All EOS blogs All Spain blogs  Start your own blog Start your own blog 

How to save money in Spain

How to save money in Spain, and how to find ways to save money online. Saving money is something that we are all a bit interested in. Find out how you can stop losing money on foreign exchage and currency rates and save money on foreign exchange rates instead. Find out how you can save money by an expat financial review. Learn more about expat health insurance and how you can save money on every day living expenses in Spain. You may even be able to save money on tax, and make the most out of your UK pension

Financial Solutions for Ex-Pats in Spain
08 March 2019 @ 16:59

Financial solutions for British expats living in Spain are now more urgent than ever before. The UK government seems to have lost complete control of its Brexit exit strategy if they ever had one. Many expats have carried on hoping that everything will be alright, but now it looks less likely that “everything” will be alright. There is a precious little time to review your finances and put the best strategies in place to prevent potential financial problems.
What Are the Top Issues Expats Should Be Concerned About Before a No Deal Brexit?
Pensions are of course the biggest concerns to many expats. Your state pension is not likely to be affected but your private pension may be an issue. It is likely that your private pension may be subject to a 25% tax from HRMC. This is what happens to expats living outside of the EU now. British Expats in Spain may also find themselves to this rather hefty tax.
Health insurance could be another issue. The Spanish government seems to be extending an olive branch but you never know what is going to happen. If the UK government does not offer the same deal to Spanish expats living in the UK, things may change. It could be a good idea to take a look at the range of private health insurers which are available in Spain just to make sure that you have options available in case things go wrong.
Should you go offshore? Depending on how much money you have available, it may be a good idea to take a look at some of the deals offered by off-shore banks. Some off-shore banks have very reasonable investments level and can help you with everything from credit cards to travel insurance. Take stock of all your investments and money that you have in your bank accounts to create a complete picture of your position before you contact off-shore banks. A good option would be to incorporate a company in a location such as Gibraltar. 
Many expats are anxiously waiting to see what is going to happen. Maybe the best idea is to take some action and find out what you can do to help yourself to shore up your finances during this difficult and challenging financial period. 

Like 0


Only registered users can comment on this blog post. Please Sign In or Register now.


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x