I've found a few threads on the forum about Spain and the Beckham law, but curious since my situation seems to be a bit different.
I'm an entrepreneur with different private equity interests in profitable private businesses in a smaller EU country. These have been built up over the last 5+ years. Management is outsourced and I'm not really involved in the day-to-day, just strategy. My country of residence has no exit tax. My wife and I are considering relocating to a country around the mediterranean, with Spain being our preferred destination from a lifestyle PoV. She is a Spanish citizen with dual citizenship.
I'm aware Malta and especially Cyprus seem to offer better tax benefits, but they are further away and less connected to the rest of Europe and the world (e.g. harder to take a short flight to Paris, London, etc).
Does anyone have experience basing themselves in Spain, as a self employed person / entrepreneur, for the duration of the Beckham law? We would likely base ourselves in Barcelona for the 6 years and then depart.
Professionally, I will eventually be able to exit my equity interests tax free through my holding company (holding company enjoys participation exemption on gains). Right now most of my 'consulting' income from these businesses (about mid 6 figures/year) is invoiced into a personal management company, in our country of residence, from which I draw dividends. Our net tax is about 35%.
Is it possible to set up a management company (in Spain) and re route these management fees into said company, and have them paid out under the Beckham law to me personally?
My thought would be to set up a Spanish entity to put myself within the application of the law, but where I own, say, 20% of the equity. Does the Spanish tax code contain any avoidance provisions against this? I'm aware the Spanish hacienda seems to be trigger happy when it comes to tax investigations..
Aside from these interests I have a broad (low risk) investment portfolio in Irish based ETFs that pay out dividends which are exempt from withholding tax. Given our current tax rate is about 35%, I honestly don't care so much about the reduction to 24%. But I do care about the exemption from the local wealth tax, and the exemption on foreign capital gains and dividends.
Thoughts welcome! (But please, no random "avoid Spain" quotes.
). No crazy things -- I do everything legitimately and above board. Obscurity is not a strategy.
I will consult a tax lawyer in both my country of residence and Spain, but doesn't hurt to check.
I'm an entrepreneur with different private equity interests in profitable private businesses in a smaller EU country. These have been built up over the last 5+ years. Management is outsourced and I'm not really involved in the day-to-day, just strategy. My country of residence has no exit tax. My wife and I are considering relocating to a country around the mediterranean, with Spain being our preferred destination from a lifestyle PoV. She is a Spanish citizen with dual citizenship.
I'm aware Malta and especially Cyprus seem to offer better tax benefits, but they are further away and less connected to the rest of Europe and the world (e.g. harder to take a short flight to Paris, London, etc).
Does anyone have experience basing themselves in Spain, as a self employed person / entrepreneur, for the duration of the Beckham law? We would likely base ourselves in Barcelona for the 6 years and then depart.
Professionally, I will eventually be able to exit my equity interests tax free through my holding company (holding company enjoys participation exemption on gains). Right now most of my 'consulting' income from these businesses (about mid 6 figures/year) is invoiced into a personal management company, in our country of residence, from which I draw dividends. Our net tax is about 35%.
Is it possible to set up a management company (in Spain) and re route these management fees into said company, and have them paid out under the Beckham law to me personally?
My thought would be to set up a Spanish entity to put myself within the application of the law, but where I own, say, 20% of the equity. Does the Spanish tax code contain any avoidance provisions against this? I'm aware the Spanish hacienda seems to be trigger happy when it comes to tax investigations..
Aside from these interests I have a broad (low risk) investment portfolio in Irish based ETFs that pay out dividends which are exempt from withholding tax. Given our current tax rate is about 35%, I honestly don't care so much about the reduction to 24%. But I do care about the exemption from the local wealth tax, and the exemption on foreign capital gains and dividends.
Thoughts welcome! (But please, no random "avoid Spain" quotes.
). No crazy things -- I do everything legitimately and above board. Obscurity is not a strategy.I will consult a tax lawyer in both my country of residence and Spain, but doesn't hurt to check.
We have already spent much time on various islands in the Caribbean and those are not particularly exciting to us.
