Investments News & Insights

More expats end up in France than any other country, according to MoveHub, which has recently released a report detailing global moving trends and revealing the favoured destinations of job-seeking migrants from all over the world. The international removal company analysed more than 180,000 move enquiries from April 1, 2015 to March 31, 2016 to see the most popular choices when it comes to relocating abroad.

In particular, the report looked at the moves of what it defined as 'professional migrants'. This means individuals who are motivated to leave their country of origin by better job prospects and the lure of growing economies, which could lead to a better quality of life. The countries that attracted the most movers were France (1st), the United Kingdom (2nd), and the USA (3rd).

One of the most frequently-asked questions asked by many of the 300,000 Expats living here in Spain is ‘am I resident or domicile?’ It is a good question, and one worth finding the answer to, as your residential status when living abroad affects the way in which you pay tax and how much you pay. 

Many UK nationals have accumulated savings and investment portfolios using an array of options, such as National Savings to Individual Savings Accounts (ISAs), Personal Equity Plans (PEPs) and Premium Bonds. Unfortunately, once you take up residence in Spain, the tax incentives provided by the UK schemes fall away and the income and gains may become wholly taxable under Spanish law.

When you move to a new country, it is a major change and should prompt a complete review of your wealth management to ensure it is as effective as possible for your new life. Similarly, if you have lived in Spain for a number of years, it would be wise to have a full review of your saving/investment/pension position to ensure optimum benefits. We take a look at some of the most common investment types and what your move to Spain might mean for your finances.