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In Spain, the same gross roll up or tax deferment is also applicable and if the provider of the investment bond has fiscal representation in Spain, the provider will account to the tax authorities regarding the basic level of tax due on realised gains, currently 19%. (If applicable, any higher rate of tax due will need to be accounted for directly by the investor.)

Furthermore, there is no need to declare details of the investment in the Modulo 720 annual filing which is required to report assets held outside Spain.

Consequently, in addition to the tax efficiency, there is also the benefit of reduced administration.

Whilst in Spain there are some restrictions to the investments which can be held in the bond, a wide spread is available and a suitably managed investment portfolio can be established in line with individual attitudes to investment risk, capacity for loss and personal objectives.
ABC Europe Limited
First Floor, Unit 9/10, Riverview Business Park, Station Road, Forest Row, East Sussex RH18 5FS, United Kingdom.
Tel: +44 (0) 20 3167 0880 Email: info@abc-eu.com

The financial advisers trading under Alexander Bates Campbell Europe Limited are members of Nexus Global. Nexus Global is a division of Blacktower Financial Management (International) Limited (BFMI). All approved members of Nexus Global are Appointed Representatives of BFMI. BFMI is licensed and regulated by the Gibraltar Financial Services Commission (FSC) and bound by the rules under license number 3647.