The Andalusian government has unveiled a game-changing taxation U-turn, scrapping wealth tax for residents and second homeowners in the region.
As Andalucía joins the ranks of the world’s most tax-friendly havens, Spanish nationals and foreigners with worldwide assets of €700,000 from Granada to Seville and across the Costa del Sol will no longer pay tax on their worldwide assets.
Victor France, Group CEO of Abbey Wealth, comments:
“Abbey Wealth is the largest, specialist financial planning firm in Andalucía. We have provided investment advice to English-speaking expats from our office in Andalucía since 2007, helping minimise tax liabilities – and maximise opportunities – both at home and abroad.
He continued: “We speak with lots of potential expats who have found the wealth tax a barrier. A more attractive tax regime will certainly add to the appeal of the region and is a shrewd move by local government to encourage more high net worth individuals, investors and businesses to establish their permanent residence in the region.
He added: “People considering a permanent move to Spain – or any other country – need to review their financial plans at the earliest opportunity. With offices in Ireland, the UK and Spain, Abbey Wealth’s cross-border specialists are well placed to support expats with a financial plan to support their journey, that includes:
- Help with residency permits
- Investment strategies
- Pensions planning
- Estate planning both in the UK and abroad
No matter what life stage you’re at, your personal wealth status or your own financial knowledge, at Abbey Wealth you’re the individual at the centre of everything we do.