- 1). Check with your accountant or bank adviser to see if you owe taxes on your inheritance in Spain. Under Spanish law, those who inherit money or property in Spain are required to pay a gift tax. The Spanish government does not care if you are a resident of Spain or not. Because you inherited the money in Spain, you must pay the government. Depending on the inheritance amount, the tax can equal 7 to 34 percent of the total.
- 2). Gather your identification information to start the transfer. You will need your driver's license, bank account number for both your U.S. and Spanish bank, the routing number for your U.S. bank and your Social Security number. The bank in Spain will need to verify your identity before it transfers funds to your U.S. account.
- 3). Call or go to the bank in Spain that has your inheritance money and request a transfer. Give the Spanish bank the account number and routing number for the bank to which you'd like the inheritance transferred. International bank wire transfers take one business day and cost anywhere between $40 and $70. Direct transfers are the cheapest and most effective way of transferring sums between banks. Conversely, money orders have monetary limits on the amount you can send.
- 4). Check with your U.S. bank to see if they have received your inheritance money from Spain. The bank will convert your Spanish inheritance from euros to dollars, and some institutions charge a fee for this conversion.
EDITOR PICKS & Articles
- How to Make Creamy Caramel Icing
- Wine Goblets Guide
- No Harmful Chemicals & No Harming Animals - The Beauty of All Natural Skin Care
- Spirit India - Alcohol Beverages from India Are In Great Demand in US
- Sport - for a healthy life
- How to Shop at Kitson
- Watch Monday Night Football: New England Patriots vs New York Jets
- Brushed Back Hairstyles
- Oil-Free Non-Stick Everlasting Miracle Cookware
- Natural Skincare Products - What to Look For
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time
"Business & Finance" Categories
Advertising & Marketing Arts & Crafts Bankruptcy Blogging Biz Business Insurance Business News Careers Corporations Credit Debt Electronic Commerce Economics Entrepreneurship Finance Home Based Business Investing & Financial Markets Loans mortgage Outsourcing Personal Finance Renting & Real Estate Shopping Small Business Social Media Stocks-Mutual-Funds Taxes Wealth Building
Stay With Us