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The client, with a net worth above €8 million, mistakenly believed that registering in Madrid would exempt him from wealth tax in Spain.
We explained that since 2022, a separate national Solidarity Tax on Large Fortunes applies across all of Spain regardless of regional rebates, at rates from 1.7% to 3.5%. We recalculated his total tax exposure and proposed a combined structure: part of the assets and the holding’s tax residency in Andorra, while the client himself kept his Spanish residency for family life.
Result: the legal restructuring cut his annual wealth tax bill several times over, without relocating the whole family out of Barcelona.
The takeaway: since 2022, choosing a Spanish region no longer shelters you from wealth tax — real savings require an international structure, not just an internal one.
