Bank Account Advice

[yorksblue]

Hi,

Am currently in early stages of purchasing property in Corralejo, need to open a bank account. Going to be using villa for both personal and rental purposes.

Which is best local bank to deal with ??

[decho]

I bought here a year and half ago and went with Banco Sabadel. They have a branch in the Main Street, most of them can speak English and they have online banking in English. Been very happy with them. Out of interest where are you buying? Still some good bargains around but I am amazed how many properties are being sold at the moment and how much more life there is about the place compared to when we bought.
Feel free to PM me for more info.

[yorksblue]

Thanks for that.
Am buying in Vistas Del Mar. Should be sorted in next couple of months.
What level of charges do they levy as I've heard some banks can be fairly high?
.

[Archer]

Most important, ask how much they charge to raise the check needed for the Notary. Santander charged us over 500 euro, and despite our protestations never gave a cent back. Be warned!

[IsThisForumStillGoingWow]

Hi Yorksblue, you say you will rent it out too...you do realise it's illegal to let short term ie less than 3 months unless you have one of those elusive magical touristic licences (rarely seen and said to be delivered with fairy dust by a magical unicorn)

[yorksblue]

Yes, I'd heard about the rental issues. Do the authorities enforce this rule though? I'm tOld you cannot get licences at the moment, but it's OK if you rent out through a registered company. Which seems right, because a there are loads of properties available for short term rental!

[esty]

No it´s incorrect even though an agent has a licence to rent out properties for tourist use, the properties have to be legal and have a tourist licence. The authorities have tried their best to fine people for doing so mostly in Tenerife without any success to date. Most of the rentals you see on the likes of owners direct are renting illegally and are prepared to take the risk. The government are currently working on making it legal to rent out residential properties and have recently drawn up a draft regulation it can be found here http://www.janetanscombe.com/draft-regulation-for-private-letting
Hopefully the regulation will be accepted and people will be able to apply for a tourist licence in the near future. I would expect everyone will have to jump through hoops to attain one and I can´t imagine it´s going to be cheap however I think it will be good for tourists and owners alike in the long run at least everyone will know where they stand.

[IsThisForumStillGoingWow]

I really can't see why they dont say 'Give us 1Kâ,¬ , we'll give you a tourtisic licence' tbh...they'd make more money by people rushing to get the licence so they could let their places out than they ever could through the fines 

[yorksblue]

So whats the latest on the tourist rental fiasco? have the Canarian gov't made it clearer yet. Can a private villa be rented out for tourist lets?

[RVEEE]

There are no touristic licences currently being issued for rental private properties.

Probably there will be a few politicians riding round in Rollers out of the controversy - there are some in gaol already and possibly more to come. But when they come out they will still be millionaires.

It's not a question of â,¬000s - it's â,¬000,000s - being paid by major chains to stop the private rental market and force visitors into their hotels. When the EC forces the authorities to comply with the law, they will require conditions on licences that will still be stringent. For example, possibly life guards on all pools when open. Sounds fair enough when it's a hotel but totally impractical on a private house.

So good luck, we'll all need it. Including those who live on the island and will benefit from a decent economy.
/In my area the only shop keeps shutting and the sole bar struggles to survive due to lack of trade in a beach village. Go figure, as they say.

[yorksblue]

Sounds a mess!, maybe the collapse of the local economy is the only thing to make them take notice. Nowhere to drive there Rollers to!