Many expatriates do not get ahead in the retirement race by saving hard as they are scared of this approach encroaching on their standard of living today. However, with careful planning it is easy to get ahead without hindering your current lifestyle. Thus, we have devised this simple, step by step report to show you how to take your financial future seriously, and avoid being one of those expatriates who returns home with nothing more than a mass of photos and memories - and perhaps even debt!
Your previous financial adviser may not be able to introduce you to the potentially tax saving and financially enhancing opportunities available as you find that their focus and expert knowledge is based in your home country alone.
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Furthermore, a local adviser in your new nation is highly unlikely to understand your unique expatriate status, how that relates to any tax saving potential in the nation in which you are residing, and how you need to structure your affairs appropriately in case you should ever want to repatriate or relocate elsewhere.
Planned correctly, a move to another country, including back to the UK, can have some very special future tax advantages. Your FREE savings and pension review from one of our qualified Advisers shows you how to get higher interest rates, reduce charges and access a range of expatriate only financial benefits that enable greater growth.
Spanish bank procedures and mortgage products are different to those in other countries. We have arranged many construction mortgages over the years and can offer expert guidance on the process. If you are interested in this type of mortgage, we would advise that you contact us as soon as possible. Primary residence mortgages are for those where the property in Spain will be their main residence and they already pay their income tax here, or in exceptional cases are about to start paying taxes here.
Investment mortgages are for those property buyers planning to rent out their property after purchase, or where the buyer already has at least one existing mortgage in Spain. We have provided alternative finance solutions for property buyers who may have a sophisticated investment portfolio.
We can help put together back-to-back loan arrangements secured against listed investments. This can be where the lender takes over as custodian, or where a guarantee is provided by the existing custodian of the assets.
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If the company is set up as a shell company for the sole purpose of buying the property, meaning it will not actively trade after the purchase, it can be possible to secure mortgage terms that would apply for a residential mortgage. Free Affordability Check More Info. Documents that originate from outside of Spain will need to be translated into Spanish for many different legal and administrative processes before they can be used by local authorities here.
For formal processes, you will need a Sworn or Official Translator in Spain to translate and affix their stamp to the document. An Official Translator is approved by the Spanish Ministry of Justice as having the skill to carry-out this process for any legal proceedings as well as any other process that requires a Sworn Translator. The list is in fact potentially endless and will depend on the particular process that you need to complete in Spain.
Below you will find a list of processes and the documents you may need to have translated into Spanish. For inheritance proceedings it can often be necessary to arrange for translation of an official death certificate if death occurred outside of Spain, unless an International Death Certificate has been issued. Also, if only a non-Spanish Will is in existence, this may well need to be translated also.
If a couple were married in the UK or other non-Spanish speaking jurisdiction, and they have children born there, it will be necessary to have the marriage certificate as well as the birth certificates of any children born outside Spain translated. Furthermore, any other documentation relating to assets abroad may need to be translated.
Health insurance covering the duration of your stay in Spain is necessary.
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The terms and conditions of such insurance are may need to be translated. Also, any economic means pensions or any other income by which you might prove that you can afford to stay in the country, will need to be translated. Depending on the nature of the Court Order or Judgment that you have obtained in a foreign country, in order to have it enforced in Spain you may be required to follow the legal proceedings of 'Exequatur' which will require you to produce a translation of the original Court decision, carried-out by a Sworn or Official translator.
Our team of official translators are able to deal with many languages, though most popular would be English, German, French, Dutch and Russian. Translations of documents will be returned the next working day, as long as the documents are sent before 2pm. For many this could mean being forced to apply strict rules of inheritance that exist foreign countries unless a Will is drafted in a suitable format. For anyone who wishes to control the manner in which their estate is distributed under their own laws rather than the laws of the State where their assets are located.
Our experienced English-speaking lawyers will discuss with you all aspects of how you wish to dispose of your estate, ensuring:. At this moment I no longer experience these problems.
I am very pleased with the service provided by Francisco. He has been most helpful and responded very quickly to all my emails. Thank you Rosa for your assistance, perseverance and honesty in helping my mum and I. We will definitely recommend you. Ramon was very helpful and professional. He listened to our requests carefully and we will be using him again if we need anymore legal services. A pleasure to meet Rafael and to discuss my needs and he made the whole process straightforward with lots of common sense solutions.
By planning in advance, you will help to remove the emotional burden and some of the financial worry from your next of kin at a time in their lives when they are least able to cope. Planning for your funeral now means you can fix the complete cost of your Cremation funeral in advance FD Professional fees, Cremation fees and Ministers fees are guaranteed , no matter how far in the future death occurs.
If burial is your funeral choice, your plan will guarantee the cost of the funeral director and pay a contribution towards the cost of cemetery and burial fees. Repatriation of your body to any country from the UK if you require your Funeral to be conducted elsewhere in the world.
Repatriation can be a part of your funeral planning agreed in advance. Our team will do their best to accommodate any additions that you require and will be able to advise on additional costs. Our team is used to a variety of requests but we are typically asked to provide additions such as:.
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