Fancy watching the Ryder Cup golf tournament from the comfort of your luxury home in sunny Spain? That is what people who buy property at the PGA Catalunya Resort will be able to do if the Irish property developer Denis O’Brien gets his way.
The stadium course, one of two at the golf club, which was established in 1999, is often ranked as the best in Spain by those in the know.
Indeed, the resort’s developers are enjoying a booming trade in new apartments and villas there even though the country’s property market is in its sixth year of doldrums.
The houses, spread over 300 hectares, are surrounded by manicured lawns and woodlands.
Investors from Russia, Germany, France, Switzerland and Kazakhstan had been snapping them up, Mr O’Brien, the billionaire owner of the mobile telecoms company Digicel, recently told Bloomberg News.
This year, he expects to sell as many as 45 homes, up from 28 last year. The most expensive costs €2.2 million (Dh11m).
The one, two and three-bedroom La Selva apartments have views across the 18th fairway. Prices start at €365,000.
Prices for the two-storey, semi-detached La Selva villas with four bedrooms and three bathrooms start at €695,000.
The Barcelona-based architects Damian and Francisco Ribas designed the La Selva villas and apartments.
Property plots are also available for self-build homes, with prices starting at €380,000.
The luxury villas, designed by various architects, are priced from €950,000 onwards.
There are plans for a total of 386 units, but this number is expected to increase with time.
Amenities at the resort include a clubhouse that has a Pro Golf shop carrying designer products, tennis courts and a pool.
Property buyers must pay a value-added tax of 10 per cent and stamp duty of 1.5 per cent. Notary charges amount to 0.5 per cent on average.
Owners may place their properties for lease.
Meanwhile, the Spanish government is considering a new law that will allow non-European Union nationals who invest €500,000 in the country’s real estate or businesses to qualify for residency.
ssahoo@thenational.ae
ENGLAND TEAM
Alastair Cook, Mark Stoneman, James Vince, Joe Root (captain), Dawid Malan, Jonny Bairstow, Moeen Ali, Chris Woakes, Craig Overton, Stuart Broad, James Anderson
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Killing of Qassem Suleimani
More coverage from the Future Forum
