What it taxes (and why the name scares people)
The exit tax or departure tax taxes the unrealized capital gains on your shares and holdings when you stop being a tax resident in Spain. In plain terms: the tax agency treats it as if you'd sold your holdings the day you moved and charges you on the unrealized gain —what they're worth minus what they cost you— even if you don't sell anything. Hence the scare: paying on a gain you don't actually have in your pocket yet.
The thresholds: the good news
This is the key point of the whole article. The exit tax only applies if you exceed certain thresholds:
| It kicks in if… | Threshold |
|---|---|
| The value of your shares/holdings exceeds | €4,000,000 |
| …or exceeds this amount with a >25% stake in an entity | €1,000,000 |
Below those figures, there's no exit tax. That's why the vast majority of people who move —digital nomads, retirees, freelancers, families— simply aren't affected. It's a tax designed for large business fortunes, not for someone moving to work remotely from Chiang Mai.
What it does NOT tax
- Your home: the exit tax is about shares and holdings. Your apartment is taxed through other channels when you sell it (or via non-resident tax if you rent it out).
- Crypto, generally, on its own: it has its own treatment —covered in the crypto guide— different from the exit tax.
- Cash and deposits: they aren't unrealized capital gains.
If it DOES affect you
For wealth that exceeds the thresholds, there are nuances only a specialist can handle: possible deferral of payment for certain moves, rules if you return to Spain within a given period, and the interaction with the double taxation treaty. This isn't territory for improvising or online tutorials: it's exactly the kind of case that needs careful planning.
Where Bexpat fits in
We don't calculate your exit tax: we handle the move —visa, flight, arrival and apartment—. A well-done exit starts with ending your tax residency in an orderly way, and continues with the visa that fits you.
Frequently asked questions
What is the exit tax?
A tax on the unrealized capital gains of your shares and holdings when you stop being a tax resident in Spain: it taxes the unrealized gain as if you sold on the day you moved.
Who does it affect?
Only large portfolios: shares/holdings worth more than €4M, or more than €1M with a stake above 25% in an entity. Below that, there's no exit tax.
Does it tax my home or my crypto?
No: it refers to shares and holdings. Homes and crypto are taxed through their own channels. Even so, it's worth confirming your specific case before moving.