Hi everyone, I need some clarification please. Myself and my partner (not married) are hoping to move soon. Do we need separate bank accounts or can I have one just in my own name, as proof of adequate funds.
Also, regarding residency but just renting long term, with approx €130,000 between us, are we taxed separately or together.
Many thanks in advance for any information 🙂
Alexandra
You can have separate or a joint A/C it doesn't matter because you are liable for tax based on income not what you have in the bank.
'Partner' is a has no real meaning in law so how you would personally be treated as a pair I couldn't say however married couples can opt to be taxed individually or as a couple depending on how the two calculations work out.
Posted: Wed Jan 22, 2020 5:19pm
Legendary helpful member
It would be easier to have a joint account, as with that level of a bank balance you could both apply for residency individually. If the account is in only your name, then your partner would have problems in qualifying for residency. At the very least you'd have to formalise the partnership by registering as a 'parecha de hecho'.
When you do tax returns, my first reaction is that, as you're not married, you'd have to do individual returns. That's because the tax system doesn't have a facility to cope with even registered unmarried couples.
Marry the girl and make life easier! That would also make things a lot easier re inheritance when one of you dies.
Posted: Wed Jan 22, 2020 5:37pm
Hi Jim thanks for the reply. I'm laughing here. I'm the girl, never getting married again, and it's my money 😂
Ali2 wrote on Wed Jan 22, 2020 5:37pm:
Hi Jim thanks for the reply. I'm laughing here. I'm the girl, never getting married again, and it's my money 😂
😀👍
LeckyLes
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