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Spain is the most popular destination for Brits to retire to, but how long can it remain at número uno?
This month, Pedro Sánchez, the country’s prime minister, announced plans to introduce a 100 per cent tax on the value of properties purchased by people from non-EU countries such as the UK. The plan is part of a raft of measures aimed at tackling a “grave” housing crisis and improving housing affordability by deterring foreign purchases.
Last year, the Congress of Deputies in Spain voted to end its Golden Visa programme, which allows non-EU investors to obtain residency in Spain by investing. No more applications will be taken after April 3 this year.
These changes may seem to crush Spain’s retirement appeal for Brits, but are you still planning to make the move? Perhaps you’re considering a different destination: France, Portugal, Italy or even Thailand and Australia often feature on Britons’ wish lists.
If so, how will the move affect your finances? How much will tax and succession planning factor in your choice of destination? If you have retired abroad recently, we’d love to hear from you too. Do you think you’re richer as a result?
Please get in touch by emailing moira.o’neill@ft.com.
