Private Wealth

Spanish tax advice for international HNWIs

A defensible Spanish position begins with a clear view of the family, its assets, its businesses and every jurisdiction involved.

We advise internationally connected individuals and families who live in, invest in or are considering a move to Spain. Spanish residence can affect income, investment portfolios, business interests, real estate, wealth taxation and succession at the same time. The right analysis therefore goes beyond an annual return or a single asset: it considers how the entire position works and how it may change over time.

Our starting point is a structured review of ownership, income, liabilities and decision-making. We identify who holds each asset, where it is located, how it is financed and what purpose it serves. We then consider the Spanish domestic rules, relevant tax treaties and the position taken in other jurisdictions. This creates a reliable basis for decisions rather than a collection of isolated answers.

Substance and evidence matter. A company, trust, foundation or investment vehicle may not be treated in Spain as it is treated in its home jurisdiction. The location of management, reserved powers, access to assets and the legal and economic nature of a distribution can be decisive. We review those facts, explain uncertainties and document the commercial or family rationale for any change.

Lullius acts as Spanish coordinating counsel, working with the family’s existing lawyers, trustees, accountants, investment managers and family office. Where additional advice is needed, we engage independent specialists in the relevant jurisdiction. Our role is to make the Spanish position technically rigorous, understandable to the family and practical to administer without adding complexity for its own sake.

Focused support

How we can help

Spanish private wealth review

We map assets, liabilities, income, structures and relevant family circumstances to identify the Spanish treatment and the decisions that require attention before an investment, relocation or reorganisation.

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The whole position

Key considerations

Residence changes the frame of reference. A person who becomes Spanish tax resident is, as a general rule, taxed on worldwide income and may assume reporting obligations relating to assets outside Spain. Timing, personal and economic connections and any applicable treaty must be considered together rather than through a day count alone. Non-residents may still be taxed on Spanish-source income and on certain assets or rights connected with Spain. The distinction between personal and real liability, the legal location of an asset and potentially applicable regional rules require a fact-specific review.
Structures need a real purpose. We do not recommend reorganisations by default. We first establish whether an existing arrangement serves a business, investment, succession or governance purpose that should be preserved. We then test whether its operation, control and records are consistent with that purpose and with the proposed Spanish treatment. Where change is appropriate, we sequence it across jurisdictions. A Spanish solution that creates an avoidable charge, loss of protection or contradiction elsewhere is not a complete solution.
Continuity rather than isolated interventions. Wealth changes as residence, family circumstances, investments and business leadership evolve. We revisit the position when a material event occurs and keep compliance aligned with the underlying strategy. If the position is challenged, our tax litigation team can take responsibility without reconstructing the matter from the beginning. The same understanding of facts, documents and purpose follows the client from planning into an audit or appeal.
Decisions with a cross-border effect. A Spanish investment, distribution, family gift or change in company governance can have consequences in more than one country. Before implementation, we identify which advisers need to confirm the position and what documents should record the decision. This coordination is particularly valuable where family members are resident in different jurisdictions or where an asset will pass between generations. The Spanish answer becomes part of a single execution plan rather than an instruction that others must later reconcile. We record assumptions and review points so that later changes in residence, ownership or family circumstances can be assessed efficiently without losing the reasoning behind the original decision.