Investment and savings for expats in Spain

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.

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.

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.

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.

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.

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.

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.

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.

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.