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Source of funds for a fiscal resident of Spain

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sriracha

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Aug 25, 2022
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I intend to move to Spain and buy an apartment. I am thinking to sell‌ stock for the amount of money necessary to buy the apartment.

I am wondering what‍ is the right way to do that. because of

- capital gains tax - maybe⁠ I should sell my stock while I am in a country where I would pay⁤ less capital gains tax and then move to Spain? I am currently a fiscal resident⁣ of Estonia, where I have an Estonian LLC, but I could stay in an "intermediate"⁢ country in that case

- source of funds - will I have to prove the︀ source of funds, or the very fact that I sold stock would be considered a︁ source of funds?

I bought the stocks twenty years ago with money I received from︂ a client, but unfortunately the paper trail that proves it is all lost and I︃ have no way to recover it.
 
Yes, if you can spend a year as a resident in UAE and move to⁣ the 3rd country (Spain) then you could cash out by paying the local CG tax⁢ rate of 0.

It may depend on the bank, but generally︂ showing your portfolio and the transaction should be enough. Although, depending on your passport the︃ KYC may be more or less stringent in Spain.
 
Thanks, very information-rich.

Yes indeed a valid reason︁ - I have lived in Nordic countries, in the USA and in the Caribbean.

Nordic countries -> the government takes your salary/earnings and gives you back cigarette money. Sky-high suicide︂ rates, most people on Prozac, s**t food, s**t weather, every woman a hard core feminist,︃ Jante’s law, school will make your sons transgender

USA -> “Country of capitalism and economic︄ freedom”. Cannot hold foreign currency in the bank. Anywhere you go, there is only one︅ supermarket brand in a 100km radius. Could not own gold from the 30s to the︆ 70s. Fake prices on shelves, must add tax, fake prices in restaurants , must add︇ tip. Nobody goes out at night, and if you do, your salary burns in a︈ week. Extra fake inflation numbers for decades. People hold 2 and 3 jobs to make︉ ends meet. Watch a Hollywood movie, move to the States and you realize it’s all︊ BS, it’s a grey and drab life.

Caribbean -> “Low cost of life, low taxes”.︋ This one is true, but - no infrastructure. Break a leg while kitesurfing, die bleeding︌ waiting for ambulance. Drink a glass of tap water, sh*t your intestine out from parasites.︍ Your life is worth 50euros, must have gun in car. Drive on highway, get annihilated︎ by drunk driver driving against traffic. Start a business, get shot by competitors, your business️ confiscated by a corrupt judge.

So maybe Spain, Portugal and a few other countries are‌ a happy medium…
 
Fair enough
It depends on︅ the location and on your budget
Low cost of life depends where. Caribbean countries are not all︇ the same (let’s include the non-Caribbean T&C, BS and BM)
In Haiti, true. In some other places︉ you would be surprised of how efficient they are (and the Chinese are coming)
Same in Europe.
Buy a water filter.
Come on, that’s Haiti, not “The Caribbean”︌
Usually it’s a US tourist driving on the right. If we want to call︎ the various “King’s highways” proper highways.
Like everywhere.
Portugal is better, but Europe is doomed.
 
Well yes, Europe‌ is doomed, but there will be degrees of doom I think.

France and UK will‍ be devastated, they are in the crosshairs of the WEF, and are populated by a⁠ critical mass of brown people, they’ll become a mix of 1984 and Brave New World.⁤

Germany may go either way, but best case scenario is they stay the way they⁣ are, which is an authoritarian and malevolent version of a Nordic country.

Italy and Greece⁢ will be basically impaled and left for fiscally dead, they will go through decades of︀ poverty.

Spain…has chances. Remember how they managed to stay out of ww2, terrorism in the︁ 70s…
 
I didn't know about Jante's law, that's socialist‌ brainwashing at its best.
 
You may want to reconsider moving to a country such as Spain with a Socialist/Communist‌ government, all I see is countless people moving out of Spain, foreigners and nationals, including‍ myself. What’s the point of getting killed with taxes till the day you die while⁠ inflation is through the roof (1kg of avocados 4.50€ at the moment) and a debt⁤ of 120% of GDP, Spain is broke, literally!
Go to Portugal under the NHR and⁣ just sneak into Spain as often as you want, do NOT settle in Spain unless⁢ you’re a masochist.
Best of luck
 
Spain would be a very bad choice. The government despise anyone with‍ money. Once your rich there your assets slowly become state property even if you don't⁠ work another day.

P.S If your lazy a low earner and not entrepreneurial then Spain⁤ makes perfect sense.
 
Just so happened the other day, bought 3 large avocadoes (+/-1kg) for MXN30⁤ (+/-USD1.5).
 
You've got everything you can think of,‌ beach, Cenotes, an ice skating rink inside a shopping mall, a 3.5km circuit (I'm into‍ racing) and it's been ranked the second safest city to live in the Americas, right⁠ after Quebec (Canada), hope to see you there!
 
This if you have any sort of business or⁤ even if you are a self employed making 2-3k a month Spain is not good⁣ option. If you are an employee making that money I think you are ok but⁢ never dare to progress in life because they will go after you! Anyways in the︀ big cities the rent is stupid high for the local salaries.
Spain in doomed too, the government and the economy sucks.︉ I get it if you say you want to move because of the food, weather︊ and beach but don't think Spain situation is better than the rest of Europe because︋ it's not.
 
I understand your point of view, but..I spent︁ some time in the Baltic countries, where taxes are not so high, and these people︂ are SUICIDAL!
Eastern countries, also gloom and doom. So what's left? Africa? I didn't think︃ so. It basically boils down to Dubai and Malta. Malta - beach life, basically a︄ big resort. Dubai - living in a high rise, nobody knows anybody, everything is fake...What︅ do I do with the money saved from taxes? Is that a life? I am︆ afraid Spain will be the lesser evil and no, I'm not lazy, low earner and︇ not entrepreneurial.

Sounds good! What kind of company works with this ZEC program?︉
 
Idk I think Portugal,︁ Andorra or maybe Italy are better options. If you want to move to Spain anyways︂ and none will stop you then contact with a tax advisor from there first to︃ help with the best setup for you, there is parts of Spain more convenient for︄ tax no idea about it but friends told me that.
 
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