Modelo 720 and FATCA_who cares?

Fiduciary Wealth Team

Are you overconfident about your own abilities to dodge the Spanish taxman? Do you tell your friends that after living in Spain for over 5, 10 or possibly 20 years below the radar you have no intention of regularising your tax position? Do you boast to friends about holding undeclared offshore assets and tell them you have no intention of complying with Modelo 720? Have you purchased property in someone else’s name whether family, friends or even an offshore structure to be able to claim non residency? Are you going round saying you have found a method or way of avoiding disclosure and that FATCA doesn’t affect you? Are you claiming to be a Gibraltar resident whilst you live in Spain?

Have your current financial advisers convinced you that despite a new global standard in automatic exchange of information you can still dodge the Spanish taxman? No point in being a penniless hero! You might be very brave but don’t you think you are running the risk of losing a great deal of your accumulated wealth to Hacienda rather than passing it on to your loved ones?

Expatriates who took advantage of the tax amnesty and made a disclosure ended up losing a third of their wealth, yes 33%, in taxes, legal and accountancy fees. Can you imagine how much you WILL pay when they find out you have not paid tax for many years nor disclosed your assets under Model 720? There is no place to hide. Tax avoidance is a high risk strategy. Why play a losing game? We have a better way.

To speak to a financial planner about your tax situation and your financial planning needs including investments, pensions and wealth management call Tel: +34900102374 email We can arrange a private consultation with one of our certified financial planners to discuss your situation and find a financial solution which stands the test of time.