King Juan Carlos: tax residence in Abu Dhabi and enigmatic future inheritance

• Casa Real The Treasury inspectors see the change of tax residence of Juan Carlos I as feasible without the need for Emirati nationality

• Dates King Juan Carlos: birthday surrounded by friends and family in Abu Dhabi due to the stubbornness of Sánchez

• Royal House King Juan Carlos receives in Abu Dhabi the visit of his two daughters and some of his grandchildren

The decision of King Juan Carlos to initiate the

to transfer his tax residence to Abu Dhabi, news that was exclusively announced by EL MUNDO, has caused

It is a gesture with which, on the one hand, the Emeritus has come to confirm his

But, above all,

, since it is very unaesthetic that the person who has been Head of State for almost 40 years is going to

The United Arab Emirates is not considered a tax haven by the Spanish Treasury.

The need for the Sánchez government to build bridges with the emirs of the Gulf and to seek new business channels, as the president himself stressed on his trip to the Dubai Expo last year, is behind this type of movement by the Department that he directs Maria Jesus Montero.

But experts stress that the

And Don Juan Carlos is going to benefit greatly by staying

and being able to enjoy the

Experts consulted by LOC maintain that the decision of Don Felipe's father, absolutely legal, raises many questions and in very different aspects.

And

In 2015, a European Inheritance Regulation came into force by which the

as the main criterion to determine the applicable law in everything related to

successions .

, but since August 2020 he has established his residence in Abu Dhabi.

What seemed temporary was confirmed as permanent last year when

in which Don Juan Carlos stated to his son his intention

where I have found peace of mind, especially for this period of my life".

Until now, in accordance with the tax regulations against tax evasion and double taxation, the Emeritus has had to continue submitting his annual personal income tax returns in Spain.

But time has passed and the former monarch would have even

as published by various media at the beginning of this 2023, news that has not been officially confirmed.

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Don Juan Carlos.

The place of King Emeritus is neither there nor expected in Spain

• Writing: EDUARDO ÁLVAREZ

The place of King Emeritus is neither there nor expected in Spain

In his current situation, King Juan Carlos has the power to decide, and to act accordingly, if he wishes to rely on Spanish Law when making a will -through the

in his favor- or if he opts for the

.

Until 2021, the latter would have meant the acceptance of rules based on

that, among other things, allow

But that year Abu Dhabi passed new rules regulating divorce, inheritance and child custody for non-Muslims residing in the UAE capital.

Don Juan Carlos with his daughters and grandchildren in Abu Dhabi. Redes

The experts consulted by this supplement maintain that the decision of the Emeritus to remain in Abu Dhabi and become a tax resident of the Gulf can also help him to

, since he can develop the most convenient

to leave tomorrow to their heirs a patrimony that will not bring them

mysterious heritage

The patrimony of Juan Carlos I is a huge mystery

.

There is no Crown Law nor are members of the Royal Family - of which the Emeritus continues to be a part - obliged to make a declaration of assets and patrimonial rights.

So it

In recent years, he has been involved in an

that he would have received throughout his reign from benefactors such as the

- the 65 million euros that he in turn donated to Corinna Larsen are the epicenter of the scandal.

Now, in fact, as the specialists emphasize,

-or simulations of- adjusted in Law to the rules of your new tax residence, which is also linked to your future inheritance.

Last April, Felipe VI, in an exercise of transparency, made public his personal assets, valued at more than 2.5 million euros.

Don Juan Carlos could have a much higher amount of savings just for all the years that he has been Head of State, in which he received an

through the General Budgets.

However, when in February 2021 he had to face a second regularization before the Treasury, worth almost 4.4 million euros, corresponding to the income derived from the assumption, by the Zagatka Foundation, of certain expenses for travel and services, his lawyers informed the Treasury of the difficulties of the Emeritus to raise the amount and an operation was launched for which a dozen business friends

.

King Emeritus, last Saturday in Riyadh, where he enjoyed Formula E.Redes

This same week the

was questioned again with the news advanced by

that the price of legal assistance from its lawyers during the appeal hearing in London of the case opened by Corinna rose no less than at

.

It is assumed that

.

In March 2020, through a statement, Felipe VI made public his resignation to "any asset, investment or financial structure whose origin or purpose may not be in accordance with the law or with the criteria of rectitude and integrity that govern its institutional and private activity and that must inform the activity of the Crown".

However, specialists remember that

.

This matter, therefore, will be a very delicate matter at the time that will require absolute

.

As for the Infantas, Doña Cristina has been a

for many years, so she

which would correspond to Doña Elena, who would be

In any case, it does not seem very risky to conclude that

of each of the assets and rights of Don Juan Carlos according to the testamentary provisions that he makes.

It seems that in due course situations such as the one experienced after the

, ​​in 1993, will be repeated. In his inheritance, the father of the current Emeritus left his three children real estate and sums in accounts in two Swiss entities that In total they amounted to 1,100 million of the old pesetas, as EL MUNDO was able to reveal in a great exclusive.

The

for his father's inheritance were paid into an account in that of the Societé Generale Alsacienne.

And, as reported at the time by the Casa del Rey, they were spent to meet the debts and obligations of the Counts of Barcelona.

Of course, Zarzuela also maintained that this controversial account was canceled before 1995 and that, after its closure, the still monarch had not had any accounts abroad again.

It would not take long for it to be known that

and for the most convulsive period for the Spanish Monarchy to begin.

A

hopefully it doesn't end up being another terrible Pandora's box for the Crown.

According to the criteria of The Trust Project

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• Juan Carlos I