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How to avoid Tax Residency/Wealth Tax in Spain?


in Spain by @palimpalim | 4yr  | 4 comments

Iโ€™m planning to move to Spain this year, but Spain has a wealth tax for worldwide assets over 700.000โ‚ฌ if you are classified as a resident which I want to avoid.

Iโ€™ll try to be a short as possible:

  • I am a german citizen and Iโ€™m renting a flat in London, UK but havenโ€™t stayed there a single day in 2016. (110 days in different countries in Asia, 10 days in Spain, 30 days in germany)
  • I own a flat in germany that I rent out to tenants (limited tax liability for the rental income in germany), but besides that I donโ€™t have any income except for a few dividends from my stocks
  • I am planning to fly to Thailand for 2 months beginning of December 2016

Although I am renting the UK flat until December 2016 I prefer not to be in UK, which would mean that I would not be classified as a UK-resident because I would not meet any of the automatic UK or sufficient tie tests.

Iโ€™d like to move to Spain as soon as possible but would be willing to stay out of it for x weeks to avoid being classified as a resident and save wealth tax.

Can anyone help me in this matter? whats my best line?

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@gogan | 4yr

I am Spanish @s.ruthenboss.

You already know the short answer: you have to stay less than 183 days/ year within the country to avoid being classified as resident

The long:
http://www.agenciatributaria.es/AEAT.internet/Inicio/La_Agencia_Tributaria/Campanas/No_residentes/Impuesto_sobre_la_Renta_de_No_Residentes/Cuestiones_sobre_residencia/Persona_fisica_residente_en_Espana.shtml

The super-long: I can refer you a chartered accountant and reputed fiscal advisor with fair prices (my personal one)

P.S. imho seems you are over concerned, if you donโ€™t have ties with the country (kids, assets, properties) they hardly could argue you are a resident, I seriously doubt it

Hope it helps

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@palimpalim | 4yr

Hi orca,

I appreciate your advice and I saw the 183 day rule as well, but I am worried that Spain could declare that I have โ€œvital interestโ€ in Spain and therefore count as a tax resident. (might be hard to disproof since I wouldnโ€™t have a residency anywhere else)
Since the penalties are very severe I donโ€™t want to take a risk and do it โ€˜the legal wayโ€™, or at least the most legal way possible.

I quote the penalties:
For failing to file Modelo 720 or filing it incorrectly: โ‚ฌ5,000 per infraction (minimum fine of โ‚ฌ10,000 for each group of assets). For voluntary, late submission: โ‚ฌ100 per item (minimum โ‚ฌ1,500 for each group of assets). In addition, the undeclared assets are treated as unrealised capital gains and consequently included in the general base of the income tax return for the earliest year Modelo 720 was established. An additional penalty of 150% of the unpaid income tax is also levied.

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@flyonthewall | 4yr

Drop a couple of hundred Euros and speak to a Spanish tax professional. This is not the right place to ask for such detailed advice. Each situation is unique so although someone might share an experience and you can get some ideas, the best idea would be to speak to a tax pro who can tell you about how to structure this since youโ€™re talking about a considerable amount of money.

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@orca | 4yr

Basically the 183 days rule applies so if you are there for under 6 months in a year you are fine. My experience based on what clients tell me from experience is that unless you are running a business in Spain (e.g van with logo, newspaper add or website with a Spanish phone number) you are not likely to attract Haciendaโ€™s (Finanzamt) attention much the same as in the UK or Germany because there are loads of people working in the black economy locally who are easier targets.

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Read and participate in 13,983 discussions on Nomad List

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What's the best SIM card you can get for traveling to Spain?


in Spain by @gabygarreau | 2mo 2 months ago | 3 comments

Hi! I want to relocate to Spain and I was wondering if someone can recommend a SIM card with a good data package.

Thanks

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Issues with not being a tax resident anywhere?


by @lightworker | 6mo 5 months ago | 2 comments

Anyone with knowledge regarding complications of not being a tax resident anywhere in the world? Iโ€™m aware that primary health care, bank account opening and incorperation can be problematic but are there other practical or legal factors I should be aware of?

And what about paying myself salary from a self-owned OECD company? I would like to know if I risk potentieal issues with the tax authorities in the jurisdiction of the company, especially regarding withholding tax.

Appreciate your input!

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How do digital nomads pay tax?


by @rodriigovieira | 7mo 6 months ago | 19 comments

Hello everyone! Iโ€™m new here and probably this is a very newbie question, but it doesnโ€™t leave my head.

How do you, nomads, pay your taxes? I mean, if youโ€™re constantly traveling, how are you going to pay taxes for a certain country if you are going to stay there a short period of time?
Or do you return to your โ€œoriginal countryโ€ and then pay them?

By the way, this forum has very nice cool formatting features! :smile:

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How do you avoid settling in one place?


by @sukienniko | 7mo 7 months ago | 10 comments

As a follow up to my previous question (I guess I donโ€™t have the right to post links here?), but on a larger scale: if living as a nomad in a place for, say, more than a month (which will be beneficial for the sake of getting work done), how to you prevent yourself from getting too involved in the local society?

I find that every time I stay somewhere for a significant amount of time, I naturally start to settle into the idea that Iโ€™ll be there permanently, or at least long term. I guess this is human nature: wanting to have a stable lifestyle, with stable friends, relationship, workplace, recreational activities, etc. But, indeed, that is not my goal-- I believe the benefits of the nomadic lifestyle are far greater at this stage in my lifeโ€ฆ

So, for those of you who have successfully avoided settling somewhere time despite staying for months at a time, what strategies do you use to stay afloat, as in, not getting too deeply integrated locally?

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Where to move for tax purposes as a non-US citizen?


by @mender | 11mo 10 months ago | 5 comments

I am a New Zealander looking to travel for a couple of years in different countries. For this purpose I would ideally like to shift my company to a lower tax territory where I will live part time, as I am currently taxed at roughly 33% in New Zealand, however itโ€™s closer to 40% when I add in all the hidden taxes.

With a move I wonโ€™t be living in NZ so Iโ€™ll no longer be obliged to pay any tax after 320 days.

I ideally would wish to be a tax resident of the country I incorporate in. What country is easiest to do this through? A large chunk of my business relies on PayPal which requires your bank account to be from the same country your company is registered. Thus I canโ€™t do anything such as BVI or small islands.

Tbh my best bet looks to be Dubai Free Zones at this point and I can do some travel in europe from there.

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How to be sure of new tax residence?


by @analogmario | 1yr 1 year ago | 0 comments

Hi, Iโ€™m new here.
I am moving out forever.
So I am going to move to another country my residence.
But, in the new country I donโ€™t plan to spend more than 90 days a year for sure, at least itโ€™s not the plan for the first years.

But I want to be sure that my tax residence is in my new country, even if I spend less than 90 days a year.
I want to be sure I wonโ€™t be reclaimed by my original country or any other country that I might end up spending less than 180 days, but more than the less than 90 I expect to spend in my new country(looks like itโ€™s going to be Portugal).

Hope that was understandable.

Does anyone know where I can get information about this kind related to nomadism?

Thanks

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How does Lima's new municipal taxi app compare to Uber?


in Lima, Peru by @robertomasymas | 2yr 1 year ago | 0 comments

How does limaโ€™s new municipal taxi app TaxiMML compare to uber?

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Remote worker in Amsterdam: taxes and legal status?


in Amsterdam, Netherlands by @think | 2yr 1 year ago | 1 comment

Hi all,

I am moving to Amsterdam in January and looking for advice regarding legal status.

I work for a small French company. They agreed to let me move to Amsterdam as a remote worker starting January. :v:

However, they have no business entity and no employee in the Netherlands, so we have no idea how to set up the whole thing legally speaking. Should I remain an employee of the French entity, should I charge them as a consultant/contractor?

Of course, I am looking for a solution that is both simple and with minimum taxes :stuck_out_tongue_closed_eyes:

Thank you for your help!!
Steph

PS: If you can recommend a good accountant that is competent on the topic, I an happy to pay for the service too!

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How to find an appartment in Valencia, Spain?


in Valencia, Spain by @them | 2yr 1 year ago | 8 comments

Hey all,

planning on going to Valencia for a while and am looking for an appartment from April to summer. Any Ideas where to look for? Appart from airbnbโ€ฆ

Also any tipps for area to live in and work spaces are most welcome.

thanks and best regards,
The M.

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Tax Planning advice (Primarily contracting for US company)


by @kartman92 | 2yr 2 years ago | 7 comments

Hello nomads,

Due to a recent US work visa rejection (H1B), Iโ€™m considering turning to freelancing and being a digital nomad. My former employer (US based start-up) wants me to continue rendering my services as a contractor/freelancer (so I have a confirmed major client and Iโ€™ll probably take on other minor clients on the side). From the get go I want to get my taxes right and I was hoping you seasoned nomads can assist me. Some of the key aspects of my case are:

  1. I hold an Indian passport and as long as I donโ€™t stay in India for 182 days Iโ€™m considered non-resident (No taxes on foreign income as long as services are not rendered in India, otherwise 30% tax).

  2. I may have to visit the US occasionally, so having a tax-residency in a country with a US tax-treaty may be beneficial (I maybe incorrect here).

  3. Iโ€™m willing not to be a perpetual traveller and put down roots in a low tax country that offers easy tax residency with low-taxes.

  4. Will incorporating in a tax-friendly help my case? Or will just perpetual travel be enough to completely avoid taxes?

P.s. If any of you offer sound tax advice for a fee and are aware of international taxation laws (especially US tax laws), do let me know.

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Where to pay taxes if self employed non-resident of the UK, travelling Europe?


by @jadi4nd | 3yr 2 years ago | 5 comments

Hi, I know there are a few posts around this topic but none of them quite answer my questions.

I am British and currently a resident in the UK.
Next year I am going to become a non-resident and spend over a year traveling mostly around Europe, moving every few weeks never staying anywhere longer than a month. (My first venture into becoming a digital nomad!)

I am remote, self employed, software developer working mostly for one client based in the UK.

Where am I liable to pay taxes?
From what I have read I will not be liable to pay taxes in UK, can anyone confirm this?
If not the UK then where if I am moving every few weeks?
If possible I want to avoid starting a company as this seems unnecessarily complicated for my work setup.

Thank you in advance for any help :slight_smile:

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Tips for nomads in Granada, Spain?


in Granada, Spain by @katieuniacke | 3yr 2 years ago | 0 comments

Hi everyone. Iโ€™ve just moved to Granada in Andalucia to live with some friends I met in Mexico. Planning on staying a few months and then seeing where the wind takes me, but in the meantime, I wanted to know if there are any fellow nomads around, or if anyone has any tips for coworking spaces/cafes? Thanks in advance! :smiley:

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How to avoid getting your stuff stolen?


by @matthieudrula | 3yr 2 years ago | 8 comments

Hey guys,
My question might be blunt ahah but โ€ฆ how do you get your stuff stolen?
Do you stay in hostels, or shady hotels? Or do you get robbed?
I stopped using hostel with outsiders and I pretty much only use budget hotel now.
I have heard about an app that take screenshots of your room and send it to you if it detects movement too so you can alert the hotel staff.
I donโ€™t want to make everybody paranoiac too ;).

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Any opinions on where to live in Spain?


in Spain by @jjuter | 3yr 2 years ago | 9 comments

I am thinking about living in Spain a few months but do not know much about it. Any advice would be appreciated.

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How do taxes work for perpetual travelers?


by @whirledover | 3yr 2 years ago | 5 comments

Hereโ€™s a question (actually a bunch of related questions) thatโ€™s been a bit of a thorn in my side lately. Iโ€™ve already combed this forum as well as several others but would love some more insight from more knowledgable people.

So, here goesโ€ฆ

Background: Iโ€™m a perpetual traveler and havenโ€™t stayed in a single country longer than 6 months for around 5 years now. Iโ€™m a non-US person so no IRS worries but my country of citizenship (Korea) has a residential tax system and since I havenโ€™t claimed residency anywhere else, it seems possible for my government to claim me as a tax citizen.

Which brings me to my first question: At what point does forming a solid business structure to cover your taxable a** become worth the hassle? $100K/year? At $200K/year? I sort of feel like most governments wouldnโ€™t bother with this because itโ€™s relatively โ€œsmall fishโ€ - thoughts?

And that brings me to another question: If Iโ€™m not needlessly spending time worrying and I should finally pull the trigger and set something up that makes me more โ€œlegitโ€ - even if it requires paperwork - whatโ€™s my best option? Hereโ€™s what Iโ€™ve come up with:

Set up an offshore company - Iโ€™m leaning toward RAK Offshore since it seems to have no paperwork requirements and has no taxes - and use that to hold and re-invest the income I receive while paying myself a nominal amount every month, like $3,000, which I then file Korean (income) taxes for. This makes sense in my head since thatโ€™s roughly the amount I spend every month anyway but would this qualify as tax evasion?

Last question: for all of you who are perpetual travelers and arenโ€™t filing tax returns with your country of citizenship/last tax residency - what are you doing in terms of investing the money youโ€™ve saved? From what Iโ€™ve read, banks will report accounts that hold over a certain amount to the country of the account holder and online brokerage accounts seem to be the same.
Oh, and is the money accrued (without being reported tax-wise) considered black money?!

Okay, Iโ€™m done for now. Apologies for writing a book - Iโ€™m not so learned on this topic. Would appreciate any insights. Thanks in advance! :slight_smile:

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Bring external monitor to SE asia and avoid coworking cost?


by @anderkd | 3yr 3 years ago | 13 comments

Would it be advisable or wacky to lug an external monitor from the US in hopes of avoiding coworking costs by working from Airbnb with decent wifi? Iโ€™m not sold on coworking spaces, and like the solitude of coding away in my own little airbnb space. One screen is limiting to productivity, hence the love of an external monitor. Thoughts?

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How do you avoid getting charged large fees by your bank when withdrawing overseas?


by @creative_nomad_ | 3yr 3 years ago | 14 comments

Hi All,

My question is about banking when it comes to being overseas/working etc. How do you avoid getting charged large fees by your bank when withdrawing overseas?

Iโ€™m originally from Australia and do my banking still in Australia. I live in the UK and most recently was living in Vietnam where I found I had to withdrawl money just to get charged very large amounts from my Aussie bank.

How do you get around this? What can you recommend.

Thanks

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Are coffee shop expenses tax deductible?


by @octavient | 3yr 3 years ago | 7 comments

I often spend upwards of $150 per month in coffee shops, where I do much of my (remote) work (25+ hours per week). Since I donโ€™t pay office rent, I perceive these expenses as replacing my fixed rent costs, and I tend to spend more money at coffee shops when Iโ€™m camping out for a 2- to 4-hour work session, so these expenses strike me as legitimate business expenses. Has anybody gone down this road with the IRS? Is anybody aware of any official guidance or precedence for this?

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Advices about tax, location for incorporation, etc


by @anadesigner | 3yr 3 years ago | 2 comments

Hi nomads,

I and my husband are graphic designers and we work from home mainly doing services for UK. We have personal bank account in UK as we lived there for a while and we use it to receive payments and then use transferwise, but we are worried because we have no company there to declare these payments.

We are at the moment in Malta but moving to Portugal soon and we really would like to make the things right to avoid problems but also we need avoid pay lots of taxโ€ฆ I am researching a lot but not sure what to do. Would be very good to have a bit of advice to what way to go, where is the best country to open an offshore business for exemple?
We earn together about 25k euro year (brut).
Any advice or tip would be very welcome.

Thanks!

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Suggestions for somewhere to spend Jully in northern Spain?


in Spain by @jb510 | 3yr 3 years ago | 6 comments

Iโ€™m looking for somewhere to spend July in northern Spain. (Not that it matters but June weโ€™re in Paris, August in Porto).

Iโ€™ve spent time in small Italian villages and loved the experience. Iโ€™m hoping to find something like that but in coastal Spain, I just donโ€™t know the area at all yet. Suggestions?

Somewhere roughly in or between Galicia and Bilbao. Somewhere walkable to a half dozen small resturants/cafes/etcโ€ฆ

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