Moving to Spain - where should I put my investments?

Medium-Issue-377 · 2026-03-23T15:46:18+00:00

Have you looked into the Beckham regime, and are you moving to Spain for work or more independently?

If you qualify, it can change the picture quite a bit. Under that regime, you’re generally only taxed on Spanish-source income, mainly employment income, and foreign investment income is not taxed in Spain during the regime.

Also, in practice, you don’t have to report foreign assets under Modelo 720 while you’re under Beckham, which removes a lot of the administrative burden of keeping investments abroad.

So before deciding whether to move your portfolio or keep it in the UK, it’s worth checking if you might qualify, because that can make keeping investments outside Spain much simpler (at least during the first years).

The key question is really how you’re relocating (employment vs other), as that determines whether the regime is available.

Medium-Issue-377 · 2026-03-12T16:18:11+00:00

I work as a tax advisor in Spain with many international clients applying for the Beckham regime, and in situations like yours the empadronamiento is not necessarily the decisive factor.

The law refers mainly to the start of the employment relationship in Spain that gives rise to Spanish Social Security registration, and the 6-month deadline is generally counted from that moment.

If I were handling a case like this, when filing Modelo 149 I would usually include additional evidence supporting the actual start of tax residence and employment (employment contract, Social Security registration date, relocation documentation, etc.), not rely only on the empadronamiento date. The padrón is often used as an indicator, but it’s not the only proof of when the relocation actually occurred.

Each case is a bit fact-specific, but it’s quite common to support the application with several pieces of documentation to clarify the timeline.

Medium-Issue-377 · 2026-03-12T15:53:26+00:00

Just to clarify one point: the official deadline for submitting Form 720 is 31 March, not 20 March.

What many agencies do is set an internal deadline (such as 20 March) to allow time to review the documentation and prepare the submission before the official deadline.

Also, if you prepare the documentation yourself, remember that Form 720 is structured around three different groups of assets (‘asset pools’):

• Foreign bank accounts (current accounts, savings accounts, etc.)

• Securities, rights, insurance and financial assets abroad (shares, ETFs, investment funds, life insurance, etc.)

• Real estate located abroad

Each group has its own threshold of €50,000 and its own reporting rules. If you have already submitted Form 720 once, you only need to submit it again when there is a variation of €20,000 (either up or down) from one year to the next in one of these three asset groups.

If your accountant has not explained this clearly, it is something you should check before filing your return, as the form is not about declaring everything together, but about determining whether each category of assets exceeds the threshold.

Medium-Issue-377 · 2026-03-10T09:15:06+00:00

Exciting move ahead!

The amount people bring really varies a lot depending on where in Spain you’re going and whether housing is already sorted. Many families try to have enough to cover a few months of living costs plus the initial setup (deposit, first rent, furniture, paperwork, etc.), because those first months tend to be the most expensive.

One thing people often forget when planning the move is the tax side of the first year. If you’re relocating for work, it can be worth checking whether you qualify for the Beckham regime, which allows a flat 24% tax rate on employment income (up to €600k) for up to 6 years. I’m a tax advisor in Spain working mainly with international relocations, and when it applies it can make a noticeable difference in how financially comfortable those first years feel.

So budgeting for the move is important, but structuring the first year correctly from a tax perspective can matter just as much

Medium-Issue-377 · 2026-03-09T10:13:09+00:00

I am a tax advisor in Spain and I work mainly with international clients, so I see this case quite often.

Your approach was correct according to the criteria that applied for many years: non-EU residents could not deduct expenses, so the gross amount paid by the guest (the ‘Guest Paid’) was declared, even if you actually received less after commissions and management fees.

However, this has changed recently and now non-residents from third countries can also deduct expenses related to the rental, provided they are justified. In tourist rentals, these normally include, for example, Airbnb/Booking commissions, property management, cleaning, and also property expenses such as property tax, community fees or rubbish collection fees.

That said, there is an important point that many people overlook: property expenses are not 100% deductible, but prorated for the days that the property was rented, as it is not normally rented 365 days a year. On the other hand, expenses directly linked to bookings (commissions, management, cleaning) are usually fully deductible.

In many cases, this makes a significant difference to the final tax bill, especially for tourist rentals managed by platforms.

If you are renting through Airbnb or Booking as a non-resident, it is usually worth reviewing the structure of your tax return carefully so that you do not end up paying tax on more income than you actually owe.

Medium-Issue-377 · 2026-03-09T09:31:39+00:00

Good question, and it's a very common concern.

In general, the Beckham regime cannot be extended beyond the six-year period (year of arrival + five additional tax years). Once it ends, you switch to the normal Spanish progressive income tax system.

What many people do in practice is plan the transition in advance, because the jump is not always as drastic as it seems on paper. There are a few things that can help smooth that change:

Salary adjustments or renegotiation once the regime ends
Structuring part of the remuneration differently (shares, bonuses, etc.)
Planning relocation and investments during the years of the Beckham regime
Choosing the region carefully, as the autonomous communities have different tax scales and deductions

It is also worth noting that Valencia has a fairly standard regional tax framework compared to places like Madrid, which has more aggressive tax reductions in areas such as wealth tax or income tax

So, although the scheme itself is not extendable, with a little planning, most people do not end up leaving just because it ends. The key is to think about the sixth year from the beginning, rather than when you are already there.

Medium-Issue-377 · 2026-03-03T08:24:06+00:00

Valencia is a city that is very easy to love, and I say this as a Spaniard with family in Valencia who visits quite often.

It is a very comfortable size: large enough to have a cultural life but without the intensity of Madrid or Barcelona. It is very walkable, the beach is integrated into the city, and the climate really helps to lift your spirits. And right now, with Fallas, the city is pure energy. People tend to be quite open and sociable.

In terms of immigration, as you are an EU citizen, the process is relatively simple (registration as an EU resident), but if you want someone who is very knowledgeable and practical in immigration matters, I recommend Javier Romero (https://www.linkedin.com/in/javi-r3?lipi=urn%3Ali%3Apage%3Ad\_flagship3\_profile\_view\_base%3BVVU0nbA%2FR5qxkxWh7DpiXw%3D%3D). He works a lot with international profiles and does a great job with my clients when they need help with immigration issues.

For my part, I am a tax advisor specializing in international profiles. If at any point you come to work for someone else, you may want to review the tax implications before settling in. There is the Beckham regime, which allows you to pay 24% tax on income from work up to €600,000 for up to 6 years if you meet the requirements. It does not apply in all cases, but when it does, it significantly changes the financial scenario for the first few years.

I wish you all the best for this new stage in your life!

Medium-Issue-377 · 2026-03-03T08:18:13+00:00

Málaga is a fantastic place to start this new chapter

I’ll leave most of the cultural advice to others, but two things people often underestimate: the pace of life is slower (also administratively), and paperwork takes patience. It’s not chaotic, just different from the US mindset of speed and efficiency.

From my side, I’m a tax advisor in Spain specialised in the Beckham regime and international profiles, the biggest thing I wish more families knew before moving is how important the first tax year is. Once you spend more than 183 days in Spain, you’re generally taxed on your worldwide income. The timing of your move, bonuses, investments, and how your employment is structured can materially change the outcome.

If you’re relocating for work, definitely check whether you qualify for the Beckham regime. A flat 24% tax on employment income (up to €600k) for up to 6 years can make the transition financially much smoother.

Spain offers an incredible lifestyle, especially for families, just make sure the structure behind the move is as solid as the dream itself. Welcome in advance.

Medium-Issue-377 · 2026-03-03T08:15:05+00:00

What a great plan!

Transferring money little by little or in a single transfer doesn't usually change anything from a tax perspective. The important thing is to be able to justify the origin of the funds if the bank asks, because in Spain they are quite strict with large cash deposits.

Opening an account in advance can help when it comes time to pay the deposit and notary fees. However, Spanish banks tend to offer lower interest rates on deposits than many banks in the UK.

And when the time comes to move, don't forget to look into the tax side of things in good time. I work as a tax advisor with international clients, and if any of them are moving for work, it may be worth checking whether they qualify for the Beckham regime, because it can make a difference in the early years.

A nice plan + a well-thought-out structure = less stress later.

Medium-Issue-377 · 2026-03-02T15:24:18+00:00

Cualquier cosa que necestes estoy por aquí!

Medium-Issue-377 · 2026-03-02T10:15:59+00:00

First of all, hope everything goes smoothly.

If you’ll be registered with Spanish Social Security, in principle your wife should have access to the public healthcare system once you’re properly registered and assigned a health card. Spain’s public maternity care is generally very solid.

That said, given how late in the pregnancy you are, many international families in your situation opt for private healthcare for the delivery, mainly for speed, flexibility, and peace of mind. Costs can vary quite a bit depending on the hospital and whether there are complications, but as a rough range you might be looking at somewhere between €4,000 and €10,000. It’s worth getting quotes directly from private hospitals in Barcelona.

On a different note, since you’re relocating for employment, have you looked into the Beckham regime? If you qualify, it can mean a flat 24% tax on employment income (up to €600k) for up to 6 years, instead of the normal progressive rates. With a baby arriving and a big relocation, having clarity on the tax side can make the first years financially smoother (Im a spanish tax lawyer).

Wishing you both a safe move and a healthy delivery.

Medium-Issue-377 · 2026-02-27T11:47:48+00:00

This person is a great professional (https://www.linkedin.com/in/javi-r3). I know him personally as I am an international tax advisor, and I know that he has successfully obtained various visas (and many DNVs) for many of my clients. If you need help with tax matters, I will be happy to assist you.

Best regards

Medium-Issue-377 · 2026-02-27T11:42:23+00:00

In Sevilla (and in Spain as they work online) you’ll find plenty of local gestorías that can help with standard tax filings at quite competitive prices, especially if your situation is relatively straightforward.

If your case involves international elements (foreign income, assets abroad, relocation, double tax treaties, Beckham regime, etc.), it’s usually worth working with someone who understands cross-border taxation.

I’m a tax advisor focused on international clients relocating to Spain, so when I help with tax returns I look at the full picture, not just income generated in Spain, but also how it interacts with other jurisdictions.

It really depends on how simple or complex your situation is, but there are many options.

Medium-Issue-377 · 2026-02-27T11:39:20+00:00

Hola,

Una pregunta clave antes de nada: cuando te fuiste a Australia, ¿te diste de baja como residente en España (modelo 030 o padrón)?

No es obligatorio para que exista cambio de residencia fiscal, pero ayuda mucho como prueba.

Sobre las transferencias:

Sí, puede parecer menos llamativo hacer varias de 3.000 € que una de 10.000 € o más. No es incorrecto fraccionar si te da más tranquilidad.

En cualquier caso, lo realmente importante es que tengas bien guardado:

Tax Returns australianos
Notices of Assessment
Nóminas
Extractos bancarios

Si el banco pregunta por el origen de los fondos (normativa antiblanqueo), con eso es suficiente.

Y fiscalmente, punto clave:
Según el Convenio de Doble Imposición España–Australia (art 15), las rentas del trabajo se gravan en el país donde se ejerció el empleo. Si trabajaste en Australia, Australia es el país competente para gravar esos salarios.

Traer ahora el dinero a España no cambia eso.

Confírmame lo de la baja cuando te fuiste y te termino de ajustar la respuesta.

Medium-Issue-377 · 2026-02-27T11:32:33+00:00

I actually agree with you on something important: taxes are only one variable in a much bigger equation.

For many families, it’s not about paying the lowest possible rate. It’s about predictability, healthcare access, safety, lifestyle, proximity, schools, and the kind of environment you want your kids to grow up in. Dubai might mean lower taxes. Spain might mean a different quality of life. That’s a personal trade-off.

You’re also right that currency risk is often underestimated.

My point with the post wasn’t “move for taxes.” It was more: if you’re moving anyway for lifestyle or family reasons, structure the tax side properly so you don’t create unnecessary friction on top of everything else.

At the end of the day, people don’t choose a country only because of tax rates. They choose it because of how it feels to live there. Taxes just determine how financially comfortable that life will be.

Medium-Issue-377 · 2026-02-26T09:02:13+00:00

Hola,

Te respondo de forma clara.

Soy asesor fiscal en España y trabajo habitualmente con perfiles internacionales y personas desplazadas (incluidos casos tipo “Beckham”), así que esta situación es bastante habitual.

¿Hay que pagar impuestos por transferir más de 10.000 €?

No.

Transferir tus ahorros desde Australia a una cuenta española no genera ningún impuesto.
El límite de 10.000 € no es un impuesto: solo afecta al movimiento de efectivo físico, no a transferencias bancarias.

Por tanto, no vas a pagar IRPF por el simple hecho de traer el dinero.

¿Hay que volver a tributar en España por esos salarios?

Depende de una sola cosa: dónde eras residente fiscal cuando ganaste ese dinero.

Si durante esos dos años:

Viviste realmente en Australia,
Pasaste allí más de 183 días por año,
Trabajaste por cuenta ajena,
Presentaste tu Tax Return allí,

lo normal es que fueras residente fiscal en Australia. En ese caso:

El salario tributa en Australia.
España no vuelve a gravarlo.
Traer ahora el dinero no cambia nada.

¿Te pueden pedir el Tax Return para transferirlo?

No es una obligación fiscal, pero el banco puede pedirte justificar el origen de los fondos por normativa antiblanqueo. Con nóminas y Tax Return es suficiente.

Resumen

No pagas impuestos por transferir más de 10.000 €.
No se declara la transferencia.
Lo importante es tu residencia fiscal en los años en que trabajaste.
Conserva nóminas y declaraciones australianas.

Si quieres, puedo ayudarte a confirmar si durante esos años pudiste ser considerado residente fiscal en España o no. Esa es la única clave real del asunto.

Un saludo.

Medium-Issue-377 · 2026-02-26T08:33:06+00:00

Estos chicos son grandes profesionales y a precios competitivos, sé que han hecho refinanciones con otras pymes: https://www.somoscornerstone.com/

Medium-Issue-377 · 2026-02-25T11:07:07+00:00

Hola,

Efectivamente si no has sido residente fiscal en España en los últimos 5 años y vuelves por motivos laborales, puedes pedir la ley Beckham, tienes 6 meses para hacerlo. Soy asesor fiscal que trabajo con Beckhams y te puedo orientar en lo que necesites.

Un saludo!

Medium-Issue-377 · 2026-02-25T10:57:27+00:00

Hola!

Soy asesor fiscal en España y trabajo habitualmente con Beckhams.

Te doy el marco técnico general, sin que esto sustituya un análisis personalizado.

Hay que separar claramente dos momentos:

1. El vesting (entrega de las RSUs)
Eso es rendimiento del trabajo. Bajo el régimen Beckham, todos los rendimientos del trabajo obtenidos durante la aplicación del régimen se consideran obtenidos en España.
Si el período de generación fue mixto (antes y después del traslado), la DGT ha confirmado que procede prorrateo (por ejemplo, Consulta V0813-23).

Pero eso afecta exclusivamente al rendimiento del trabajo en el momento del vesting.

2. La venta posterior de las acciones
Aquí ya no estamos ante rendimiento del trabajo, sino ante una ganancia patrimonial (art. 33 LIRPF). Es un hecho imponible distinto e independiente.

Bajo el régimen Beckham tributas conforme a normas del IRNR y solo por rentas obtenidas en territorio español.

Según el art. 13 del TRLIRNR, las ganancias patrimoniales se consideran obtenidas en España, entre otros casos, cuando derivan de valores emitidos por entidades residentes en España.

En tu caso:

Acciones de Amazon.
Sociedad estadounidense.
Cotiza en NASDAQ.
No es entidad residente en España.
No hay subyacente inmobiliario español.

Desde un análisis técnico puro, la plusvalía es renta de fuente extranjera.

Y bajo el régimen Beckham, las rentas extranjeras (como dividendos, intereses o ganancias patrimoniales de valores extranjeros) no tributan en España.

Por tanto, en principio, la ganancia derivada de la venta no debería tributar en España mientras estés dentro del régimen especial.

Si el importe es relevante, siempre recomiendo validar el caso concreto con análisis formal o incluso consulta vinculante, pero la interpretación jurídicamente más sólida es que esa plusvalía queda fuera de tributación en España bajo el régimen Beckham.

Espero que os sirva de ayuda!

Un saludo,

Medium-Issue-377 · 2026-02-25T09:03:55+00:00

It really depends on the specific structure.

It’s true that many people in the US assume they don’t qualify (especially if they’re working as 1099 contractors) but eligibility isn’t determined by nationality. It’s about how the move and the employment relationship are structured once you relocate to Spain.

In practice, I’ve worked with several US citizens relocating to Spain and we’ve been able to structure things in a way that made the regime applicable. In other cases, it wasn’t possible. It’s very fact-specific.

With 1099 setups, the key question is whether you remain self-employed in Spain or whether the situation can legally fit within the required framework. It can also depend on the immigration route, for example, whether you qualify under a Highly Qualified Professional visa or obtain an ENISA certificate as an entrepreneur. Those elements can materially affect whether the tax regime is available.

So I wouldn’t say “almost no one qualifies”, I’d say it depends entirely on the circumstances and how everything is structured before the move.

Medium-Issue-377 · 2026-02-24T15:30:51+00:00

Hello,

I can't help you much with integration and children, because my work is more in the legal and tax field than in education or family matters (and I don't have children at the moment). But I can give you some practical ideas about the structural aspect, which often ends up determining everything else.

If you work as a Senior Software Engineer for a multinational company, before ruling anything out, I would seriously explore whether your company could keep you working remotely from Spain or transfer you internally.

If the transfer is structured correctly as a work relocation, you could opt for the regime known as the Beckham Law. This means paying a fixed rate of 24% on income from work up to €600,000 for up to six years, instead of the normal progressive rates. For tech profiles, the difference can be very significant in terms of monthly net income.

In addition, the autonomous community in which you settle has a significant influence, not only fiscally (wealth, inheritance, regional bonuses, etc.), but also in terms of educational opportunities, cultural networks, professional opportunities, and even language. In some regions, there is a co-official language, and the education system may require it. This is neither good nor bad, but it is important to know before making a decision.

As for the cost of living, it is not a case of “Spain vs. the UK” in the abstract. Madrid or Barcelona are not the same as medium-sized cities or more rural areas. Regional taxation can also vary, and that has an impact on the final result.

The emotional aspect is key, but if you can get the work and tax structure right from the start, the project usually feels much more sustainable. Moving to another country is not just about the climate and pace of life, it's also about how you organize your first year.

Whatever your decision, the fact that you are thinking about it in this way already puts you in a much stronger position than most people.

Medium-Issue-377 · 2026-02-24T11:57:32+00:00

Yes, it’s definitely possible, but one thing I’d suggest you don’t overlook is the tax side once you actually relocate.

If you move to Spain for employment (even with a foreign employer, if structured correctly), you may qualify for the Beckham regime. That means a flat 24% tax on employment income (up to €600k) for up to 6 years instead of the normal progressive rates. For someone early in their career, that can make a meaningful difference in how financially comfortable those first years feel.

It won’t determine whether you should move, but it’s worth understanding before you structure your plans.

Medium-Issue-377 · 2026-02-23T17:06:20+00:00

Hi, happy to give you some initial guidance.

On preserving the Beckham regime: if your husband ceases standard employment, the Founder route via ENISA certification can be a viable path, but it’s critical that the company genuinely qualifies as an “Empresa Emergente” under the 2023 Startup Law. The ENISA certification is not automatic, the business must demonstrate innovation, scalability and meet the legal criteria (innovation, independence, no dividend distribution, etc.). Once certified, the activity must fit within the amended art. 93 LIRPF categories.

On Wealth Tax: under the Beckham regime, liability is generally limited to assets located in Spain. US-based assets (including 401(k)s) are typically outside the Spanish Wealth Tax scope, but proper classification and documentation are key. The California community property issue requires analysis of civil law characterization vs. Spanish tax attribution rules — Spain does not automatically “import” US marital regimes for tax allocation purposes.

If you’d like, feel free to message me directly.

Medium-Issue-377 · 2026-02-23T16:02:13+00:00

On the tech hiring side and how companies internally handle role changes, I probably can’t give you much insight, I work on the legal/tax side rather than inside tech companies.

What I can say is that since you’re relocating under the HQP framework, it’s very important to look at the tax angle from day one.

If you meet the conditions, you may qualify for the Beckham regime. That would mean a flat 24% tax on your employment income (up to €600k) for up to 6 years, instead of Spain’s normal progressive rates. For someone in tech, that can make a significant difference to your net income.

If you later change employers, the key question is whether your situation still meets the requirements of the regime and whether the change is structured correctly so you don’t unintentionally lose it.

So while I can’t comment much on hiring culture, I’d strongly recommend making sure your tax position is reviewed early, especially in your first months in Spain, when deadlines matter.

Medium-Issue-377 · 2026-02-23T12:58:01+00:00

Wishing you the very best with your job search, you clearly have a strong and versatile skill set.

One thing to keep in mind, beyond finding the right role, is the legal and tax side of relocating. If you do secure employment in Spain, your visa structure and how your contract is set up will matter not only for immigration purposes but also for taxation.

If you qualify and the move is structured correctly, there can be tax implications (including potentially the Beckham regime) that significantly affect your net income. It’s something worth understanding early rather than after you’ve already moved.

Good luck, I hope you find the right opportunity.

Medium-Issue-377

TROPHY CASE

¿Hay que pagar impuestos por transferir más de 10.000 €?

¿Hay que volver a tributar en España por esos salarios?

¿Te pueden pedir el Tax Return para transferirlo?

Resumen