Expat Spain News

Latest 10 news items tagged Spain

8 Sep at 6 PM 2014

Expats in Spain looking to face LMIM and Axiom crooks in court

Expat victims of two massive investment scams, LMIM and Axiom, are targeting the product providers and salesmen whose greed has resulted in the loss of millions-worth of retirement savings. Rogue FAs operating in Spain as well as the product providers themselves are to be named and shamed in court actions. Groups representing the victims of both Ponzi schemes are requesting that the estimated thousands of other victims join in the fight for justice. The LM Investor Victim Centre (LMIVC) has representatives in Spain already working...
21 Aug at 6 PM 2014

Expats who lost homes during Marbella blaze still awaiting compensation

Expat victims of the devastating fire which razed part of Marbella and Mijas in 2012 are still waiting for compensation from the Spanish authorities. Although the region is finally returning to its full glory after three years, victims who lost their homes and possessions during the massive blaze are still waiting for the promised €14,500 emergency compensation intended to allow them to get on with their lives. The vast majority have not yet received any payments and are living in limbo. One UK expat, a resident in the area for 13...
18 Aug at 6 PM 2014

Santander hitting out at expat accounts again

Following the recent news that British high street bank Santander is busily cancelling its expat customers’ debit cards, its action in blocking one expat’s easy access offshore account seems even more prejudicial. It seems that expats, particularly in Spain, are being targeted by the bank in a stealthy attempt to have them take their business elsewhere. In spite of the fact that expat options as regards offshore banks are limited, the high street bank is making its intentions clearer by the day. Many expats now living in EU...
14 Aug at 6 PM 2014

Are UK expats giving up on La Dolce Vita

Since the heady days of the 1930s, Rome and Italy have been favourites for expats searching for history, beauty and fantastic food and wine. Living the dream in an Italian coastal resort or the wine regions of Tuscany has been the ambition of many Brits as they approach retirement age. Many have made the dream come true, but is it fading due to the effects of the 2008 financial crisis? Italy is now in its third recession since 2008, with its GDP falling, unemployment still on the rise and net trade sliding further into negative...
11 Aug at 6 PM 2014

Expat residents in Cyprus investigated for UK benefit fraud

Following the revelation that a large number of expats all over the world are cheating on UK welfare payments, investigations are now involving over 100 Brits in Cyprus It seems that UK expats living in the Mediterranean’s favourite lifestyle hubs are taking advantage of welfare benefits to which they are not entitled. According to the Department of Work and Pensions, benefit fraud is costing the UK some £82 million every year. The latest expat destination to be investigated is Cyprus, with 126 Britons now being asked...
8 Aug at 6 PM 2014

Do retirement dreams fade after second thoughts kick in

Survey after survey indicates that an increasing number of Brits can’t wait to retire overseas, but second thoughts later in life can wreck the dream. One recent study revealed that around six million British citizens are eager to move to other countries for a variety of reasons. However, many are younger people who find that, the older they get, the less they can face up to the challenges involved. In the real world, retirement overseas has its pitfalls, most of which can be avoided by careful planning and a large dose of...
6 Aug at 6 PM 2014

Costa del Sol Action Group protects expats against financial scams

As the financial chaos following the 2008 crash recedes, the focus is on expats living in retirement hubs overseas and suffering devastating losses via illegal salesmen touting Ponzi schemes and dodgy bonds. One fact that newly-arrived expats in favourite retirement destinations often fail to take on board is that ‘it’s not the UK/USA’, especially as regards consumer protection legislation. From electrical appliances which fail after a month or so to different methods of construction, there’s a world of new experiences waiting...
6 Aug at 6 PM 2014

Annual report shows increase in expats and tourists needing passport assistance

The number of Britons living or visiting overseas who needed passport help during 2013 rose by around eight per cent, not taking into account the huge number of people affected by the massive passport processing backlog. The passport backlog itself caused the worst crisis for the British passport office in decades, with hundreds of thousands of unfulfilled applications stacked in boxes awaiting processing. Waiting times of up to and over four months caused ruined holidays, missed family occasions and disrupted business trips....
29 Jul at 6 PM 2014

UK government inquiry told EU wide misselling redress needed

As complaints against the mis-selling of financial products soars across European states, a UK Parliamentary enquiry has been advised that an EU-wide mechanism for consumer redress is badly needed. Although EU law on consumer protection has been updated since the 2008 crash, redress for consumers with mis-sold financial products has remained the responsibility of separate member states. At the present time, the UK Financial Ombudsman is handling a massive number of claims relating to both banks and FA firms accused of ignoring due...
28 Jul at 6 PM 2014

HMRC issues third highest QROPS mass suspension since April 2006

The 15 July official QROPS list published by the UK’s HMRC has suspended a total of 118 Qualified Recognised Overseas Pension Schemes (QROPS). The mass cull is the third largest since the scheme itself was introduced in April 2006, and includes 99 Australian QROPS, one from Mauritius, 15 from India and two from Canada. The tax authority declines to explain the reasons for its decisions, but suspensions can be the result of pensions no longer qualifying for inclusion, tax abuse, single member schemes losing members or reviews of a...