# Moving to Murcia region 2019



## vikingred (Jan 5, 2019)

Hi everyone... My wife and I are currently living in Norway and have just purchased a villa in Murcia region of Spain. The plan is to sell up in Norway and take an early retirement, maybe with a view to finding some part time work in the future if we get bored.
I am originally from the UK and my wife is from Sweden and both in our early 50s. Not wealthy by any stretch, but had enough to buy a lovely home outright and hopefully enough savings/investments to see us through until Mr Reaper comes a knocking...lol

I have been reading this fantastic forum for a while now and felt ready to join. A big thank you to everyone who has posted all the fab information that has been so helpful to my wife and I.

It seems that many peoples' first posts come with a few questions and I wish to continue in that trend. 

1 - I have a single malt whiskey collection and wondered if I would be able to take this with me to Spain. Around 25 bottles, all opened but quite expensive. Will there be a large duty to pay, as of course I would have to declare them? If it will be a big problem then I guess I will just have to drink them up. Goodbye liver...

2 - Money/transfers of savings - I have opened a Spanish bank account and all seems ok with transfers and payments so far. My main question here is, if I transferred savings of 200k in Euros to our joint account - which is the maximum guaranteed for a joint account in Spain - would I be liable to any tax on this? This is money that I've paid taxes on already in Norway. What have others done when transferring larger sums from their home Country? 

3 - New Corvera Airport - Does anyone have any updates on the flight paths that planes will be using to land and take-off. I'm just curious to see if any urbanisations within a 10 mile radius will be adversely affected? I have tried to find updated information but without luck.

Thanks again for this wonderful forum and sorry if my questions are a bit random as I have tried to search for as many answers as possible, and there have certainly been many.

Best regards...


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## Lynn R (Feb 21, 2014)

I can only answer no. 2 - you won't pay tax on a lump sum you have in the bank (unless you and your wife are over the threshold for Spanish wealth tax which I believe is around €700k each), but you will be taxed on any interest you receive on it. If you leave assets worth €50k or more in any one asset class (cash in the bank, investments, property, etc.) in Sweden, you must submit a Modelo 720 declaration of overseas assets in Spain (and declare any income received from them on your annual tax return).

https://www.blevinsfranks.com/news/articles/spain-wealth-tax-rates-and-allowances


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## vikingred (Jan 5, 2019)

Lynn R said:


> I can only answer no. 2 - you won't pay tax on a lump sum you have in the bank (unless you and your wife are over the threshold for Spanish wealth tax which I believe is around €700k each), but you will be taxed on any interest you receive on it. If you leave assets worth €50k or more in any one asset class (cash in the bank, investments, property, etc.) in Sweden, you must submit a Modelo 720 declaration of overseas assets in Spain (and declare any income received from them on your annual tax return).
> 
> 
> 
> Thank you so much for the quick reply Lynn and for taking the time to post a link...very helpful.:


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