What is the Beckham Law in Spain?
The Beckham Law allows new residents to pay a flat rate of 24% on Spanish income (up to 600,000 EUR) for 6 years, instead of the progressive scale up to 47%.
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Tax Exile Guide for Crypto: Spain
Complete step-by-step procedure to transfer your tax residence to Spain. Crypto tax rate: 19-28%.
Overview
Crypto tax rate
19-28%
Crypto-friendly score
★★☆☆☆
Cost of living
Moderate
Banking ease
Easy
Regulation
Strict
Preparation time
2-4 months
Step 1: Preparation for Departure
A tax relocation to Spain requires 2-4 months of preparation. Here are the essential steps before leaving.
1
Check your passport validity (minimum 6 months)
2
Gather all financial documents (bank statements, crypto history)
3
Notify your tax authority of your planned departure
4
Obtain a NIE (foreigner identification number in Spain)
5
Take out international health insurance
6
Prepare to open a local bank account
Step 2: Exit Tax
Some countries apply an exit tax on unrealised capital gains. Check whether your country of origin is affected.
Spain applies an exit tax on latent capital gains exceeding 4,000,000 EUR (or holding >25% in a company worth >1M EUR). The tax is 19-28% depending on the amount.
⚠️ Warning: your country of origin may apply an exit tax. Consult a tax adviser.
Step 3: Visa & Residence
Choosing the right visa is essential for your tax relocation to Spain. Here are the main visa options available.
View the Spain visa guide on eVisa-Card.com →
Read the detailed guide on eVisa-Card.com: visa types, fees, processing times and procedures for Spain.
Step 4: Banking & Finance
Opening a bank account in Spain is a crucial step. Here are the recommended banks and the procedure.
Recommended banks
- 🏦 Santander
- 🏦 BBVA
- 🏦 CaixaBank
- 🏦 Sabadell
- 🏦 Openbank
Required documents
- 📄 Valid passport
- 📄 NIE certificate (foreigner identification number)
- 📄 Proof of local address
- 📄 Proof of regular income
Account opening time : 1-3 weeks
Santander, BBVA, CaixaBank and neo-banks (N26, Revolut) are available. Account opening requires a NIE (Numero de Identidad de Extranjero). Spanish banks are relatively open to international clients.
Step 5: Transferring Your Cryptocurrencies
Transferring your crypto assets to Spain requires compliance with local regulations. Here is the procedure.
Exchanges available in Spain
Bit2MeBitstampBinanceKraken
Regulator : CNMV (Comisión Nacional del Mercado de Valores)
Transfer steps
1.
Verify that your exchange is authorised in the destination country
2.
Check CNMV (National Securities Market Commission, Spain) compliance
3.
Transfer via an EU-regulated exchange (MiCA)
4.
File Modelo 720 (foreign assets > 50,000 EUR, Spain)
The CNMV and Banco de Espana regulate cryptocurrencies. Exchanges must be registered. The Modelo 721 requires declaring crypto held abroad if the value exceeds 50,000 EUR. The European MiCA framework applies.
Step 6: Settlement & Daily Life
Settling in Spain: what you need to know for your daily life.
Spain offers an excellent climate and renowned quality of life. Barcelona and Madrid are dynamic tech hubs. The cost of living is moderate outside major cities. The Beckham Law can be very advantageous for qualified new residents.
Step 7: Tax Compliance in Spain
Your tax obligations in Spain after settling.
Filing deadline
30 juin
Forms to complete
Modelo 100 (IRPF)
Modelo 720 (biens étrangers)
Modelo 721 (cryptos à l'étranger)
Obligations
✓
Progressive taxation from 19% to 28% depending on brackets
✓
Exit tax applicable if latent capital gains > 4,000,000 EUR
✓
File an annual tax return
✓
Declare all worldwide assets
Spain taxes crypto capital gains from 19% to 28% depending on brackets. The Beckham Law offers a flat rate of 24% for 6 years for new residents. The Modelo 100 (annual return) and Modelo 721 (crypto >50k EUR abroad) are mandatory.
Estimated monthly cost of living
| Studio/1-bedroom rent | 600-1 200 EUR/month |
| Family rent (3 bedrooms) | 1 000-2 200 EUR/month |
| Utilities (water, electricity, internet) | 100-200 EUR/month |
| Food | 300-500 EUR/month |
| Transport | 50-100 EUR/month |
| Health insurance | 50-150 EUR/month |
| Estimated monthly budget | 1 100 - 4 400 EUR/month |
Pros & Cons
Pros
- ✓Beckham Law available
- ✓EU member
- ✓Quality of life
Cons
- ✗High tax rate
- ✗Exit tax applicable
- ✗Modelo 720 obligation
Frequently Asked Questions
How are crypto taxed in Spain?
Crypto capital gains are taxed from 19% (up to 6,000 EUR) to 28% (above 300,000 EUR). Crypto-to-crypto exchanges are taxable, unlike in France.
Do you need to declare crypto held abroad?
Yes, the Modelo 721 requires declaring cryptocurrencies held on foreign platforms if the total value exceeds 50,000 EUR as of 31 December.
Does the Spanish exit tax apply to crypto?
The exit tax applies if your latent capital gains exceed 4,000,000 EUR. It primarily targets company holdings but may apply to large crypto portfolios.
What is the cost of living in Barcelona?
Barcelona is moderately expensive: 1,800-4,000 EUR/month all-inclusive. An apartment costs 900-2,000 EUR/month. Valencia and Malaga are 30-40% cheaper.
⚠️ Disclaimer
This guide is provided for informational purposes only and does not constitute tax, legal, or financial advice. Laws and regulations change regularly. Consult a qualified professional before making any decision regarding tax relocation.
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