La Manga Club and Cartagena IBI frozen for another 12 months
Residential property tax held steady as Cartagena council renews its incentives for investment and job creation
Cartagena’s City Council has approved its Fiscal Ordinances for 2025-2026, confirming the freeze on the residential property tax (IBI) for one more year. The measure safeguards homeowners in the municipality, including those in La Manga del Mar Menor, Isla Plana, La Azohía and La Manga Club, excluding only high-value undeveloped urban plots.
The plan addresses a €4.9 million gap from 2024 due to delayed state transfers, which has now been resolved. Despite inflation pressures, this tax freeze offers stability for residents.
At the same time, the council is reinforcing business incentives: tax rebates of up to 95% on construction permits (ICIO) and 50% on business activities tax (IAE), especially for new enterprises and job-creating freelancers.
Also included are enhanced IBI discounts for large families (up to 90% for special-category families) and extended support for coastal hotels and heritage transfer tax relief.
This balanced package for the next 12 months combines residential tax relief with strong incentives to boost investment and employment in Cartagena’s wider region.
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Image: Ayuntamiento de Cartagena
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Financial Advice Issues for Expats in Spain
I have been a Qualified Financial Adviser for almost 35 years now. 25 years in the UK for major institutions such as Natwest, RBS and Royal London. I have been in Spain giving expats financial advice now for 10 years and it is quite remarkable the different approaches as well as advice that is required for an expat now living in Spain. Blacktower is a company that has specialised in providing the best solutions for its clients living outside the UK for 30 years also.
The currency issue is always high on the agenda and a discussion for the long term future has to be taken onto account. Questions like What will happen if one partner dies? Will the other remain in Spain? What about other family members? What Inheritance tax provisions do you have in place? The list goes on and on.
Existing portfolio’s and investments that were the mainstay of portfolios in the UK may now be obsolete. An example of this is quite often tax efficient products in the UK like ISA’s and previously held TESSA’s PEP’s actually have low growth rates and provide no tax advantage to a Spanish fiscal resident.
Existing Pension holdings either paid by the state or private pensions built up through working lifetimes are topics that have to be covered. Many expats have lots of small pensions from many ex employers and can be confused by the communications and administration in dealing with them. At Blacktower we specialise in advising on how to consolidate and bring all these pensions together in one place.
Bank accounts and investments in Spain always bring up lots of questions too. Quite often the small print associated with financial products in Spain is in Spanish this can make it very difficult even if you have a good grasp of the language. Understanding Jargon in English is sometime difficult enough. I provide clear easy to understand letters and documents in English so that you fully understand any terms and conditions before making a decision.
Advice on tax efficiency is just as important and offering good returns. There are products available exclusively for Spanish expats that can provide invaluable benefits. Having a good base knowledge of the tax implications both now and in the future is an essential ingredient to making a sound decision.
I will complete a thorough factfind, ask you the right questions, establish your individual needs, attitude to risk and capacity for loss and desired returns before providing you with a full written report of advice and my recommendations in plain English. You will then have time to read and consider all the information before contacting me with how you wish to proceed.
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The above information was correct at the time of preparation and does not constitute investment advice and you should seek advice from a professional adviser before embarking on any financial planning activity.
Blacktower Financial Management (Int) Ltd is licensed in Gibraltar by the Financial Services Commission (FSC) and is registered with both the DGS and CNMV in Spain
