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Wealth Tax in Spain

Your wealth is the result of your hard work; it shouldn't be penalized. Our Wealth Tax planning service is designed to legally mitigate or even eliminate this tax. We provide a strategic plan to protect your assets and ensure you comply with Spanish law with maximum efficiency.

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The best way to start solving your doubts is to schedule a call with one of our professionals.

All prices are final and include VAT. We have interpreters from French, Portuguese, Arabic (Moroccan variant), Russian and Ukrainian. Other languages may be available on request

€80

30’

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Immigration Consultation

Unsure of the requirements to immigrate to Spain? We provide a clear path forward and manage the entire process for you.

*The cost of the consultation is deducted from the final service fee.

€185

45’

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Tax Consultation

Perfect for individuals and companies in Spain who require expert guidance on complex tax matters.

*The cost of the consultation is deducted from the final service fee.

€250

60’

video call

Immigration and Tax Planning

A comprehensive session to make informed decisions before moving to Spain. We analyse your legal residence, the potential tax impact of your relocation and the obligations you should anticipate.

*The cost of the consultation is deducted from the final service fee.

About the service

What is the Wealth Tax in Spain?

Wealth Tax in Spain (Impuesto sobre el Patrimonio) is an annual tax levied not on your income, but on your net assets. Understanding and planning for it is crucial for high-net-worth individuals moving to or investing in Spain.

The key factor is your tax residency. If you are a Spanish tax resident, you are liable for this tax on your worldwide assets. If you are a non-resident, you are only taxed on your assets located in Spain.

The tax has generous exemptions. There is a general tax-free allowance of €700,000, plus an additional €300,000 exemption for your main home in Spain.

Crucially, Wealth Tax is managed by the autonomous regions, leading to huge differences. Some regions, like Madrid and Andalusia, offer a 100% tax relief, effectively eliminating the tax for residents there. Other regions apply their own rates and allowances.

To counter these regional reliefs, the central government created the temporary “Solidarity Tax on Large Fortunes”. This is a state-level wealth tax that only affects individuals with a net worth over €3 million, and any regional wealth tax paid can be deducted.

Proactive planning is everything. The strategies to legally structure your assets and mitigate this tax are most effective when implemented before you become a tax resident in Spain.

Our expertise is in providing this critical foresight. We analyze your complete asset portfolio, determine the optimal residency location based on your profile, and design asset-holding structures that are fully compliant and tax-efficient.

We provide a clear roadmap to navigate the complexities of the Spanish Wealth Tax, giving you control and peace of mind over your financial future.

Enjoy all the Benefits it has to offer

The benefits of Wealth Tax in Spain

Legally Minimize or Eliminate Tax

We use all legal reliefs and structures to reduce your tax bill.

Protect Your Worldwide Assets

Avoid inefficient taxation on your global investment portfolio.

Strategic Pre-Move Planning

Make the right decisions before you become a tax resident.

Ensure Full Compliance

Correctly file your annual declarations and avoid future penalties.

Are you eligible?

Requirements to apply for a Wealth Tax in Spain

These are requirements for Wealth Tax in Spain applicants:

Potential Tax Liability

You must have a net worth that is close to or exceeds the regional or state filing thresholds (generally €700,000).

Clear Tax Residency Status

You need to know your tax residency status (or planned status) as it determines if you are taxed on Spanish or worldwide assets.

Complete List of Assets

You must be able to provide a comprehensive list of all your assets and their values as of December 31st of the tax year.

Details of All Debts

You must provide information on all deductible debts, such as mortgages, to calculate your net worth.

Location of Assets

You need to clearly identify which of your assets are located in Spain and which are abroad.

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REQUIRED DOCUMENTATION

Necessary documentation for the Wealth Tax in Spain

This is the necessary documentation for the Wealth Tax in Spain

List of Real Estate Properties: Their acquisition value and location (in Spain and worldwide).
Bank Account Statements: Balances of all your bank accounts as of December 31st.
Investment Portfolio Summary: A list of stocks, funds, and other financial assets with their valuation.
Life Insurance Policies: Details of any policies where you are the beneficiary of the surrender value.

Luxury Goods Valuation: Valuations for vehicles, jewelry, or art with significant value.
List of Debts & Mortgages: Details of any outstanding loans that can be deducted from your assets.
Company Ownership Details: Information on any shares you hold in non-listed companies.
Previous Year's Tax Returns: Your tax declarations from your current country of residence.

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FAQ

Frequently asked questions about the Wealth Tax in Spain

Do I really have to pay Wealth Tax in Madrid or Andalusia?

No. Both regions have a 100% relief, which means that although you might be technically liable, your final payment is zero. However, you might still be obligated to file the declaration if your gross assets exceed €2 million.

What is the "Solidarity Tax on Large Fortunes"?

It is a temporary state-level tax that acts as a minimum wealth tax across Spain. It only applies to net wealth exceeding €3 million. What you pay for your regional Wealth Tax (if anything) is deducted from this, so you don’t pay twice.

Are my pension plans subject to Wealth Tax?

Generally, no. Pension plans and similar social security instruments are typically exempt from Wealth Tax until you start receiving payments from them, making them an efficient asset-holding vehicle.

When should I start planning for Wealth Tax?

Before you become a tax resident in Spain. The most effective asset protection and structuring strategies must be implemented while you are still a non-resident. Once you become a tax resident, your options are much more limited.

Do non-residents have to pay Wealth Tax?

Yes, but only on their net assets located in Spain. The €700,000 tax-free allowance also applies to non-residents. If you own a property worth more than this, you will likely have a filing obligation.

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