Inheritance Tax of Non-Residents – Non-resident heirs who receive by inheritance shares of foreign entities that are deposited in offices of financial entities located in Spain are taxed by the Inheritance Tax

According to the criterion of the General Tax Direction published through the tax ruling V1405-16, date 06/04/2016, a non-resident individual is a taxable person for the Spanish Inheritance Tax purposes if the heritage includes not only (i) securities and shares issued by Spanish entities  but also (ii) those issued by foreign entities which are deposited in offices of banks and other financial entities located in Spain, regardless of whether they are listed in different markets in other countries than Spain.

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