Can Spain tax you even after you leave?

Those Spanish tax residents who meet the following requirements may be subject to an exit tax:
Those persons who have been tax residents in Spain for at least 10 of the 15 tax periods prior to the last tax period for which IRPF must be declared.
They cease to be tax residents in Spain.
They are holders of:
Shares or participations in entities whose market value, determined in accordance with the indicated IRPF, exceeds, jointly, 4 million euros.
Or being the holder of shares representing at least 25%, provided that the market value of the shares in the company exceeds 1 million euros.
Thus, it seems clear that the exit tax is intended to retain in Spain those high net worth individuals and businessmen with strong roots in Spain who have probably already been paying significant taxes.

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DERREN JOSEPH:
How does it work if it is that you go to any jurisdiction that has a lower, effective tax rate than Spain, or does it have to be one of the master jurisdictions?

RICKY GUTIERREZ:
If it’s a blacklisted ritualization so let’s say someone that, that they spend segments in, they want to move to, let’s say to Ireland, they won’t have any issues with that. I mean, they, they can, of course, we always recommend doing some tax planning before to see how is it going to affect them, the fact of moving to, to another jurisdiction. But if you go, to someplace with a low tax, low taxation, that’s no problem at all. But if you go to a tax Haven that pays nothing, then the Spanish tax authorities for sure will come to you and they will come claiming the taxes that you are not paying in, in these other countries. And as mentioned is the first year you get to the other country and the following four years. So in total, it’s five years. Yeah.

DERREN JOSEPH:
Hmm. Okay. So that would also include no taxes, no tax jurisdictions, like the UAE, Dubai United Arab Emirates, Dutch, Caribbean, The Bahamas Barbados, lots of Caribbean islands, basically here. Lots of nice places that list. Okay. Gotcha.

OUTRO:
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