Impuesto sobre el Patrimonio (no residentes)

Non-residents are taxed in Spain under 'real obligation': only on assets located in Spanish territory, essentially their properties, minus the debts attached to them — a mortgage on the Spanish home reduces the base. The state exempt minimum is €700,000 per holder (a couple buying 50/50 doubles the threshold), and the main-home allowance does not apply to non-residents, as the property is not their residence. Since 2021 non-residents may opt for the rules of the region where their assets lie; comparing pays off, because some regions apply generous relief while others, like the Valencian Community, set a lower exempt minimum. Above 3 million euros the Solidarity Tax on Large Fortunes also applies. It is declared with form 714.