720 MODEL

720 MODEL.

If you live in Spain and you have more than 50.000 euros aboard, in any kind of economic form, for instance savings, deposits, stocks, properties, you need to do the 720 form. 

The purpose of this form is to inform the government about your economic situation aboard when is relevant, this form does not generate any type of taxation, but if you don’t do it you may be subject to hard penalties sometimes 10.000 euros or more, so this form needs to be submitted between January 1 and March 31 of year.You need any help

with the 720 Model? Please reach us!