The “king emeritus” abdicated in 2014 and later left Spain altogether amid allegations of corruption and tax offences, residing now in Abu Dhabi.

His €4 million payment to the Spanish tax authority, covering up to €8 million he received in payments in kind, follows a €680,000 payment he made in December, El País reports.

A team of four prosecutors are working on three separate investigations into Juan Carlos I, but he is apparently optimistic that he will be spared any trial.

His lawyers argue that he has immunity from prosecution for alleged offences that took place while he was the king, that he is regularising his debts and that a third case is baseless.