What is the ETE form? Obligation to declare to the Bank of Spain if you have certain capital movements abroad

Who must file the ETE form and what exactly must be declared?

Any individual or legal entity resident in Spain that holds assets and liabilities abroad and/or has carried out economic transactions with non-residents must file the ETE form, provided that the sum of these assets and liabilities or the sum of the transactions carried out exceeds EUR 1 million in the previous year.

The frequency of filing depends on the volume of transactions carried out in the previous calendar year, or the balance of assets and liabilities held abroad as of 31 December of the previous year, and may be annual, quarterly or monthly.

If the amount of transactions or balance of assets and liabilities in the previous year is less than EUR 1 million, there is no obligation to file Form ETE, unless the Banco de España expressly requires it.

In any case, if there is an obligation to file this declaration, all transactions carried out in the relevant period must be included, regardless of the individual amount of each transaction.

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