Hi
I’m from Spain and I have worked in Ireland for 8 years. Since the company I worked for closed at the end of December 2014, I was able to get another 2 year contract job with a different sister company until December 2016. After this contract ends, I however plan to move back to Spain permanently. I have an empty property there at the moment and would like to re-open a bank account in Spain and transfer most of my savings (about 60.000 €) to Spain to use it to refurbish the house, I need a new roof, heating system, insulation, new ground on the garden, which will cost more or less estimate about 45.000 €. I asked the bank in Spain and they told me that
because I’m registered as resident in Ireland, (my Spanish national ID card shows an Irish address) they can only open a foreign bank account for me which they explained has the only disadvantage of being a bit more expensive than if I was registered to live locally in Spain. Since I plan to move back in two years, not now but use the money to do the work in the next few months, do I have to inform the Irish tax office that I’m transferring some money in Spain and that I will open a bank account there to refurbish the house and plan to leave Ireland in late 2015 or early 2016 ?. A friend of mine who works in an accounting office as secretary she asked some accountants in her office and they told her that I should not worry about declaring anything
to the Irish tax system since I’m Spanish transferring money back to Spain and it would be different if I were a Irish citizen. Can someone confirm their views ?
Thanks indeed
Xavier
I’m from Spain and I have worked in Ireland for 8 years. Since the company I worked for closed at the end of December 2014, I was able to get another 2 year contract job with a different sister company until December 2016. After this contract ends, I however plan to move back to Spain permanently. I have an empty property there at the moment and would like to re-open a bank account in Spain and transfer most of my savings (about 60.000 €) to Spain to use it to refurbish the house, I need a new roof, heating system, insulation, new ground on the garden, which will cost more or less estimate about 45.000 €. I asked the bank in Spain and they told me that
because I’m registered as resident in Ireland, (my Spanish national ID card shows an Irish address) they can only open a foreign bank account for me which they explained has the only disadvantage of being a bit more expensive than if I was registered to live locally in Spain. Since I plan to move back in two years, not now but use the money to do the work in the next few months, do I have to inform the Irish tax office that I’m transferring some money in Spain and that I will open a bank account there to refurbish the house and plan to leave Ireland in late 2015 or early 2016 ?. A friend of mine who works in an accounting office as secretary she asked some accountants in her office and they told her that I should not worry about declaring anything
to the Irish tax system since I’m Spanish transferring money back to Spain and it would be different if I were a Irish citizen. Can someone confirm their views ?
Thanks indeed
Xavier