Concept
The Article 93 regime does not change the fact of Spanish tax residency, but rather the method of calculating IRPF. Therefore, for foreign assets it is important to distinguish between income tax, the informational declaration on foreign assets, and wealth tax.
The old public explanation that Modelo 720 must always be filed under the Beckham regime is incorrect. The Agencia Tributaria, in its guidance on Modelo 720, states that an individual under the special regime of Article 93 is not required to file this informational declaration on foreign assets, because the consequences of Modelo 720 are linked to taxpayers taxed on worldwide income, and this condition is not met for Article 93.
Family Members
The position on Modelo 720 does not automatically extend to the entire family. The Agencia Tributaria separately indicates that the regime for workers who have relocated to Spain does not extend to other family members by itself. If a spouse or children are Spanish tax residents and are not under the same regime, their obligation regarding foreign assets is assessed separately.
Wealth Tax
For wealth tax purposes, the Agencia Tributaria describes an Article 93 taxpayer as a resident of Spain who has chosen to calculate under IRNR rules and files the special declaration Modelo 151, but retains the status of an IRPF taxpayer. For wealth tax, such a taxpayer is taxed on a real obligation basis: only on property and rights located or enforceable in Spain.
The Agencia Tributaria also indicates the right to apply the regulations of the autonomous community of residence. If the taxpayer chooses regional rules, they apply in their entirety: one cannot take only a specific exemption or deduction outside the rest of the regional framework.
Practical Boundary
The Beckham regime is not a regime for confidential ownership of assets. Banks, brokers and tax agents still assess tax residency, source of funds, controlled structures, beneficial ownership, double taxation treaties and automatic exchange rules. The correct conclusion is made not by the name of the regime, but by the combination: who owns the asset, where the asset is located, who receives the income, where the source of income is and which family member is in which tax status.