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Spain’s king Felipe VI has renounced the inheritance from his father Juan Carlos​, whose royal income he has also decided to withdraw, after the Swiss money scandal and the fact that the current monarch appears as the second beneficiary of one of the accounts of an offshore foundation. 

"Felipe VI renounces the inheritance that may correspond to him personally, as well as any asset, investment or financial structure whose origin, characteristics or purpose may not be in accordance with the law or with the criteria of rectitude and integrity that govern his institutional and private activity," the Royal House has stated.

Here is the full statement issued by the Spanish Royal House (in Spanish):


Furthermore, the Spanish head of state has decided to withdraw from his father the salary he enjoys from the King's Household budgets.

This decision comes after it was learned that Felipe VI is the second beneficiary of an offshore foundation: Lucum foundation. This foundation appears as the holder of the account opened in Swiss private bank Mirabaud, where an alleged donation of 65 million euros from Saudi Arabia to his father, Juan Carlos I, was deposited, according to British newspaper 'The Telegraph'.

According to ‘The Telegraph’, Felipe VI is the second beneficiary in the Lucum foundation statutes. The second beneficiary “must support the rest of the Royal Family during his lifetime" and "satisfy" any "reasonable request" made by his mother, sisters or children.

The Spanish parliament refused to investigate former king Juan Carlos’s activities, which Swiss prosecutors are now looking into. Among these activities, the alleged 100 million dollar donation he received from the king of Saudi Arabia in a Swiss account, and the apparent subsequent donation by Juan Carlos himself to Corinna Larsen in 2012. The Spanish Socialists (PSOE) teamed up with conservative PP and far-right Vox at the parliament board to refuse the mere possibility of creating a parliamentary commission on this subject.​

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