changing status of Bank account to non-resident

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Miro
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Re: changing status of Bank account to non-resident

Postby Miro » Mon Oct 23, 2017 3:31 pm

Similar reasons (although sadly nothing to do with wealth tax in our case, just a deeply ingrained lack of trust!) why we long since moved the bulk of our pennies out of Spain to Gibraltar; not in the European payment area (SEPA), so maybe not possible to set up direct debits cross-border, but as I mentioned before, our Lloyds account there does allow us free transfers to Spain.
Don't worry about what people think, they don't do it very often

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Gasman
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Re: changing status of Bank account to non-resident

Postby Gasman » Tue Oct 24, 2017 12:58 pm

All interesting stuff. We will look at it all again if and when we get a move organised. Probably keep on the spanish on-line account for a short while as Miro suggests, and meanwhile get local account in the new country, and shift everything out of Spain thereafter.
Saludos

Manchesteral
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Re: changing status of Bank account to non-resident

Postby Manchesteral » Fri Oct 27, 2017 2:16 pm

Miro wrote:As far as I can make out, the non-resident certificate is to prove you're a non-resident (only in Spain would you have to prove a negative), and if you don't obtain one yourself, your bank will charge you for it. Seems to me that's clearly in breach of EU rules, but that's why Spaniards would never be so stupid as to vote for Spexit (Espalida?) - their govt. & institutions aren't so stupid as to follow the rules!
Perhaps a non-resident account holder can give a better answer though?



See my previous post regarding cert of non residence.

I only maintain a debit account in Gran Canaria and transfer enough money there for my living costs, at the end of the month there is rarely more than a few hundred euros in there then I start again.

markwilding
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Re: changing status of Bank account to non-resident

Postby markwilding » Fri Oct 27, 2017 2:27 pm

I had to fill out non-resident forms on a whole raft of things in the UK so as not to pay taxes at source. However, as Spain and the UK have an agreement to share information regarding earnings, I am led to believe all this information is passed here by the UK tax office and would suppose the Spanish reciprocate.

Paddy Pumpkin
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Re: changing status of Bank account to non-resident

Postby Paddy Pumpkin » Fri Oct 27, 2017 2:57 pm

Manchesteral wrote:
Miro wrote:As far as I can make out, the non-resident certificate is to prove you're a non-resident (only in Spain would you have to prove a negative), and if you don't obtain one yourself, your bank will charge you for it. Seems to me that's clearly in breach of EU rules, but that's why Spaniards would never be so stupid as to vote for Spexit (Espalida?) - their govt. & institutions aren't so stupid as to follow the rules!
Perhaps a non-resident account holder can give a better answer though?



See my previous post regarding cert of non residence.

I only maintain a debit account in Gran Canaria and transfer enough money there for my living costs, at the end of the month there is rarely more than a few hundred euros in there then I start again.



Proof of non residence for banks is not unique to Spain. For you banking you shoould look at revolut.com. This is an internet only prepaid debit card account that let's you maintain multi currency accounts and their FX rates are much better than any bank or retail broker I have seen. The account is not in Spain but works all over the world.....so best of bith worlds

Paddy Pumpkin
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Re: changing status of Bank account to non-resident

Postby Paddy Pumpkin » Fri Oct 27, 2017 3:01 pm

markwilding wrote:I had to fill out non-resident forms on a whole raft of things in the UK so as not to pay taxes at source. However, as Spain and the UK have an agreement to share information regarding earnings, I am led to believe all this information is passed here by the UK tax office and would suppose the Spanish reciprocate.



The System in the UK is slightly different in that the HMRC don't issue non resident certificates. However like many countries it is possible to receive income free of witholding tax if you prove to the income payer you are resident abroad. Spain and UK are now both party to an agreement of over 50 countries who automatically exchange information between themselves.....there is nowhere left to hide anything!

Miro
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Re: changing status of Bank account to non-resident

Postby Miro » Sat Oct 28, 2017 11:50 am

Paddy Pumpkin wrote:HMRC don't issue non resident certificates.

As a rule, maybe not. However - and at the risk of sounding negative about Spain and being criticised for it - after 15 or so continuous years of filing my IRPFs, on requesting a certificate of fiscal residency in Spain a few years back to sell a property, Hacienda demanded a certificate of non-residency from the UK. It made no sense, especially as immediately prior to Spain I had lived in the US, not the UK, but fortunately, although they said it was unusual, HMRC obliged and provided a letter stating I was not a tax resident in the UK.
Don't worry about what people think, they don't do it very often

"Acquiring a dog may be the only opportunity a human ever has to choose a relative," Mordecai Siegal 1935-2010.

Miro
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Re: changing status of Bank account to non-resident

Postby Miro » Mon Oct 30, 2017 11:43 am

spanish_lad wrote:
Miro wrote: So our account is now €5.75 overdrawn! Absurd. Do I care?
Not one bit - they can sing for it...



Don't you worry that they will...come after you for it, plus charges?


In addition to the €5,75 charge for an international transfer, Sabadell last week whacked a €30 annual fee on our account for our debit card (up from €24 last year :wtf: ), so our account was showing as being €35,75 overdrawn. Curiously, I just checked online and both fees have been refunded under the heading "fee exemption", so our balance is now zero. I have no idea why, and don't really care either. Banks work in mysterious ways :wink:
Don't worry about what people think, they don't do it very often

"Acquiring a dog may be the only opportunity a human ever has to choose a relative," Mordecai Siegal 1935-2010.

ericsbcn
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Re: changing status of Bank account to non-resident

Postby ericsbcn » Sun Nov 19, 2017 4:50 am

We have the BBVA online account and are non-residents. We opened it as non-residents. We've had it for about 3 1/2 years. We have never been charged any fee for any kind of non-resident certificate. In fact, we have never been charged fees of any kind for the account.

- Eric S.


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