Search
Specialist tax advice makes the difference
Services / Capital Gains Tax

Capital Gains Tax

OverviewGuides

Capital gains tax in France, Spain, Portugal, Cyprus and Malta

Most countries levy a tax on capital gains made on the sale or transfer of property, shares or other assets.  Depending on the country and type of asset (real estate can be taxed differently to movable assets), you may be taxed on a sliding scale or at a fixed rate.

With careful planning, it’s often possible to minimise your exposure to capital gains tax.  In any case, the main home is often exempt.

Where Will You Pay Capital Gains Tax?

France, Spain and Portugal charge tax when you sell real estate and investments for a profit.  This will apply if:

  1. You are resident in France, Spain, or Portugal, regardless of where the asset is located and when you purchased it, and/or
  2. The asset being sold is located in that country, regardless of where you live.

Cyprus only taxes gains made on local real estate.  No tax is levied on the sale of shares and other securities or overseas property.

In Malta, foreign residents (non-Maltese domiciled individuals) are only liable to capital gains tax on assets located in Malta.

Some countries, such as Monaco, do not have a capital gains tax.

Capital Gains Tax for Expatriates Selling UK Property

Being a tax resident in Spain, France, Portugal, Cyprus, Malta or Monaco does not exempt you from paying UK capital gains tax on British property.   You are liable to tax on the gains made since 2015 for residential property and 2019 for commercial property.

If you are tax resident overseas, your UK shares and other assets may still be tax-free in Britain, provided you’ve been a non-UK resident for long enough.

The relevant double tax treaty will prevent you from paying the full level of tax twice on the proceeds of a property or asset.

How We Can Help You Minimise Capital Gains Tax

Blevins Franks can advise you on your capital gains liabilities, tax rates and steps to avoid or mitigate this tax, particularly for your investments.

If you’re looking to set up permanent residence in Portugal, Spain, France, Cyprus, or Malta, seek advice before you move to establish the best time to sell assets to limit capital gains tax. You could potentially save considerable tax by waiting until you’re resident in one country rather than another before buying or selling property.

Arrange a consultation with your local adviser

DISCLAIMER
The tax rates, scope and reliefs may change.  Any statements concerning taxation are based upon our understanding of current taxation laws and practices which are subject to change. Tax information has been summarised; an individual should take personalised advice. 

Share this page
Blevins Franks has been providing specialist financial advice to British expatriates across Europe for 50 years. Our expertise covers tax, estate planning, pensions and investment management to offer a genuinely holistic approach to financial planning.
Make an Enquiry
28 St James’s Square, London SW1Y 4JH
Gasan Centre, Triq il-Mergħat, Zone 1, Central Business District, Mrieħel CBD1020
+44 (0)20 7389 8133 Make an Enquiry

We want people to be able to easily access and understand the information we provide, so if you need further help to access information on this website or key documents in a different format or setting, please contact us via your Blevins Franks adviser, by email or by phone.

[email protected]   +44 (0)20 7389 8133.

Blevins Franks Financial Management Limited (BFFM) is authorised and regulated by the Financial Conduct Authority in the UK, reference number 179731, to provide advice in the UK. Blevins Franks Wealth Management Limited (BFWML) is authorised and regulated by the Malta Financial Services Authority, registered number C 92917 to provide advice in Malta and other EU countries in line with its [IDD and MiFID] passporting permissions. It is authorised to conduct investment services under the Investment Services Act and authorised to carry out insurance intermediary activities under the Insurance Distribution Act. Where advice is provided outside of Malta via the Insurance Distribution Directive or the Markets in Financial Instruments Directive II, the applicable regulatory system differs in some respects from that of Malta. BFWML also provides taxation advice; its tax advisers are fully qualified tax specialists. Blevins Franks Trustees Limited (BFTL) is authorised and regulated by the Malta Financial Services Authority for the administration of trusts, retirement schemes and companies. BFFM, BFWML and BFTL are all part of the Blevins Franks Group Limited (BFGL) whose registered office is Gasan Centre, Triq il-Merghat, Zone 1, Central Business District, Mriehel CBD1020, Malta. This promotion has been approved and issued by BFWML and BFFM for respective use in the EU and UK.

© Blevins Franks