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Do i have to supply all the information of my UK bank accounts when applying for a NLV. Is it safe to give your bank account details to a third party. We are currently talking to a administration service in Spain who is giving advise on "How to apply for a NLV " and im sure at some stage they may ask about our savings in our UK accounts??
Yes. When you eventually move to Spain, you have to complete a statement of foreign investments on a form 720. You will have to provide every last detail of any account you have including who it's with, how much, when it was opened as well as an details of where any income comes from.
Nothing will be sacred and your solicitors, hacienda and Uncle Tom Cobley and all will know all your details. You even, sometimes, have to prove to your bank the source of your income especially from overseas.
Posted: Wed May 14, 2025 12:06pm
Helpful member
If you think back to the days when we all used cheque books - all of your bank account details were in there, and some bank debit cards also show account details. The bank account details should not be sufficient for any unscrupulous person to access your account
marcliff wrote on Wed May 14, 2025 8:17am:
Yes. When you eventually move to Spain, you have to complete a statement of foreign investments on a form 720. You will have to provide every last detail of any account you have including who it's with, how much, when it was opened as well as an details of where any income comes from.
Nothing will be sacred and your solicitors, hacienda and Uncle Tom Cobley and all will know all your details. You even, sometimes, have to prove to your bank the source of your income especially from overseas. ...
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Do UK current bank accounts which DO NOT earn any interest have to be declared on the Modelo 720 or is it just accounts which generate an income please??
DOUGT50 wrote on Fri May 23, 2025 7:39am:
Do UK current bank accounts which DO NOT earn any interest have to be declared on the Modelo 720 or is it just accounts which generate an income please??
ALL bank accounts have to be declared, all the details including names, addresses, account numbers, balance and dates opened etc have to be declared. Any income whatsoever need to be added to the Modelo 720 otherwise big fines are issued.......
Steve
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