# Moving to Spain



## Cheryl.richo (Jul 16, 2015)

Hi I'm thinking of moving to Spain next year and am a bit daunted by the lea gal side can anyone recommend a solicitor and some one to deal with the money side of retiring to Spain please were looking at Malaga area


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## 90199 (Mar 21, 2010)

We didn't need a solicitor or a gestor, sorted everything ourselves, however here is not Malaga.


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## Cheryl.richo (Jul 16, 2015)

Suppose it depends if we buy or rent ! We've got 2 dogs so not sure how easy it would be to rent ! It's the money side as well do we get Spanish accounts or leave money here in England ?


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## Justina (Jan 25, 2013)

*Spain*



Cheryl.richo said:


> Suppose it depends if we buy or rent ! We've got 2 dogs so not sure how easy it would be to rent ! It's the money side as well do we get Spanish accounts or leave money here in England ?


Generally, dogs are not a problem. I am on my third rental and said from the beginning that I had dogs.
As to monies, we have a bank account in the UK and one here and send money to the Spanish one each month and if we need more during the month then just use the Brit debit card.


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## alborino (Dec 13, 2014)

Cheryl.richo said:


> Suppose it depends if we buy or rent ! We've got 2 dogs so not sure how easy it would be to rent ! It's the money side as well do we get Spanish accounts or leave money here in England ?


IMHO you need to do, or get someone to do, a spreadsheet of your income and outgoings over several years.

You will need to assess tax deductions based on Spanish tax (remembering that no one has a crystal ball so some leeway required).

And you will be subject to currency fluctuations assuming you have UK income so deciding how to as much as possible negate risk is essential. 

Only then does how your wealth needs to be spread become clear. Most likely spread between Euros and Pounds. And remember the Euros do not need to be in Spain.

Get UK advise first so you have a clear workable plan. Then consider getting Spanish professional help to action the spanish side of the plan. And allow time for that as it can take months for spanish professionals to respond to simple queries.

Do read the stickies here and you will see that things like the need for a spanish account become obvious. 

HTH and good luck with the dogs. Hope you find them a happy home


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## Simon22 (May 22, 2015)

Cheryl.richo said:


> Suppose it depends if we buy or rent ! We've got 2 dogs so not sure how easy it would be to rent ! It's the money side as well do we get Spanish accounts or leave money here in England ?


As above, rentals here do not mind pets anywhere near as much as other countries. We paid no extra for having a cat.


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## 90199 (Mar 21, 2010)

Cheryl.richo said:


> Suppose it depends if we buy or rent ! We've got 2 dogs so not sure how easy it would be to rent ! It's the money side as well do we get Spanish accounts or leave money here in England ?


My pensions are paid into U.K. accounts, I have Spanish accounts, and when the exchange rates are in my favour, like now, I transfer a lump sum, 3000 GBP, or more from the U.K. account, using a currency dealer, to the account here in the Canaries. That way I do not pay commission and I get a better than normal exchange rate.


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## Cheryl.richo (Jul 16, 2015)

Great will look into that thanks


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## Cheryl.richo (Jul 16, 2015)

That really helpfull thanks but don't you get taxed in both countries then ?


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## alborino (Dec 13, 2014)

Cheryl.richo said:


> That really helpfull thanks but don't you get taxed in both countries then ?


Yes but each pound or Euro only gets taxed once so it will be what it will be. Probably a little more than you would pay in the UK


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## Cheryl.richo (Jul 16, 2015)

Great news that pets rant a problem as here in UK it was really hard to find a rental willing to take pets even though my dogs don't spill Ribera on the carpets or draw on the walls like children do lol


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## 90199 (Mar 21, 2010)

Cheryl.richo said:


> That really helpfull thanks but don't you get taxed in both countries then ?


I have a Govt.pension which at the moment is taxed in the U.K. only, I have transferred my O.A.P. and investments to the Spanish system, and they subject to the investment returns, are taxed here. I pay a Tenerife accountant, to submit my Spanish tax returns, I pay a Financial adviser here in the Canaries to look after my investments, I am in profit by doing this, and have also been made aware of the best legal ways to avoid high taxation.

I no longer need to submit a U.K. tax return


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## Catzoooo (Mar 31, 2015)

I've secured a rental via the Internet. With 2 small dogs and a cat no problem. No extra deposit.


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## Lynn R (Feb 21, 2014)

Cheryl.richo said:


> That really helpfull thanks but don't you get taxed in both countries then ?


Even if you left all your money in the UK or elsewhere, you would still be liable to pay tax on all your worldwide income in Spain if you live here. If you have savings, investments, property, pension funds, etc. in the UK (or anywhere else) which are worth €50,000 or more in any single asset class you also have to submit an annual declaration of your assets (the Modelo 720).

Because of the dual taxation treaty you don't pay tax on the same income twice, though.


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## alborino (Dec 13, 2014)

Hepa said:


> ...............and when the exchange rates are in my favour, like now, ..............


Hepa interested to know whether you think the pound is about to fall or the Eiuro rise?

A guy here yesterday or day before was looking for an exchange rate of 1.50. But I guess you don't see that any time soon 

I'm interested because I need to move a large sum in the coming months but my prediction capabilities of the currency markets are minimal


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## mrypg9 (Apr 26, 2008)

alborino said:


> Hepa interested to know whether you think the pound is about to fall or the Eiuro rise?
> 
> A guy here yesterday or day before was looking for an exchange rate of 1.50. But I guess you don't see that any time soon
> 
> I'm interested because I need to move a large sum in the coming months but my prediction capabilities of the currency markets are minimal


Wait until the next round of bail-out talks between Greece and the Quadriga begin....


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## alborino (Dec 13, 2014)

mrypg9 said:


> Wait until the next round of bail-out talks between Greece and the Quadriga begin....


That's the issue Mary you are predicting a fall of the Euro as the guy before. Hepa is going the other way.

I remember people here in january saying "it went above 1.30 and I bought. Very pleased". Less than a month it was 1.35  Did they buy at a favourable rate?


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## Rabbitcat (Aug 31, 2014)

I reckon it has now bottomed out. Don't seriously think theres any chance it will slump to 1.5


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## 90199 (Mar 21, 2010)

alborino said:


> Hepa interested to know whether you think the pound is about to fall or the Eiuro rise?
> 
> A guy here yesterday or day before was looking for an exchange rate of 1.50. But I guess you don't see that any time soon
> 
> I'm interested because I need to move a large sum in the coming months but my prediction capabilities of the currency markets are minimal


I take advice, at the moment it is inconclusive, in fact most of the time it is inconclusive, so I set myself a figure, a few weeks ago I said if it goes above 1.40, I will move 6,000 GBP, this I did, so I am now in funds here, not needing urgently to move money, I have now set the figure for around 1.50 for another 6,000 GBP, that might be next year, and if I start getting short of cash I lower my target. The pound is now at 1.4199, against the Euro and heading up. 1.50 who knows, not so long ago we said the same about 1.40

This firm provide a wealth of information, you have to sign up with them thoughBank-Beating Exchange Rates, International Money Transfers | TorFX


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