A new tax-friendly investment account, known as the “Financia Europa” account, is currently in limbo while banks wait for the government to give the final go-ahead.
- Back from the dead: The proposal was rejected by Congress last week but was quickly reintroduced by the government just days later.
- EU pressure: European officials have been pushing Spain to create this specific type of investment vehicle for months.
- Waiting on the Treasury: The banking sector is ready to launch, but they need a formal ministerial order from the Treasury to get started.
- No set date: Unfortunately, there is currently no official timeline for when these instructions will be released.
Until the Treasury acts, the accounts remain unavailable to the public.