, which is a guarantee of results and professionalism: we know what we are doing.
Can you provide advice outside of Spain?
Not directly and we recommend you do not trust any Spanish law firm that says the opposite. Gaining the in-depth knowledge of the legal system of a single country in order to be able to provide good advice is extremely difficult in itself. It requires professionals to have an academic grounding and to keep constantly up-to-date with changes, as well as practical experience. Also, in Spain, some taxes are raised by the various regions and there are many differences between them. However, we have many reliable contacts abroad that we can work in coordination with and we can recommend them when necessary.
What if I simply want to buy an apartment in Spain as a foreigner. Can you help me?
Of course. We can advise and walk you through the entire conveyance process as well as the taxes involved during and after. Remember that if you do not live in Spain you will still have to pay certain taxes here for owning property, whether or not you rent it out. If you are intending to purchase several properties, we can advise you on planning the ideal structure. It is much more difficult to achieve a tax-efficient structure when you have already purchased the properties than if you are thinking of investing: changing the ownership of properties in Spain is expensive, so it is best to put them in the best possible structure from the start.
How do you provide your advice?
That naturally depends on where the client is and where they are originally from. We generally try to set up an initial meeting with the client so we can get to know one another and they can tell us about their concerns and give us background information. You can also do this by e-mail or over the phone if it is not possible to meet up or even do so beforehand. During the meeting we will define the case and what needs to be done. After a prior study of the case we will send you a quote for how we can handle your needs. If you agree to proceed, we will then keep you constantly informed of what we are doing and the results. Communication with us is smooth and continuous. Face-to-face meetings are not always essential: we have many foreign clients with whom we communicate by e-mail or telephone when necessary. Technology has taken great strides in this regard.
Do you also provide services in addition to advising and carrying out procedures, such as obtaining a foreigner identification number or tax identification number, opening a current account in Spain, etc.?
Yes, we do provide such services. We make procedures as easy as possible by minimising the documents that have to be provided, giving precise instructions, arranging certified translations ourselves when they are necessary and, most importantly, we act on our clients’ behalf with specific powers of attorney. Obviously, we can handle everything except obtaining the documents you need to provide.
I need to make a will and arrange my estate for my children. Can you advise me on that?
Yes, we have extensive experience in such matters. We not only handle the entire inheritance process after someone has died, including cross-border issues, but can also help you with appropriate planning in terms of both family and tax matters. We advise you on the most ideal formula for making a will based on your needs and wishes. It will be tailor-made and we will go with you to sign before a Notary Public. We endeavour to optimise the structure of your estate to minimise both taxation and the future cost of inheriting as far as the law allows.
Do you also handle contract-related matters or court cases?
Naturally, these matters are also included in the services we provide. We revise or draft contracts of all kinds (earnest money, options, commercial contracts, sales, services, leases, etc.). We assist the client by going with them to the Notary Public when that is necessary. We also provide legal advice on any kind of court proceedings within our practice areas. Once again, if it is a very specific area in which we are not specialists (such as planning or criminal law, for example) we have trusted colleagues we can recommend to our clients and we always work in coordination with them.
Would it be better for me to sell my company or the property it owns?
That depends on many things. Generally speaking, the purchaser would always prefer to buy the property, while the seller would always prefer to sell the company. The main reason is that when a company is purchased, the purchaser takes on all the contingencies involved and also buys the property at its historic value, which means the purchaser will bear the cost of the underlying capital gains when it later sells it at its market value. Therefore, buying a company generally requires prior due diligence, which makes it more expensive and makes the deal take longer. However, it is all a matter of negotiation, circumstances, price and guarantees. We can assist you with the entire process and even calculate the price at which you should carry out the deal based on the particular circumstances so that you receive the resulting net amount.