Modelo 720 Filing for Expats in Spain
Declare your foreign assets correctly and avoid penalties.
File before the 31 March deadline.
Stay tax compliance and avoid fines with Baleario
Don’t let Form 720 submissions overwhelm you. At Baleario, we make it easy to meet your tax obligations, avoid fines, and stay stress-free.
Just contact us, and we’ll handle the entire process for you!
- Personalised advice: Our expert accountants will analyse your case and guide you through every step.
- Complete filing support: We’ll prepare and file Form 720 based on your unique situation.
- Direct submission: We’ll ensure your declaration is submitted promptly to the Tax Agency.
Contact us today
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What is Form 720?
Form 720 is an annual informative declaration required for tax residents in Spain who have assets abroad exceeding €50,000. It ensures that the Administration is aware of your overseas:
- Bank accounts
- Real estate
- Shares, participations, insurance, or annuities
- Cryptocurrencies
Who needs to file Form 720?
You must file Form 720 if you are a Spanish tax resident and hold over €50,000 in assets abroad in any of the following categories:
- Foreign bank accounts
- Assets, rights, insurance, or investments held abroad
- Real estate located outside Spain
Threshold: Over €50,000 on 31 December, or if the average bank balance in the final quarter exceeds €50,000.
Deadline: 1 January – 31 March each year.
What happens if you don’t file?
Failing to submit Form 720 can lead to significant fines:
- Omission fines: €5,000 per missing piece of information, with a minimum of €10,000 per asset group.
- Missed submission: Minimum fines of €10,000 per asset group.
- Late submission: €100 per piece of information, with a minimum of €1,500.
Avoid the stress and financial burden.
Why choose Baleario?
Personalised service
We carefully analyse your tax and financial situation to provide tailored solutions.
Easy and transparent process
We’ll explain exactly what data and documents are needed, ensuring everything is accurate and compliant.
Expert team
Your case will be handled by experienced accountants and tax professionals who specialise in asset declarations in Spain.
Compliance and peace of mind
Modelo 720 carries strict reporting requirements. Our team ensures your foreign assets are declared correctly and in line with Spanish tax regulations.
Clear guidance throughout
If anything is unclear, we guide you step by step and answer your questions, so you always understand what is required and why.
Ready to simplify your tax filing?
Make your life easier by leaving your Form 720 submission in the hands of experts. Avoid fines and gain peace of mind with our hassle-free service.
