According to the research, many expats are concerned that the bulk of the official advice is too generalised and fails to take account of diverse and “complex family and living arrangements”.
For example, some British expats have very particular healthcare needs and require more detailed and personalised advice regarding healthcare in Spain, while others may have questions about the education outlook for their children or grandchildren.
Another problematic area is the regional variation that exists in Spain – for example, tax rates, free movement policies and attitudes to essential residency criteria vary across the country. Any person with region-specific questions in relation to expat residency or finance would do well to seek the advice of an independent bilingual adviser who understands both the regional details and the wider cross-border considerations.
Ideally, these people would benefit from a comprehensive support system; however, in the absence of such a resource there are, fortunately, other sources of advice which can help mitigate much of the uncertainty.
Stay up-to-date
Gov.UK publishes official and up-to-date online guidance for British expats living in Spain. The guidance can be found here and includes various pieces of information, including the following:
- The Withdrawal Agreement
- Visas and residency
- Healthcare
- Passports and travel
- Driving in Spain
- Working in Spain
- Money and tax
- Pensions
- Benefits
- Voting
- Births, deaths and getting married
- Accommodation and buying property
- Pets
- Emergencies
- Returning to the UK
- What you should do
Furthermore, the British Embassy and Consulates are organising ongoing outreach events across Spain (although these are currently being affected by the Coronavirus outbreak) and regular updates feature on their Facebook page: Brits in Spain. These sessions are for expats looking for information and support in relation to their residency requirements and more. You can find details of upcoming events here.
Regulated, expert advice for expats in Spain
For more specific, personalised information and guidance on pensions, wealth management and other finance related matters, Blacktower Financial Management can provide regulated, licensed, expert and region-specific residency and financial advice for expats in Spain. Our bilingual advisers can make a difference so you have clarity and confidence moving into the future, whatever it may hold.
For more information about how we can help you, contact your local Blacktower office today in Costa del Sol, Costa Blanca, Costa Cálida or Barcelona.
* https://www.theguardian.com/world/2020/mar/06/british-residents-in-spain-confused-and-alarmed-about-post-brexit-future Accessed 12-03-20
** https://docs.google.com/document/d/1yIkVn3VtIdOq9w-6k7RxNf33gblUIQvbNnjbqi9LtQQ/edit Accessed 12-03-20
What are your options as an expat in Europe with a UK pension? Do you leave it in place and hope for the best or do you investigate your options and see if there is a product that is perhaps a better fit for your goals and circumstances?
Few financial decisions are as important to an expat as the question of how and where they invest into a pension scheme.