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Student Finance Court Ruling A Boon to Expats

The case focused on the rights of expats to claim a type of fee assistance called “student finance”. Not only does student finance provide a loan on favourable terms, it also reduces the overall fee burden from the standard “university tuition fee” to the less demanding “statutory tuition fee”. This has the potential to save expat students and their families as much as several tens of thousands of Euros per year.

Who is Eligible for Student Finance?

Any person who is either an EU/EEA/Swiss citizen or a direct family member is entitled to receive student finance. Permanent residence holder permits and refugees are also eligible.

The judge hearing the case at Amsterdam District Court ruled that the law preventing expats from claiming student finance violated European Convention on Human Rights non-discrimination law stemming from the European Convention on Human Rights because it allowed student finance for some independent residence permit holders, but not others, without providing any clear explanation as to why.

The Dutch Minister of Education may still apply to the Central Court of Appeal in Utrecht in order to contest the decision. However, this must be completed before the end of the month or the District Court’s ruling will prove binding.

Talk to Blacktower Today

If you would like help structuring your wealth and building a long-term strategy for your finances, including education fee planning and retirement strategies, talk to Blacktower’s expat financial advisers in the Netherlands today.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

Planning for a Long Retirement in Spain

PaellaPeople across Europe and the Western world are living longer than ever before. This is likely to be the result of a combination of many factors – for example, good diet, technological and medical advances. and increased access to healthcare.

However, simply moving to a country with high longevity is, in itself, not enough to confer any benefit.

For example, if you move to Spain but eat a ‘Full English’ breakfast every day, followed by fish and chips for lunch and roast beef with Yorkshire pudding for dinner, while all the while smoking 20 cigarettes a day and downing several pints of beer every evening, the Spanish climate and great healthcare is probably not going to help increase your lifespan by a particularly significant amount.

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Modelo 720 (Overseas Asset Declaration) It’s that time of year again

Spanish FlagIf you are resident in Spain (if you live here more than 183 days in a calendar year, the Spanish tax authorities and in turn the UK HMRC will class you as Spanish resident) and held assets outside Spain as at 29 December 2017 worth over Euro 50,000, and you haven’t already declared them on a Modelo 720, you need to so by the end of March.

You may ask why should you bother, well unless you want a huge fine and possibly tax audit (they can legally go back to 2012) it is in your best interests to do it.

Some of you may still be under the impression that the reporting of assets is not a legal requirement; if this is the case then sadly I have to tell you, you are mistaken. On 15 February 2017, the European Commission accepted that Spain has the right to require residents to declare overseas assets. While the Commission disagrees with the severity of punishments for late or inaccurate submissions, the requirement to submit the Modelo 720 form is not under challenge. The EU and the UK say it is a legal requirement.

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