Spain's exiled King Juan Carlos has set up a trust in the United Arab Emirates to ensure his daughters are provided for financially after his death. The inheritance will benefit the King's daughters Elena and Cristina but not his son, Felipe VI who is Spain's current monarch. The former monarch fled Spain for the UAE in 2020 after he was linked to an inquiry into alleged corruption.
READ MORE: Kate says she is 'focused on being cancer free' in new video But three investigations against the now 86-year-old were dropped in March , 2022. He has since paid back more than €5 million (approx. $8.
2m AUD) in back tax and penalties to regularise his status with Spain's treasury and allowing him to return periodically. READ MORE: Five hidden meanings in Kate's new family video According to a new report, Juan Carlos is now focused on providing for his two daughters when he dies. A source told El Confidencial that "officially, the former monarch does not have a single euro", adding that he borrowed money from family and friends to pay off his tax debts.
"However, sources close to the former head of state assure that he still has funds available," the report said. It added that in 2016, Juan Carlos "was involved in the sale of a luxury penthouse opposite Hyde Park in London, valued at €62.7 million (approx.
$102m AUD)". READ MORE: New Wales family video shows three children all grown up The newspaper claims the former monarch receives significant financial support from .