That's usually all they ask for; Proof that you actually exist (and enough information to do a background check, usually using services such as World Check.

If you were moving millions through that account, you can bet that serious questions about source of funds would quickly be asked, and the money frozen until you can prove the legitimacy of those funds.

Notwithstanding evidence of criminal activity, unless some government tax authority issues a court order to release the information, there is no obligation to provide account information to anyone. And AFAIK, it's illegal to disclose any information to any third party without a court mandate to do so.

When did you open it?

I opened an account in Gibraltar a few years ago and didnt have to give them my Spanish tax code

But I've recently been enquiring about offshore accounts and all the banks I've been talking to request it. It is a new requirement

Gibraltar isn't really a "tax haven". Try Seychelles, Panama, Belize, St. Lucia, BVI, even Singapore and Hong Kong...

But beware that "credible" offshore banks usually require large minimum balances and impose hefty transfer fees. HSBC and Barclays both make big BIG money in offshore.

But if you really want to protect yourself, you should set up an offshore corporation, hire a nominee director, open the account in the name of the corporation, and conduct all transactions in the name of the corporation.

I dont want to avoid tax, I actually want to pay it, as everyone should

My warning was that most people on this forum will have bank account outside Spain, either in the UK, or offshore. The new law means that they could be fined heavily if they do not declare the existance of these accounts, and of any interest generated to the Spanish tax authorities

I have just had a look and I have one account earning interest - a princely 0.89% of £couple of hundred is a sum to really rock the Bolsa off its tiny little feet.

but then its easier to chase all those money grabbing expats of various countries than it is to chase the bank accounts of the good old boy politicians, national and local


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What are you talking about? It is one law for everybody

Obviously everyone is supposed to declare their world assets, but I think that date was the end of the amnesty, if you were hiding money in an offshore account to avoid tax? If you declared it before the amnesty was up you would only have to pay 10% tax.

But I could be wrong.

Yes, it is the end of the amnesty. And after this date there will be severe penalties for every piece of information that you have not declared, as I stated previously

I'm not sure how much tax you are meant to pay if you declare now. I actually thought it was a chance for people to declare their assets and pay no back tax

Naarh, much easier than that.

I opened one in the Isle of Dogs. I bet they won't think of looking there!

And how do you actually declare it? I think that's what the OP was asking. Do you wait till you do your IRPF returns in May?

You need to fill in a form for each bank account that you own, both for those in Spain and those outside of Spain. I cant remember the name of it, but I think you can download it from the hacienda website

I first opened an account about 4 years ago and opened 2 new ones with the same provider in February of this year. I can't really see why when you opened it should be an issue as surely if it is now a requirement the provider would have to write to all existing account holders to request the information.

More info about the amnesty and declaration:

"Anyone opting to use this amnesty to regularise undeclared assets must submit a special return (Form 750) by 30th November 2012. They have to detail all their undeclared assets and income, and pay a one-off tax liability at the same time. There are no provisions for deferring payment or instalments.

The tax liability is 10% of the undeclared assets – it does not apply to undeclared income, but to the value of the assets connected to or acquired with the undeclared income.

As a general rule, the value to be declared is the acquisition cost of the asset (or the acquisition value corresponding to the undeclared income if the asset cost more).

In the case of bank accounts, the value to be reported is the amount on deposit at 31st December 2010. The cash needs to be deposited into an account in Spain or another EU country before Form 750 is filed. This will ensure that going forward Spain receives the full amount of tax due.

There is an option to declare higher bank balances prior to 31st December 2010.

Submitting Form 750 and paying the 10% tax regularises the undeclared income for income tax, corporation and non-resident income tax purposes. All tax on the undeclared income will be treated as having been paid; income or gains cannot be subject to further tax. The owner is also exonerated from any penalties, surcharges and interest on the overdue tax."


The form you need is MODELO 750. Here is a guide on how to fill it in.

I'm not sure this is the same thing.

RTN is talking about a new law that was introduced in November this year. The amnesty law was introduced in March this year and runs out at the end of this month. By all accounts it was a big flop and they only raised €150 million instead of the €2.5 billion they were hoping for.

not as much fun when you hold your annual shareholders meeting at ........

now those are places for a shareholders meeting