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Pondering Pensions for Marbella Residents Post-Brexit

Against this background it becomes all the more important that financial advice is sought in relation to private pensions. For a start, double tax treaties allow for enormous tax benefits to the expat retiree, while arrangements such as Qualifying Recognised Overseas Pension Schemes (QROPS) present many opportunities from a wealth management perspective. These of course include reduced income tax on drawdown, the flexibility to pass on tax-free pension funds to beneficiaries on death, greater investment freedom, and more.

The concern is that the politics surrounding Brexit could ultimately mean that expats are left with less enviable options post-March 2019. Given the way that finances work it is useful to remember how even small margins can, with large sums of money over long periods of time, make a significant difference, ultimately resulting in significant losses on what might otherwise be enjoyed.

This is why it is so important that expats in Marbella seek financial advice now so that they can make the most of the rules as they currently stand, rules that in the most part allow for an advantageous degree of efficient, personalised and regulated management that helps them ensure that their money works for them.

Unfortunately, although in all probability the post-Brexit landscape will not be that much different for expats who are already resident in the EU, there are no guarantees about what the future holds. By taking financial advice now you can limit the possibility for nasty surprises, however unlikely they might now seem.

Other News

Sweden Voted Top Destination for Women Expats

Sweden flag and victory signExpats are in many ways the most forward-thinking of global citizens; living abroad shows a desire to embrace something more complex than a simple national identity and way of life. Yet, at the same time, it is also the most ancient act; humans began as nomads and then migrants, so being on the move is part of our species’ natural curiosity.

But there is more to being an expat than simply picking a destination on the map and moving there. By looking at all the available options and factoring in the many variables, people have an opportunity to make the most of their prospects and to enjoy the richest and most varied life possible.

Fortunately, this is what most expats do: the most recent HSBC expat explorer survey found that a move abroad adds around USD21,000 to the average salary, with some countries offering even more. For example, Switzerland, which has long been a destination of choice for the globally minded expat, boosts income by an average of USD61,000 a year.

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