Foreign Assets Declaration (M720) in Spain

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Very helpful and friendly service. Would recommend them to anyone needing assistance.

SaraM
12 Jul 2024

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Service Details

Foreign Assets Declaration (M720)

This service is available across Spain

Who Is This Service For?

The Spanish government have made it an obligation - via Order HAP/72/2013 - for all residents in Spain to declare any assets they hold outside Spain, in particular, but not restricted to, properties and bank accounts held in the UK or elsewhere in the world.
You are obliged to declare - via the form 720 Spain if - within any particular category, you own assets with a combined value of over €50,000: This applies to owners, beneficiaries of trusts, and those held by a company you control.

Requirements

Total value of foreign assets exceeding €50,000.
Declaration includes categories such as bank accounts, real estate, and investments like stocks or bonds.
Accurate and timely submission within the legal deadlines to avoid penalties.

Process: Our Approach

In-depth Review: We begin by identifying all foreign assets that meet the reporting threshold.
Documentation Gathering: Collect all necessary documentation related to your foreign assets.
Filing of Modelo 720: Complete and submit the declaration electronically via the Spanish Tax Agency's website.

Benefits of this Service

Avoid Penalties: Ensuring timely and accurate filing to avoid heavy fines.
Professional Guidance: Expert advice on handling complex asset declaration obligations to ensure compliance.
Peace of Mind: Confidence that your foreign assets are fully compliant with Spanish tax regulations.

Free Support Services Included

When combined with the free and innovative Advocate Abroad support services you can be sure that you are obtaining completely transparent legal services from registered and regulated English-speaking lawyers abroad.These support services include: