Whether you want to grow your savings, invest in global markets or plan your retirement in Spain, we help you do it with Allianz solutions and regulated advice in English — taking your residency and tax situation into account.
Investing as a Spanish resident
Four tax basics every expat investor should know
General information on Spanish tax rules, last reviewed in September 2026. It is not personal tax advice: your situation depends on your residency, your home country and any double taxation treaty, so confirm it with your tax adviser. Investments can go down as well as up, and past performance is not a guide to future returns.
Allianz Global Investors
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FAQs
Investment questions from international residents
Can I invest with Allianz in Spain if I’m not Spanish?
Yes. International residents can invest with us in the same way as Spanish nationals. You’ll need your NIE and passport or residence card, a Spanish bank account, and to complete the MiFID II suitability questionnaire so we can recommend products that match your profile and goals.
How is investment income taxed in Spain?
If you are a Spanish tax resident, interest, dividends and capital gains are taxed as savings income: 19% on the first €6,000, 21% up to €50,000, 23% up to €200,000, 27% up to €300,000 and 30% above that. Pension plan benefits are taxed as earned income instead.
I’m moving to Spain. What should I do with the investments I hold back home?
It depends on the products and on when you become tax resident. Once you are resident, gains on foreign investments are taxed in Spain and assets abroad worth more than €50,000 per category must be reported on Modelo 720. We review what you have, together with your tax adviser, before suggesting any change.
Can I transfer my existing funds to Allianz without paying tax?
Yes, if you are a Spanish tax resident and your funds are registered with the CNMV. A fund-to-fund transfer (traspaso) doesn’t trigger tax on the gains, so you can move your portfolio to Allianz Global Investors funds and only pay tax when you finally cash in.
What are the tax benefits of a Spanish pension plan or PPA?
Contributions reduce your taxable income by up to €1,500 a year, and more through some employer and self-employed plans. The benefits are taxed as income when you receive them, so the saving is greatest if your tax rate is lower in retirement.
What happens to my Spanish pension plan if I leave Spain?
Your plan stays invested and you can still access it in the usual situations: retirement, permanent disability, serious illness, long-term unemployment, or for contributions made more than 10 years earlier. How the withdrawal is taxed will depend on your new country of residence and the applicable tax treaty, so talk to us before you move.
I don’t want to risk my savings. What guaranteed options are there?
Allianz Plazo Flexible, Allianz Capital and the Insured Pension Plan (PPA) are savings insurance products that protect your capital and pay a guaranteed interest rate set in the contract. Investment funds, ActiveInvest portfolios and unit-linked plans can go down as well as up.
Can a unit-linked policy help with inheritance planning?
Yes. Because it is a life insurance policy, the beneficiaries you name receive the money directly, without it going through the will or the estate. Spanish inheritance tax still applies to what they receive, but the process is usually much faster.
Is your investment advice regulated, and do you charge for it?
Yes, it is regulated. Our advice follows the EU MiFID II rules and the Spanish insurance distribution law, including a suitability test of your risk profile. The initial review of your savings is free and without obligation.
