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Number of multimillionaires on rise in Spain

Staff Writer |
In 2014, 508 people declared assets worth more than €30.05 million, according to data released by the Spanish Tax Agency.

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The figures show 8% growth from the previous year, representing 37 new members in the club of the super-rich.

Wealth tax statistics also show that taxpayers who declared assets of between €48,000 and €60,000 fell by 18%.

It is unclear whether this reduction means that some of them now have fewer assets, or whether they in fact have more and have moved up a tax bracket.

A total of 181,874 people filed wealth tax statements worth a combined €555.5 billion. Most of this combined wealth is accumulated in company stock and shares (€223.9 billion). Another €75 billion is kept in SICAVS, collective investment vehicles popular in Western Europe.

Wealthy Spaniards also admit to having a combined €53.8 billion in their bank accounts. They also possess real estate worth €99.5 billion, as well as billions more in insurance and other assets.

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