Your advantages with wealth tax in the Balearic Islands: The minimum tax-free allowance has been raised to 3 million euros, which means that investors within this limit remain tax-free. This also means a reduction in the tax burden for assets over 3 million euros. The wealth tax is due on December 31 and is based on the assets in Spain. Choosing the state table minimizes the tax burden, and strategies such as joint property investments, financing at the time of purchase and buying through foreign companies can further reduce the tax. Regardless of the change, we advise investors to always seek professional advice to maximize tax benefits and minimize potential tax consequences. We would be happy to put you in touch with our strong financial and tax advisors.