Wealth tax on Spanish assets if you live abroad

Key rules

• Scope: As a non-resident you are taxed only on assets located in Spain or rights exercisable in Spain.
• EU/EEA residents: You can use the rules of the region where your Spanish assets are mainly located.
• Non-EU/EEA residents: Only national rules apply, with no regional allowances.
• Allowance: The national allowance is 700,000 EUR.
• Main home: The main-home exemption is not available to you.

Spain taxes only your Spanish assets

If you do not live in Spain, Spanish wealth tax covers only what is located in Spain, or rights that can be used or must be fulfilled in Spain. Your assets in other countries are outside it.

Assets that count include:

• Spanish real estate.
• Assets registered in Spain.
• Shares and other securities issued by Spanish companies.
• Rights that you exercise in Spain or that must be fulfilled in Spain.

Which region's rules apply

The answer depends on where you live.

• You live in the EU or EEA. You can apply the rules of the region where the greatest value of your Spanish assets lies. You can also use the region where the assets are located and can be exercised.
• You live outside the EU and EEA. Only the national (state) rules apply. Regional allowances and rebates are not available to you.

If you do nothing, the national rules apply. EU/EEA residents who want the regional rules should check the region's current figures before filing.

Which allowance you get

You have a 700,000 EUR national allowance, plus the standard exemptions. If you live in the EU or EEA, the allowance and rebates of the relevant region apply instead. Regional allowances vary a lot, so look up the region's figure.

The main-home exemption does not apply to you. It needs habitual residence in Spain, so a Spanish home you own while living abroad is taxed like other Spanish property.

When tax actually arises

In practice, tax arises only when your net Spanish wealth is above 3 million EUR. This comes from the solidarity tax, which is a separate, additional tax on large fortunes. The FAQ below covers how it applies to non-residents.

What to check on your own

Whether a tax treaty helps you, and how your debts are set against your Spanish assets, depends on your situation. Ask a Spanish tax adviser or the Spanish tax authority before you file.

Frequently asked questions

Can I use a regional allowance if I live outside the EU or EEA?

No, if you live outside the EU or EEA, only the state rules apply to your Spanish assets. That means the state allowance and the state tax scale, with no regional allowances or rebates. EU or EEA residents can instead apply the rules of the region where most of their Spanish assets lie.

Does the main-home exemption apply to my Spanish property if I live abroad?

No, the habitual-home exemption does not apply to non-residents, because it requires Spanish habitual residence. Your Spanish property counts in your taxable Spanish wealth, with the standard allowance applied against the total.

Do I pay the solidarity tax as a non-resident?

Yes, non-residents are liable for the solidarity tax on assets located in Spain or rights exercisable in Spain. The 700,000 EUR allowance applies, so in practice nothing is payable unless your net Spanish wealth exceeds 3 million EUR.

Will a tax treaty or my debts reduce the tax on my Spanish assets?

Possibly, but both need an individual review. How debts are allocated to Spanish assets and how a treaty with your country of residence applies can change the result, so ask a Spanish tax adviser before you file.