Expat Spain News

Latest 10 news items tagged Spain

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...
15 Jul at 6 PM 2014

Number of Britons living overseas soars to over five million

According to a report by the United Nations, well over five million British citizens have emigrated for reasons of work, retirement or general dissatisfaction with the state of their home country. Since 1990, the number of British-born migrants has increased by 23 per cent, with the majority of those leaving heading for sunnier climes. Australia is the all-time favourite destination, now home to some 1.27 million former British residents. America is the next most popular place for immigration, with 758,919 Brits in residence, and...
10 Jul at 6 PM 2014

British exodus from Spain replaced by Russian incomers

Changes in the Spanish tax regime have sent thousands of British expats scurrying back to the UK, only to be replaced by hordes of emigrating Russians. According to the Spanish National Institute of Statistics, the total number of foreigners resident in Spain dropped by an impressive half a million last year, firmly establishing the returnee trend. The massive reduction isn’t all down to emigration, as almost half a million expats gained Spanish citizenship in 2013. However, it’s obvious to businesses serving the UK expat...
3 Jul at 6 PM 2014

British expats exiting Spain due to overseas assets declaration law

Although life in the UK is undoubtedly harder and more expensive than when they left, 2013’s trickle of Brits leaving Spain has turned into a flood. Since last year’s new law made it compulsory for expats to declare all their overseas assets, the size of the British expat community in Spain has decreased by 23 per cent, with German and French diasporas reducing their communities by 23 and 12 per cent respectively. According to returning Brits, no-one trusts the Spanish tax agency, and many more are simply failing to register and...
30 Jun at 6 PM 2014

Most expensive and cheapest places to live in Europe

Cost of living considerations are one of the most important aspects of deciding on the perfect place to live outside your home country. Whether you’re moving overseas for work or retirement, balancing the cost of living in your chosen country with your financial status is essential, and doesn’t necessarily rest on average prices experienced whilst on holiday. In spite of the single European market place, everyday costs vary country to country and even between conurbations and rural regions. Most surveys focus on specific wealth...
25 Jun at 6 PM 2014

Are Thai coastal resorts becoming the Costa del Crime of Southeast Asia

British expats may well remember that, back in the day, Spain’s Costas were the destination of choice for the UK’s most-wanted criminals, including the infamous Great Train Robbers and various East End mafia dons. Apparently, a dodgy UK passport and an offshore bank account stuffed with ill-gotten gains was all that was needed to escape being ‘banged up’ for at least several decades. The advent of modern technology and the European Union put paid to such shenanigans, with many notorious villains ending up with a forced holiday...
18 Jun at 6 PM 2014

Action group for Costa del Sol expats ripped off by FAs

Expat investors living in Spain’s popular Costa del Sol started their own action group in 2008 after losing millions to unregistered, unregulated financial advisors targeting the mostly retirement communities. Six years later, the main aim of the group remains the same: the outing of unlicensed, unpricipled FAs mis-selling unsuitable products to the unwary and backed up by the offshore product providers themselves. The group’s online magazine, entitled ‘The Sharks Exposed’, details the total lack of protection for expat...
13 Jun at 6 PM 2014

Expats warned to protect their savings as boiler room scammers are jailed

The two masterminds behind one of the biggest ever boiler room scams have been jailed for ripping off £millions from unwary investors. Jeffrey Revell-Reade and Anthony May were found guilty in a London court of conspiracy to defraud over a thousand investors. The total sum lost was estimated at around 70 million sterling, and sentences of eight and seven years respectively were handed down by the judge. The pair, based in Spain, ran a team of telephone salesmen targeting British pensioners using high-pressure sales techniques....
6 Jun at 6 PM 2014

Overseas retirement havens too expensive for UK expats

Retiring overseas has been the dream of many UK citizens, worked for and saved for over many years, but inflation in favourite destinations is now killing the reality for many. Experts are reporting that buying a property overseas and living the good life in retirement is no longer possible for the average British couple due to rapid rises in the cost of living abroad. Specialist relocation companies are now branding expat life as a luxury rather than an affordable reward for a lifetime’s work. The majority of favourite European...
5 Jun at 6 PM 2014

Does learning Spanish lessen the risk of expat dementia

Learning the language of your chosen retirement destination is a real challenge for many newly-arrived expats, but keeping at it could mean your brain stays young over the years to come. Recent research by a team at Edinburgh University has revealed that becoming reasonably proficient in an unfamiliar language is one of the best ways to avoid the brain’s ageing process. Surprisingly, the study revealed it didn’t matter whether a new language was studied early or late in life – the benefits remained the same. The 262...