Re Locating To Spain

[lounger]

I shan't comment on your Thai partner accompanying you as that's purely at your discretion. I have one client who as done what you plan and they found Spain much more accepting of a European Male/Asian female relationship than the rather more draconian attitudes adopted in the UK when they were there too...

It doesn't sound like you will be shifting a lot of capital when you move, but I just wish to highlight one very important point. Spain has a dual taxation treaty with the UK which carries some advantages/disadvantages. If you have any lump sum (proceeds from a Thai property sale or what not) - leave it offshore and do NOT repatriate the funds either to the UK or Spain. Leaving them 'in limbo' offshore would give you some significant tax savings and avoid too much of your money being taxed locally in Spain.

Outside of the 'millionaire playboy' suburbs property is very cheap in Spain compared to the rest of the EU and Madrid has been known for being the cheapest EU Capital city for quite some time etc etc.. At retirement age, access to cheap/free medical care is also a very compelling reason to relocate from Asia/elsewhere.

I know this is going off topic slightly, but no one else mentioned it here so I thought you might be interested in this snippet of information. Forewarned in forearmed as they say!

Very best wishes and good luck.

Thailand and UK also have a double taxation agreement so no advantage there.

In Thailand the Old age pension is frozen and therefore not grow with inflation. In Spain OAP will get indexation increases in line with UK.

I am disapointed that the posters who have some experience of Spain dont mention anything of quality of life. Are the expats friendly, do they all complain like the expats in Thailand????? I live in rural Thailand and am thinking of moving. The easy choice would be Pattaya etc but who wants to walk away from one house and have to start again. Years ago tv programs suggested that buying property in Spain can be a nightmare because of dodgy dealers in cahoots with lawyers etc. Are these a part of life or rare occurrances?

[cyrilmadrid]

Strange that people think you do a pre-nup because you don't trust her. You should ALWAYS do a pre-nup. Better safe than sorry.

With regards to houses being given away in Spain, I've been living in Spain for 20 years so know the market : prices have been falling 18-20 % after a 150 % rise, and it is very probable that it still will experience a 20-40 % further drop.

Recommendations : the best source for homes on the coast are banks, this is where they are stuck with so many construction they can't sell; many of them have set up their website with their 'foreclosed' homes. But prices are probably not yet as low as they should.

Alternative, find a private individual, but do not bid higher than -30 % his offer price. Put a few of these bids and one will work for sure. It is not 'given away' but in any case, you will have anticipated -and avoided- the upcoming further fall.

Enjoy Spain !

[121Advice]

I have a handful of clients who have retired to Spain and in the main although they are relatively happy, it has not been quite as pleasant as they had hoped. And yes, they do moan! Isn't that a favourite pastime of the British anyway?

With the Euro so weak, property bargains can be had, but inflation is rife and the overall cost of living isn't as cheap day-to-day as Thailand - not even close. Of course health care considerations if something went wrong is a different matter, but lets focus on the positive! Spain is full of unscrupulous property 'lawyers' but if anyone relocates there then it would make sense to rent, do your research and then only buy when you have thoroughly done your homework. Common sense anywhere of course.

I am based in Pattaya as it is relatively central, I have everything to hand and with a glut of accommodation and being so close to BKK prices are very reasonable all round. The Expat clubs are very active and whatever your pastime(s) they are available here in abundance. Beach properties are VERY expensive to rent/buy but most established Expats live slightly further out near the lake where there are 100's of Expats and property is very reasonable irrespective of whether your rent or buy. It can get busy high season and it is certainly not as rustic as Chang Mai for example, but as a BASE it is great value overall.

I suspect Expats are generally happier in Asia than in Europe. I know that's a bit of a blanket statement and there are always exceptions, but in my experience those based in Asia are able to make their money go further, even with the poor £-Euro/Baht exchange rates. If you are on a very tight budget then I guess Basic State Pension indexation is a consideration, even if BSP is taxed at source. The Revenue argument that Expats save taxes in other ways to compensate doesn't really stack up, we all know that - but with "UK Plc" basically bankrupt I cannot see anything changing for quite some time....

If I were elderly, in my latter years of life expectancy I may well return to the UK/EU for state care reasons and to be close to old friends/family. I can understand Expats feeling this way and calling a day on there self imposed exile, but everyone's different. All I do know is that out of the handful of clients I have/had in Spain, without exception they have returned to the UK upon the death of their spouse or when they have become quite frail. This has to say something I guess?

Andrew