Selling a business in Spain and moving to Tenerife

[metalmonkey]

Hi just sold our business in Spain and will be moving to Tenerife where we have owned an apartment for 10 years. Looking to put capital gains money into a property in Tenerife but have been told that a we sold a business we must put the CG into another business. Would officially renting out an apartment count as another business? would appreciate any advice

<any thanks

[casabonny]

I don't see why not so long as the apartment is bought in the same name as the sold bus inessential ie s l company or sole or joint traders but your Gestors should know.
I understood that you had a period of time in which to re invest which I think was three years but might have changed.Pm forum member goldenmanic who should be able to help