retirement in spain - Page 4

Yup! Hopefully Spain won't impose that, but we just don't know.

Jim's advice as always is appreciated, sound and probably the best researched as seen.

You may have other options re Residency and the taxation angle. If your pension commutes into a reasonable sum, reinvest it into funds under an IFA, move the profits out as tax free ISA's in the UK doubling up you and your partner's allowance per annum  and feed what you need into your living in Spain...as your 'income'? Which it truly is.

I think you need some professional IFA advice on it, and our UK one won't represent Spanish considerations, but they will for the UK.

Good luck and let us know how it goes!

Great humour ;-)

Although if resident in Spain UK ISAs will no longer be tax free wrappers.

Hi Lancelot,

I too will be looking to move out later this year but not until around September/October and, like you, will be looking to maintain a deposit of over €14k in my Spanish bank account for my wife and I to apply for residency. Like you, we own our own home in Spain so no direct housing cost such as mortgage or rent, just planning to transfer money from UK bank to Spanish bank every month of around €1,500 to cover bills etc and a further top up from pension draw-down of around €1,000 for food etc..

We're out again in June for 11 days during which time I'll be arranging appointments to speak to someone about the residency application process and advice on tax processes etc so I'd be very interested to hear how you get on with your process if you'd be so kind as to share your experience.

Thanks

Baz

Hi - we haven't bought yet - we hope to put an offer in for something once our contracts are exchanged in the UK which is hopefully in the next few weeks. At that time I'm likely to visit Abaco, who are our chosen solicitors. I might try and force an initial taxation profile out of them at that stage. 

I will let the forum know how we get on not because it's necessary news but it will be contemporary :) 

Good luck.