Establishing tax residency in Spain subjects your global financial portfolio to the regulatory oversight of the Agencia Tributaria (Hacienda). In addition to standard income tax obligations, Spain enforces a mandatory statutory requirement to declare specific assets held outside of Spanish jurisdiction. The Modelo 720 is a complex regulatory filing that requires international residents to report foreign bank accounts, international equity portfolios, and overseas real estate. Whether you are a retiree in Alicante managing UK pensions, a remote professional in Valencia with US brokerage accounts, or an investor in Madrid, Tytle manages your statutory reporting requirements. We provide a digital-first filing service for your international assets. Our objective is to ensure your global portfolio complies strictly with Spanish law, mitigating the risk of regulatory audits and statutory fines.
The Modelo 720 is strictly an informational statutory declaration. It is not a tax assessment; no capital is remitted upon the submission of this specific document. Its regulatory purpose is to inform the Spanish government of assets legally held in foreign jurisdictions to prevent international tax evasion. Hacienda utilizes this detailed data to cross-reference declarations against your annual income tax return (Modelo 100) and your Wealth Tax return (Modelo 714).
Executing international asset declarations requires specialized cross-border financial expertise. Traditional domestic accountants (gestorías) frequently focus exclusively on domestic banking structures and may lack the technical framework to process complex foreign investment portfolios accurately. Tytle provides a secure, asynchronous digital platform optimized for international tax administration. You can upload your end-of-year financial statements and portfolio summaries directly to our infrastructure. Our certified Spanish tax professionals manually audit your worldwide assets to ensure precise categorization under Spanish law. Our fixed-project pricing provides transparent cost structuring for your administrative compliance.
For highly skilled professionals relocating to Spain, statutory classification dictates reporting requirements. Individuals legally enrolled in the Special Expatriate Regime (the Beckham Law) are treated as non-residents for wealth tax purposes.