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Buying real estate in Europe still the way to go
| Published: | 27 Jul at 6 PM |
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Tagged: France, Spain, Immigration, Property Abroad, USA, Australia, UK, Money, Switzerland, Euro, Emigration, Pension Transfer, England
Whatever the final result of the Brexit negotiations, purchasing property in Spain and other European countries popular with British expats will still be possible.
One fact that seems to have been forgotten in the post-Brexit chaos is that many non-EU member state nationals can and are still purchasing homes and holiday villas in EU countries. Even after the UK finally quits the EU, British buyers will still be able to live in EU countries, although there may be more stringent and expensive immigration and financial requirements.
As a worst-case scenario, it’s quite possible that free healthcare and certain other benefits may no longer be available, but private healthcare insurance is easily arranged, albeit at a price. Setting aside a proportion of your pension pot against medical expenses is another option, taken by many Brits living outside the EU at present.
Several scenaria are worth considering until a clearer Brexit pathway is declared, with the first being that the UK remains in the single market and Brits are allowed the right to live and work in EU countries. This is the Swiss solution to freedom of movement, and could be possible for the UK in time.
Secondly, terms could be negotiated with EU countries which already host a high number of Brit expats. For example, Spain could well offer Brits similar, but perhaps not as wide-ranging rights. The British presence in Spain is large enough to affect its economy, especially in Andalusia and other coastal resort areas.
The third option probably would not be suitable for British state pensioners wishing to emigrate to EU countries, but would suit those with more means. Quite simply, complying with immigration and property purchase requirements in the same way as do Australian and USA expats should ensure a stress-free experience and long-term residence if required.
It should be remembered that British expats are, in most EU member states, valued customers for both services and money spent on everyday living. France and Portugal, as well as Spain, have benefited over the years from high numbers of UK expats retiring, starting businesses and purchasing homes. It’s not at all likely that the countries involved will simply shut their doors on UK expats, whether already resident or planning to emigrate.
One fact that seems to have been forgotten in the post-Brexit chaos is that many non-EU member state nationals can and are still purchasing homes and holiday villas in EU countries. Even after the UK finally quits the EU, British buyers will still be able to live in EU countries, although there may be more stringent and expensive immigration and financial requirements.
As a worst-case scenario, it’s quite possible that free healthcare and certain other benefits may no longer be available, but private healthcare insurance is easily arranged, albeit at a price. Setting aside a proportion of your pension pot against medical expenses is another option, taken by many Brits living outside the EU at present.
Several scenaria are worth considering until a clearer Brexit pathway is declared, with the first being that the UK remains in the single market and Brits are allowed the right to live and work in EU countries. This is the Swiss solution to freedom of movement, and could be possible for the UK in time.
Secondly, terms could be negotiated with EU countries which already host a high number of Brit expats. For example, Spain could well offer Brits similar, but perhaps not as wide-ranging rights. The British presence in Spain is large enough to affect its economy, especially in Andalusia and other coastal resort areas.
The third option probably would not be suitable for British state pensioners wishing to emigrate to EU countries, but would suit those with more means. Quite simply, complying with immigration and property purchase requirements in the same way as do Australian and USA expats should ensure a stress-free experience and long-term residence if required.
It should be remembered that British expats are, in most EU member states, valued customers for both services and money spent on everyday living. France and Portugal, as well as Spain, have benefited over the years from high numbers of UK expats retiring, starting businesses and purchasing homes. It’s not at all likely that the countries involved will simply shut their doors on UK expats, whether already resident or planning to emigrate.
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