Money as a Gift

Information and questions about the Law in Spain and Andalucia.
Unicorn
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Money as a Gift

Postby Unicorn » Fri Mar 24, 2017 7:42 pm

Does anyone know if a non-resident person can give a gift of money to a resident, or the other way round and does it make a difference in the relationship of the parties?

HarryJ
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Re: Money as a Gift

Postby HarryJ » Fri Mar 24, 2017 8:33 pm

I would imagine it would depend on what sum this "gift" amounts to and method of transaction.

elusive
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Re: Money as a Gift

Postby elusive » Fri Mar 24, 2017 9:34 pm

You can but there maybe gift tax consequences. If the person who is getting the gift is a spanish resident or the money is coming from a spanish resident.

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costakid
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Re: Money as a Gift

Postby costakid » Sat Mar 25, 2017 10:41 am

Would it not be same as inheritance tax, the relationship to the person gifting depends on the percentage of tax due? I guess your talking substantial amounts of money, not just a few 100 euros.

El Cid
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Re: Money as a Gift

Postby El Cid » Sat Mar 25, 2017 10:54 am

Gift tax is almost the same as IHT but there are fewer special allowances.

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