You had me at 'review your goals and make a spreadsheet'! I still get distracted by properties that I would love to live in rather than those that will generate income (which is the priority).
Great video. It’s similar with our tax sheltered accounts here in Canada as well. No more contributions once you become a non-resident and Spain will tax you on any growth since they don’t recognize them as special accounts.
Hello Johnny, I'm in a similar situation, I have some tax free accounts in another EU country, similar to your french one. I haven't closed them yet because I'm not obliged to but I will have to pay capital gains and personal income tax once I do. Anyway my question is do you know if there is an investment account in Spain which is tax free apart from pension plans? I'd like to transfer my stocks from abroad to here. Your channel is really useful, thanks for the great tips and insights 👍
Hey! It's a tough one, a lot of the banks and financial institutions in Spain in theory should accept a transfer of the custody of the shares between brokers but in practice it can get messy when it comes to the original holding entity and the new one communicating with one another, there might also be custody fees depending on the entity in Spain. In your position, before selling and being subject to the capital gains, I'd speak first to the entity where your investments are in the other EU country to understand if there are any other options besides closing, and if not speak to some entities in Spain to see if the assets can be transferred across. Hope this helps and thanks for watching!
What have you learned whilst building wealth abroad? Leave a comment and let me know!
Interesting video as usual, finance can be tricky and complicated sometimes
You had me at 'review your goals and make a spreadsheet'! I still get distracted by properties that I would love to live in rather than those that will generate income (which is the priority).
You're totally right, very easy to fall into that trap! Thanks for watching Mick!
Great video. It’s similar with our tax sheltered accounts here in Canada as well. No more contributions once you become a non-resident and Spain will tax you on any growth since they don’t recognize them as special accounts.
@@bajanalpha4 thanks for watching!! Exactly, very important to consider when moving abroad.
Hello Johnny, I'm in a similar situation, I have some tax free accounts in another EU country, similar to your french one. I haven't closed them yet because I'm not obliged to but I will have to pay capital gains and personal income tax once I do. Anyway my question is do you know if there is an investment account in Spain which is tax free apart from pension plans? I'd like to transfer my stocks from abroad to here.
Your channel is really useful, thanks for the great tips and insights 👍
Co-ask too
Hey! It's a tough one, a lot of the banks and financial institutions in Spain in theory should accept a transfer of the custody of the shares between brokers but in practice it can get messy when it comes to the original holding entity and the new one communicating with one another, there might also be custody fees depending on the entity in Spain. In your position, before selling and being subject to the capital gains, I'd speak first to the entity where your investments are in the other EU country to understand if there are any other options besides closing, and if not speak to some entities in Spain to see if the assets can be transferred across. Hope this helps and thanks for watching!
@@MillennialsWithMoney will do, thanks!