Wealth management within a tax and legal advisory firm encompasses the services provided to high net worth individuals and families to manage and grow their financial assets. This can include tax planning, investment management, estate planning, and other financial services.
In Spain, tax obligations for wealth holders include paying taxes on income, capital gains, inheritance and wealth tax. It is important to note that tax laws and regulations may change over time, and can also vary in each region within the country, depending on where the taxpayer resides or where properties are located.
Additionally, it is important to consider that taxation is a global responsibility, meaning that incomes and transactions conducted worldwide may result in taxation in Spain for individuals with Spanish residence. In the case of international residents or holders, it is necessary to review the tax implications for each duty, as well as to work with international DTSs (Double Taxation Agreements) signed between the Spanish kingdom and other countries to avoid double taxation.
When considering making a will or transferring properties inter vivos, it is also crucial to review different options and to ensure tax efficiency.
