I know I need to declare bank accounts or assets worth more than 50,000 euros. But my only UK account has around 30,000GBP (I also don't have any other assets), and I want to transfer this to Spain.
Do I need to declare anything before or later? And will the Spanish government ask any questions about it? What should I expect?
In case it is relevant: I am resident in Madrid community for more than a year, am currently not working and also planning to register a freelance business in the coming months.
Moving 30,000GBP to Spain?
noz03
18 July 2021 15:36:49
5
Johncar
19 July 2021 09:48:29
1410
Noz
You have answered your own question
`I know I need to declare bank accounts or assets worth more than 50,000 euros.´
You have only 30,000
PS When reporting your assets abroad three categories of assets are considered separately:
bank accounts
bonds & insurances and
real estate.
tomcrudeoil
20 July 2021 14:57:11
1
You could deposit the funds in an offshore account or a private bank then take out business loans from the bank. This way any funds transferred to you looks like a business loan and not your personal funds.
Subscribe to this topic
Articles to help you in your expat project in Spain
Opening a bank account in Spain
Moving to Spain to start a new life involves a lot of planning, paperwork and patience. Your to-do list ...
Working in Tenerife
Are you looking for a job in Tenerife? While there are certainly opportunities, especially for fluent Spanish ...
Internet in Spain
Whether for work or play or keeping in touch with friends and relatives abroad, getting online will most likely be ...
Working in the Canary Islands
The Canary Islands is Spain's southernmost autonomous community, an archipelago in the Atlantic Ocean, more ...
Working in Valencia
Valencia is the capital of the autonomous community of Valencia, an attractive port city with beautiful beaches, a ...
Customs in Spain
Before traveling to Spain for your new life abroad, you will need to be aware of the country's ...
Open a bank account that suits you
Discover the best international banks to manage your money securely.
"