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Money to invest

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Posted: Sat Jul 20, 2019 11:31pm
5 replies392 views5 members subscribed
robwatson2

Posts: 83

Location: Villamartin

2 helpful posts

Hi

Anyone got any ideas where to invest 100,000 gbp in Spain.

Uk banks won’t let me invest because we live here

Has to be safe , only money we have before pension kicks in 

Kimmy11

Kimmy11

Super helpful member

Sun Jul 21, 2019 12:58am

Posts: 1456

1674 helpful posts

Posted: Sun Jul 21, 2019 12:58am

Hi Rob,

Are you being denied UK investment options because you don't live in the UK, or is it because you don't have a UK address?  

The UK's biggest banks - NatWest, Barclays, Lloyds and HSBC - all offer international accounts, which are designed specifically for non-residents.  The information on NatWest's international account, for example, includes a link to their deposit and savings account options:

www.natwestinternational.com

I looked at savings accounts in Spain, but to get anything like the returns I get in the UK with low risk, your money is tied in for 5-6 years.  There are a number of investment companies working in this region, but their products are higher risk and, again, the nature of the investment means your money is tied in for the longer term.  

If an international account with a UK bank isn't an option, you're probably best to trawl the high street banks and compare what's on offer, but unless there's been a dramatic improvement in the last year, be prepared to be underwhelmed.

Kind regards, 

Kim

killjoy

killjoy

Helpful member

Sun Jul 21, 2019 7:29am

Posts: 539

Location: Orihuela Costa

278 helpful posts

Posted: Sun Jul 21, 2019 7:29am

I wouldn't invest a penny where the economy is driven by high unemployment and a public debt higher than the national gross income. Sooner or later the Spaish economy must bust, at this time every Spaniard owes € 25.444,- perhaps not enough to worry bout but for a family of 4 it adds up to over 100.000,- - impossible to be ever paid if not by means of a devaluation.

Nakabandi

Sun Jul 21, 2019 12:39pm

Posts: 112

Location: La Marina

44 helpful posts

Posted: Sun Jul 21, 2019 12:39pm

Hello Rob

Do you mean invest or do you mean deposit in a safe account with a government backed compensation scheme.

All investments have risks and you can lose all your money, they have no government backed compensation schemes

The value of investments, and the income or capital entitlement which may derive from them, if any, may go down as well as up and is not guaranteed; therefore investors may not get back the amount originally invested.

The latest get rich investment scheme is in Agua Trees in Borneo.

Perhaps you should consider an off shore deposit account.


christined62

Thu Jul 25, 2019 12:08pm

Posts: 2

Location: Cabo Roig

Posted: Thu Jul 25, 2019 12:08pm

Does a state pension get paid into a English bank account and then you transfer to your Spanish account ?

Nakabandi

Thu Jul 25, 2019 1:00pm

Posts: 112

Location: La Marina

44 helpful posts

Posted: Thu Jul 25, 2019 1:00pm

That can be arranged.

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