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Do Spanish Bonds serve a useful purpose as a Tax Planning Tool in Spain? Image

Do Spanish Bonds serve a useful purpose as a Tax Planning Tool in Spain?

June 30, 2021

Have you considered a Spanish Bond as a part of your tax planning in Spain?


If you have been missold a Spanish bond by a commission hungry financial adviser you are excused for being put completely off by the notion of holding your  financial assets within a tax wrapper.


The reality is that every country has its own version of these tax efficient structures based on a unique set of tax rules. You are probably aware that the UK has its own version too.  ‘The UK Bond’ which is an extremely tax efficient vehicle.


The Spanish Bond is not a bad product per se. It’s the commission hungry ‘single product’ salesmen operating as financial advisors across Spain which it give it a bad name.


We can agree that its often not needed and creates an unnecessary layer of costs which  unscrupulous financial advisers exploit to charge hidden and often exorbitant establishment fees. And please never allow a financial advisor to convince you that’s its okay to hold your pension assets inside a Spanish Bond. Its not.  They wouldn’t be acting in your best interests if they did.


However the Spanish Bond does have tax deferral qualities and may possibly even help to reduce or  possibly even avoid Spanish succession taxes making it  an attractive tax planning tool when used at the right time for the right reasons.


More about Spanish Bond read here: https://www.fiduciarywealth.gi/what-we-do/our-services/spanish-bond 


We provide financial planning advice for UK nationals - expats in Spain. For further information about our financial planning, tax planning, pensions and investments services please contact our office on Tel: +44 207 998 0570 or e-mail enquiries@fwm.gi.  Our financial advisers are friendly and engaging, with strong ethics, providing high quality, holistic and tailored financial advice to expats in Spain.


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