Contact

News & Insights

Spain support reciprocal agreement for expats

The Spanish secretary for the EU, Jorge Toledo, who is also Madrid’s leading negotiator on Brexit, spoke to The Times about the matter. He said Spain is “broadly in favour of retaining a reciprocal agreement on questions like healthcare and freedom of movement”.

Toledo added that they have the “amplest respect” for the rights of all expats but the conditions of these rights will be subject to negotiation.

The Spanish Prime Minister, Mariano Rajoy, shared a similar view back in February, telling AFP he was “absolutely convinced” expats won’t be affected by any decisions made.

There are roughly 900,000 British expats living in the EU, and around a third of them live in Spain. Securing the rights of British expats has been something that Prime Minister Theresa May has been focused on since the beginning of Brexit talks, and it is believed that the topic remains a priority in negotiations now that Article 50 has been triggered.

In May’s letter to the President of the European Council, Donald Tusk, she said any talks should “always put our citizens first”, adding that, for the many EU expats living in the UK and British expats living in the EU, “we should aim to strike an early agreement about their rights”.

The Prime Minister has also previously said that she won’t secure the rights of EU nationals living in Britain until she has confirmation that the rights of the British expats in EU member states will also be safeguarded.

The news should help reassure some expats who have been concerned what Brexit will mean for them. Although nothing has been promised as of yet, it seems as though the Spanish government has no intention of stripping any Britons, many of whom have lived in Spain for decades, of the rights they’re accustomed to.

But even though expats have so far received positive signs that their current lifestyles in sunny Spain will be protected, it’s still a time of great uncertainty. Brexit has meant that expat financial services have become increasingly important to those who want further reassurance that their money and well-being will be safe, regardless of the outcome of the negotiations.

With a Blacktower adviser, you’ll receive expert help finding the best solutions to protect every aspect of your finances, whether it’s help with your savings, wealth management, or pension pot. If you’re part of the large expat community living in the Costas, we have offices in Spain’s Costa del Sol and Costa Blanca, so get in contact 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

Your Foreign Spouse and Your Pension

Bride's bouquetBeing an expat has many potential benefits and opportunities, but residing abroad also brings with it certain complex financial considerations. In many ways these can be made all the more complicated if you also happen to have foreign husband or wife, particularly in regard to your expat pension planning.

Although in most situations having a foreign spouse is unlikely to affect their possible entitlement to your pension in the event of your death, there are many variables that you should consider as an essential part of your expat financial planning.

Read More

Expats’ EHIC-Style Rights Guarantee a Step Closer

Blood pressure monitorBritish expats abroad have taken heart from the announcement that the government has introduced a bill to replicate the European Health Insurance Card (EHIC), meaning that expats should continue to receive healthcare abroad even in the event of a no-deal Brexit.

As it stands, EHIC entitles Britons to state health care when in an EU or EEA country (European Economic Area) for treatments that are “medically necessary” as well as those for pre-existing conditions. Furthermore, as long as a person has not travelled abroad with the specific intention of giving birth there, they are also entitled to routine maternity care.

Although the Healthcare (International Arrangements) Bill does not replace EHIC it clears a pathway to a fast-track bill that will “provide the powers that are needed” in the event of British citizens’ healthcare rights being threatened by Brexit. It also means that, contrary to the fears of many expats, affording private medical insurance may not be an issue they will need to discuss with their expat financial services provider.

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information:

You are currently viewing the Blacktower Financial Management EU website.

You may be looking for the Blacktower United States website.

Blacktower United States > X Stay on this site

Or choose your country.