Spain requires all residents with assets or financial interests abroad to declare their wealth through a form called the 720. The form is a requirement for residents who have assets or financial interests valued over €50,000 outside of Spain.
The 720 form must be filed when you become fiscal resident in Spain and each year that your assets change or increase value in more than 20.000€.
Is used to monitor the flow of wealth in and out of the country. The form is a crucial tool for the Spanish government to identify tax evaders and to monitor the country’s economy.
Completing the 720 form is relatively straightforward, and it can be done online or through a tax representative. The form requires information on all assets and financial interests held outside of Spain, including bank accounts, investments, real estate, and other assets
At Salvador Tax & Legal, we are committed to providing top-notch tax and legal services to our clients. Our team of experienced professionals is equipped with the knowledge and expertise to assist in preparing the 720 form, ensuring that all assets and financial interests are properly declared.
Don’t take any chances with your financial interests in Spain. Contact Salvador Tax & Legal today to learn how we can assist in preparing the 720 form and ensuring that your assets are properly declared.
