Why OneLife

  1. Flexibility to suit many specific needs from inheritance planning to asset protection
  2. Cross-border expertise for tax-efficient relocation
  3. Stability and security of a contract issued by a Luxembourg insurer
  4. Dedicated Spanish market experts designing compliant and customised solutions
  5. OneLife presence in Luxembourg for more than 25 years


Market insights

Located in the South of Europe, Spain has become an attractive destination for wealthy individuals coming from the rest of Europe and beyond. However, Spain has one of the most complex tax systems in Europe with respect to Wealth, Inheritance and Gift tax as each Autonomous Region has broad powers to adopt tax measures in this regard. In parallel to that and with the sole exception of a few Autonomous Regions, the effective taxation tends to be quite high in case of wealth, inheritance or gift tax for wealthy families living in Spain.

In this context, the solutions provided by OneLife in the Spanish market can help wealthy individuals in mitigating the impact of wealth, inheritance and gift tax in full compliance with local Spanish tax rules. In addition, the solutions provided by OneLife allow for a broad range of investments to choose from, accommodating all investor profiles, and allowing for optimal diversification within a single life insurance contract.    


Wealth Spain

A unit-linked Luxembourg insurance product governed by Spanish law offering a high degree of flexibility and diversification. It is a policy which can be surrendered or pledged at any time. The product allows the policyholder to access a wide range of asset classes (i.e. from UCITS funds to Hedge Funds and Private Equity) denominated in EUR or any foreign currency, and which will be managed under a pre-defined investment strategy, designed by an external asset manager, and chosen by the policyholder. Under certain circumstances, notably, if the underlying assets comprise only UCITS funds, the policyholder may be granted the power to choose directly and perform switches between those funds.

You will find below the main tax features of Wealth Spain for a Spanish resident policyholder:

  • Full tax deferral during the life of the policy
  • Savings Income tax (marginal tax rate of 23%) will apply in case any gains are realised upon withdrawal/surrender of the policy
  • Possibility to defer the Spanish Inheritance and Gift tax liability subject to certain conditions
  • Possibility to mitigate the Wealth tax impact

=> Consult our dedicated factsheet


Unlisted assets

At OneLife, we offer comprehensive solutions for wealth management including the acceptance of unlisted assets, supported by Luxembourg’s insurance regulation that allows a large range of underlying investments in internal funds.
For many wealthy individuals, a significant part of their total wealth comprises unlisted assets which can be categorised into shares, debt instruments (including Securitisation vehicles), as well as Private Equity funds and Real Estate in multiple jurisdictions.

Our specialised Unlisted Assets Team has extensive experience in this sector and is able to manage these types of assets taking into account various aspects such as valuation, legal, compliance, governance, etc.

We ensure that the proposed solution is best suited to our client’s needs.

The Unlisted Assets Team also performs on-going monitoring and due diligence of the assets to ensure the investments remain compliant and suitable over time. This includes reviewing the price of the asset in accordance with market conditions and any changes within the unlisted company.


Contact our Spanish team 

Contact our Spanish team via our designated contact form or via phone (from Spain): 900953529