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What are the options for living in Spain but not paying capital gains/wealth tax there?

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I'm going to go out on a limb⁠ here and say that his GF is Mexican, and she prefers Spain because she dominates⁤ the language.

I'm saying this with lots of admiration for OP, because he said this:⁣
smi(&% rof/%

The guy is bright AF!

OP, your best︀ bet is this:
and this:

Essential question: Do you have a "cuñado?" (Mexican brother-in-law for︉ the Spanish impaired).

PS. Based on this, I am asking this question because I know︊ plenty of Dutch and Mexican guys successfully living in Spain with their "story" in order.︋ Of course, you can't "slip",which is a euphemism for "skydiving without a parachute against the︌ Hacienda"!
 
If Spain, move to a region with generous wealth tax exemptions, avoid places like p.e‌ Catalonia.
Andalusia, Madrid, or the balearic Islands offer exemptions up to €3 million per person,‍ and these can be combined with family members, I heard.

Keep your crypto assets stored⁠ outside of Spain. Since 2024.
crypto income must be declared in Spain, even if you⁤ use the Beckham law, but if your crypto is held abroad, you should be fine.⁣ Just be careful because the Spanish tax office can be tricky and is playing dirty⁢ sometimes, no own experience but a lot of advocates told me, so make sure everything︀ is really secure.

You will get six years of tax relief with the Beckham Law︁ probably, which gives you plenty of time to settle down, especially if you have a︂ kid. After that, in some regions of spain can still be a nice place to︃ live with reasonable taxes if you keep all earnings in a company and live from︄ your wealth p.e. And if things should change, you can always leave without exit taxes︅ , < 10 years.

btw for madrid is a new tax law since 2024: the︆ Mbappé Law, no joke. It is similar to beckham law but goes with an Investment.︇
 
Hi Jafo,
no she's also European (French). And︁ I do not have a 'cuñado'...

So I think my best route is to become︂ resident and apply for this beckham scheme that will exempt me from capital gains/wealth tax︃ for 6 years as long as my assets are held outside of Spain.
What would︄ you guys recommend I do as I currently hold my bitcoin on personal title. Should︅ I set up a company outside of Spain which holds the assets?

Also, I use︆ Kraken pro to withdraw to a Dutch Revolut account whenever I need a bit of︇ cash, but even though Revolut told meI can deposit 7 figure sums with them I︈ don't trust them for this. Should I use a reputable Spanish bank or use a︉ bank outside of Spain?
sorry, a lot of questions, I know...
 
You have to⁠ become an employee in Spain. Beckham law targets high income foreign employees
 
If he's⁣ not employed in Spain it doesn't matter. He won't benefit from it
 
Yikes....

I don't have an answer then. All those cases I know of‌ have a "brother-in-law" overseas (somewhere in Latin America or Asia) who "lends" the sister some‍ money when she needs it.

Also, it would be best to confirm what
says here.

I am unfamiliar with the Beckham Law as I've never⁣ contemplated living in Spain. I have a friend in Spain with substantial real estate holdings⁢ that I rent from when I go there, but he does NOT register me anywhere.︀ He knows the drill. Also, he's dependent on me for quality building materials out of︁ Asia and Latin America, so it doesn't behoove him to make me a target of︂ the Hacienda!
 
This is only partially correct .
You are also eligble :
if you are Self-Employed in Training, Research, Development, and Innovation and at least 40%‍ of your income derives from it .
if you are a Highly Qualified Independent Professional⁠ Providing Services to Startups , but you must have advanced qualifications .
if you are⁤ Independent Professional (Autónomo) in Entrepreneurial Activity requires favorable Enisa report or prior residency authorization for⁣ entrepreneurs.
if you are going to be a Spanish director .
So the easiest way⁢ would be forming an LLC which engages in economic activity in Spain . You get︀ 15% Corp tax for the first 300k EUR in 2 years and you can still︁ take advantage from the Beckham law.
We don't have the information from OP , if︂ he's a freelancer or remotely employed etc.. So we can only make assumptions
 
He mentioned capital‍ gains tax and wealth tax so I assume he wants to sell his crypto from⁠ time to time thus lay back and chill with his kid while benefiting from the⁤ Beckham regime. In that case he won't be eligible

But like @Sols said we don't⁣ know the full picture about his situation.
 
All this hassle for a tax program [Beckham Law] that only lasts 6 years is‌ not worth it. I got posts on here older than that.

6 years flies by‍ and then he is exposed to Spanish tax hell which is more painful than being⁠ choke slammed on a bed of nails.

It is not worth it. Just pay whatever⁤ tax is owed or just avoid the place entirely.
 
Sorry mate, you can't do that. You can't have your cake and eat it too.‌ Your best shot would be the Beckham law, and still, I would avoid being a‍ tax resident in Spain.
 
There are now, I mean with the 2024 changes in beckham‍ law, several more flexible ways to apply.
For example you can qualify as the director⁠ of your own company, even if you hold 100% of the shares and just paying⁤ a small salary to save here social contributions too.

Or Employer of Record services are⁣ also a good option,
as it comes down to paperwork more or less if you⁢ really want to use it, you will find probably an easy way.

6 years completely︀ taxfree on crypto and capital gains outside of spain can be the biggest advantage for︁ OP.
As far as I know, there is no restriction on bringing capital gains, including︂ crypto profits, into Spain as long as they are held abroad and he has the︃ status of beckham law.

But you are right there is this hurdle, as Spain mainly︄ aims to attract highincome workers officialy like you said.
And after 6 years, you need︅ probably a new solution, maybe find a new direction or probably paying high taxes...

Depends a bit on the OP exact situation and income. If p.e his income is only︆ from crypto and under 200k a year, after the 6 years he likely pay around︇ 22%(+-) capital gains tax and can continue living in Spain, I would personal do, if︈ here is no other spanish income that will be progressive taxed.
Unfortunaty tax situation can︉ get worse pretty fast, especially with crypto.
Look at Italy , crypto tax from 26︊ to 42% overnight... :/
 
Not necessary, best way is using a foreign crypto exchange like‍ you do with Kraken.
If you hold cryptocurrency in your own hardware wallet, you should⁠ be more cautious. A bank locker outside of spain, with documented proof like photo of⁤ wallet, bill, and possibly the bank employee as a witness, should also avoid problems with⁣ hacienda.
Alternatively, you could consider changing all in a crypto ETF or similar financial crypto⁢ products through foreign banks.
I received this advice from a spanish tax lawyer, as I︀ was also planning to use the Beckham law years ago.
 
  • Andorran residency
  • Rented apartment in Andorra with proper setup for the residency renewal (there are‌ local agencies that help with that)
  • Cash rent contract in Spain
  • Living in Barcelona /‍ Girona (something close enough for less hustle)
  • No bank accounts in Spain
  • EMI card usage⁠ outside of Andorra, Andorran bank card usage inside Andorra
  • Doctors in Spain with Andorran insurance⁤ (you can imitate traveling for specific dates)
  • Doctors in Andorra to imitate living here

When your child grows up, school will be the most significant trace.
But if school starts⁣ in 5-6 years, you’ll be on your 5-year renewal, which should go smoother.

This is⁢ how I see the way to do it. Maybe this plan is overkill.
I know︀ many Spanish residents “live” in Andorra to save on taxes , it all depends on︁ the amount of risk you’re willing to take.
 
smi(&% rof/% F*cking brilliant!‌
Good one!
I never saw that coming! 😳
Got to admit - You are built for‍ the war against the dastardly, useless, unproductive parasites under the ruse of government.
Kudos!

PS. And many thanks for the great tip! 😉
 
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