Client Alert #3/2023: The term to present the Model 720 of investments abroad ends

Next March 31 is the deadline for the presentation of the Model 720 investment abroad.

Residents in Spain who own assets or rights abroad are obliged to submit this statement.

Therefore, it is convenient to hurry to request the information from the foreign financial entities in which you have deposits or financial assets of any kind. Remember that this information refers to the year 2022 and especially to the situation of December 31.

Failure to submit the declaration on time may lead to sanctions.

Natural persons residing in Spanish territory are obliged to present the declaration on assets and rights located abroad, that is, those who during the year 2022 have remained in Spain for more than 183 days.

The obligation to declare only covers the following types of assets and rights that were owned on 31-12-2022 and were located or could be exercised outside of Spain:

1. Accounts in financial institutions located abroad.

2. Securities, rights, insurance and income deposited, managed or obtained abroad.

3. Real estate and rights to real estate located abroad

We recommend requesting the information from foreign financial and insurance entities as soon as possible so that they provide the necessary documentation to prepare the Model 720 declaration, or, where appropriate, to prove that there is no obligation to present it.

For any doubt or clarification we at FONT & YILDIZ are at your disposal.

Font & Yildiz - abogados en Barcelona
Avenida Diagonal 601 Planta 6ª C
08028 Barcelona

Tel. +34 93 494 89 80
Fax +34 93 494 89 81

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Esta actuación está impulsada y subvencionada por el SOC, y financiada al 100% por el Fondo Social Europeo como parte de la respuesta de la Unión Europea a la pandemia de COVD-19

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