Wealth tax in Spain explained!

Spanish wealth tax explainer - mitigation, allowances and exemptions. In this video we introduce the wealth tax regime in Spain. It is a temporary tax that is renewed by the government each year. Each autonomous region is allowed to set its own rates or follow the national rate. That is why you can have different liabilities in different parts of the country. In Madrid for example there is a zero rate band whereas in Cataluña the top band is over 3% and allowance is €500,000 instead of the usual €700,000.

LATEST UPDATE - Andalucía has now abolished wealth tax as of September 2022! Great news for locals and ex-pats alike.

Wealth Tax exemption via pensions

It is possible that personal pension plans elsewhere within the EU, can benefit from an exemption to Spanish Wealth Tax.

This may benefit all ex patriots who reside in Spain and who have consolidated rights in QROPS or QNUPS pension plans in Malta for instance.

From the financial advisors at finance-spain.com - 20 years of experience in financial services and living in Spain for the past 11, Patrick Macdonald is a qualified, regulated international financial adviser with global clients. You can call him at his office direct on + 34 951 390 201 OR
👍WhatsApp +34 633 750 044

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