Spain remains one of Europe’s most popular destinations for expatriates — offering a warm climate, a relaxed lifestyle, and a relatively low cost of living. Yet for all its appeal, navigating the Spanish financial and tax landscape can be complex. From residency rules and local taxation to investment and pension planning, obtaining professional advice is essential for long-term financial security.
Tax and Residency Planning
Once you spend more than 183 days in Spain per year, you are considered tax resident and liable for Spanish tax on your worldwide income and assets. Spain also applies a wealth tax and may tax certain overseas holdings. Double taxation treaties can help mitigate the risk of paying tax twice, but expert structuring is crucial. Strategic planning — for example, using compliant investment structures such as Spanish tax-efficient bonds — can help reduce liabilities while ensuring full compliance with Spanish and international regulations.
Retirement and Pensions
For many expats, retirement income is drawn from UK or international pensions. Transferring your pension to a Qualifying Recognised Overseas Pension Scheme (QROPS) or using a UK SIPP with international flexibility can offer better control, tax efficiency, and protection against currency fluctuations. Understanding how your pension income will be taxed in Spain — particularly under local progressive tax rates — is vital before making withdrawals.
Investments and Wealth Management
Spanish residents must declare global assets over €50,000 via the Modelo 720. This makes transparency and proper structuring of investments more important than ever. Tailored wealth management ensures your portfolio is diversified, tax-efficient, and aligned with your long-term goals. A locally compliant portfolio bond, for instance, can defer tax and simplify annual reporting.
Insurance and Protection
Health insurance is compulsory for non-EU residents and highly recommended for retirees or self-employed individuals. Additionally, having appropriate life and income protection ensures your loved ones remain financially secure, whatever the future holds.
Estate and Inheritance Planning
Spanish succession laws differ significantly from those in the UK and other countries. Without careful planning, assets may not automatically pass to your chosen beneficiaries, and inheritance tax can vary widely by region. Cross-border estate planning ensures your legacy is preserved and transferred efficiently.
Unlock your financial potential
At Blacktower FM, we specialize in helping UK and US nationals living overseas achieve their financial goals. Whether you’re an expat or a local resident, our team of experts is here to provide you with tailored wealth management, retirement planning, and investment solutions.
Your financial success is our priority
With over 35 years of experience, Blacktower FM has established itself as a leader in the industry. We are dedicated to gaining a comprehensive understanding of your unique financial needs and aspirations.
A holistic approach to financial planning
We believe that true financial success comes from a holistic approach. Our team of specialists offers comprehensive financial planning advice for both expats and locals living in Europe. From retirement planning to investment strategies, we have the expertise to guide you towards your goals.
Your trusted partner in wealth management
Blacktower FM was founded with the mission to provide independent wealth management advice on a global scale. We are committed to delivering personalized solutions that align with your individual circumstances and objectives.