David
Accountant · Barcelona, Spain
- 103 cases handled · 2 in this service
- 11+ years in practice
- Speaks: English, Spanish
- Economia, Universitat Autonoma de Barcelona
Foreign Assets Declaration (Modelo 720) in Spain
Modelo 720 is the Spanish declaration of assets held abroad by people who are tax resident in Spain. An English-speaking tax lawyer explains which assets count and handles the filing.
About Foreign Assets Declaration (Modelo 720) in Spain
The foreign assets declaration in Spain is known as Modelo 720, form 720 or M720, and in Spanish as declaración de bienes y derechos en el extranjero. It is an information return, not a tax: people who are tax resident in Spain report what they own outside Spain, such as bank accounts, investments, insurance products and real estate. Some older lists and lawyer pages call this service “Foreign Assets Declaration (M720)”.
Who it concerns and when
It concerns residents of Spain who own, benefit from or control foreign assets above a threshold in a category. Newly arrived residents, retirees with accounts or homes in another country and owners of foreign holdings are typical cases. After the first declaration, a new one is generally needed only in specific situations. Thresholds and rules change, so a lawyer confirms the current ones.
How it usually works in Spain
The assets are grouped by category and valued as at the relevant date. The return is filed electronically with the tax agency (Agencia Tributaria) in a window set each year. Crypto assets held abroad are reported on a separate form, Modelo 721.
How a lawyer or tax adviser helps
An English-speaking registered adviser identifies which assets are reportable, gathers statements from foreign banks, prepares the return and files it. Missing an account or a category is the usual source of trouble.
Related questions
- Residents also report foreign income in the personal income tax return.
- A yearly tax on net assets is explained under wealth tax.
Questions and answers
Who has to file Modelo 720?
Generally people who are tax resident in Spain and hold foreign assets above the reporting threshold in a category.
Does it matter if the assets produce no income?
Yes. The declaration is about ownership and value, so assets that earn nothing can still be reportable.
Is the declaration still required after the EU court ruling?
The ruling concerned the penalty system. The reporting duty itself is generally understood to remain, and a lawyer confirms the current rules.
Do I have to file every year?
Generally not. After the first declaration, a new one is needed only when certain changes occur, such as a sale or a large increase in value.
6 lawyers who provide Foreign Assets Declaration (Modelo 720) in Spain
Sorted by experience in this service. Write to any of them — the reply comes from the lawyer, without obligation.
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Aleix
Lawyer · Barcelona, Spain
- 30 cases handled · 2 in this service
- 4+ years in practice
- Speaks: English, Spanish
- Business-Management, Universitat de Barcelona
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Raffaele
Lawyer · Barcelona, Spain
- 1,553 cases handled · 1 in this service
- 15+ years in practice
- Speaks: English, Portuguese, Italian, Spanish
- Spanish Law; Italian Law, Universitat Pompeu Fabra - Università degli Studi di Milano
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4.90(38 reviews)
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Inma
Lawyer · Valencia, Spain
- 716 cases handled · 1 in this service
- 18+ years in practice
- Speaks: English, Spanish
- Law, University of Valencia
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4.99(56 reviews)
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María
Lawyer · Estepona, Spain
- 184 cases handled
- 8+ years in practice
- Speaks: Spanish, English
- Law, University Granada
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4.60(5 reviews)
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Maria
Lawyer · Girona, Spain
- 60 cases handled
- 23+ years in practice
- Speaks: English, Spanish
- Law, Universidad Pompeu Fabra, Barcelona
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4.38(8 reviews)
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Talk to a lawyer about Foreign Assets Declaration (Modelo 720)
6 registered lawyers provide this service in Spain. Describe your situation in a short chat — what happened, where, and how to reach you. Your enquiry is reviewed and passed to a lawyer who handles exactly this kind of case, with no obligation.
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Enquiries are answered by lawyers of AdvocateAbroad. This site provides legal information, not legal advice.
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