3 Tax Strategies for Leaving Spain: Expert Lawyer's Advice

Tax Strategies for Expats Leaving Spain: A Lawyer's Advice Moving abroad from Spain can be exciting, but it's crucial to understand the tax implications. Pablo Ródenas, a Spanish lawyer specializing in tax law, offers three key strategies for non-residents to manage their taxes effectively. First, he advises that those maintaining income in Spain should consider remaining tax residents to avoid the potentially higher tax rates associated with non-resident status. Second, creating a Spanish holding company can allow for deductions, mitigating overall tax burdens. Finally, he suggests that those seeking to avoid Spanish taxation altogether should sell assets and transfer funds outside of the country. "The 24% tax rate for non-residents might seem appealing," Ródenas points out, "but without deductions, it can quickly become far less beneficial than anticipated." Ródenas's advice highlights the importance of proactive tax planning for those leaving Spain. By carefully weighing these options, non-residents can navigate the complexities of international taxation and ensure a smoother financial transition.