Non-residents are taxed by obligacion real on Spanish assets, with a 700,000 euro minimo exento. A return is due where the tax payable after deductions is positive, or where the value of assets and rights exceeds the filing threshold even if no tax is payable. EU and EEA non-residents may opt to apply the autonomic rules of the Comunidad where the greatest value of their assets is situated, which can change the outcome considerably.
Where this comes from: art. 28 Ley 19/1991, BOE consolidated text, read 2026-09-07; Quienes estan obligados a presentar declaracion, AEAT sede electronica, read 2026-09-07; Exigibilidad del Impuesto sobre el Patrimonio, no residentes, AEAT sede electronica, read 2026-09-07.