Moving 30,000GBP to Spain?

Last activity 20 July 2021 by tomcrudeoil

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noz03New member18 July 2021 13:36:49

I know I need to declare bank accounts or assets worth more than 50,000 euros. But my only UK account has around 30,000GBP (I also don't have any other assets), and I want to transfer this to Spain.

Do I need to declare anything before or later? And will the Spanish government ask any questions about it? What should I expect?

In case it is relevant: I am resident in Madrid community for more than a year, am currently not working and also planning to register a freelance business in the coming months.

JohncarSpain expert19 July 2021 07:48:29

1412

Noz
You have answered your own question

`I know I need to declare bank accounts or assets worth more than 50,000 euros.´

You have only 30,000

PS When reporting your assets abroad three categories of assets are considered separately:

bank accounts

bonds & insurances and

real estate.

tomcrudeoilMember20 July 2021 12:57:11

You could deposit the funds in an offshore account or a private bank then take out business loans from the bank. This way any funds transferred to you looks like a business loan and not your personal funds.

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