Model 720 Informative declaration of property and assets located abroad

What is this model 720?

Informative declaration of property and assets located abroad.

Form 720 is an informative declaration of assets and rights held abroad. In other words, if you own shares, securities, accounts, or real estate overseas, you must file Form 720 every year.

Who is required to apply.

Mandatory to file model 720, those natural and legal persons resident in the territory of Spain,
permanent establishments in the specified territory by individuals or legal entities
non-resident persons and organizations, if the amount of any of the following groups exceeds 50.000 euros:

1. Have accounts in financial institutions located abroad.

2. Holdings of securities, rights, insurance, and income deposited, held, or received abroad.

3. Ownership of real estate and rights to real estate located abroad.

If each of the previous groups, during or at the end of the previous year, exceeded the amount of 50,000 euros, it is mandatory to submit the specified form.

An information declaration on assets and rights held abroad must be submitted
in the period from January 1 to March 31 of the financial year, for the previous year.

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