Thank you for letting me in
We are seriously considering moving to Spain and living in Competa. Really appreciate honest feedback on the joys and challenges of settling there.
Thank you for letting me in
We are seriously considering moving to Spain and living in Competa. Really appreciate honest feedback on the joys and challenges of settling there.
Posted: Wed Jan 19, 2022 9:01pm
Very helpful member
The biggest joy is the weather, (apart from mid summer) great food and relatively low cost property compared to the UK, (But little or no appreciation, so not a great investment), study very carefully your future 'taxation situation', plus the cost of heath insurance, private much cheaper than UK and very good. They have Bupa here, https://www.sanitasexpat.com/quote_me/ Driving a problem right now as Brits can only drive for 6 months, then need to take a Spanish test, 'unless Spanish finally do a deal to swap'. Since the UK left the EU things can be complex. Spain now a third country and many complications, you can avoid many problems with a 'Golden Visa'. See link below, which also tells you many of the requirements to move. Good luck.
We bought our property in 2015 and rented it out. Then in 2018 we decided to move here. We love the life and in fact my wife has now opened a gift shop, so we got to know the community a bit better.
We have friends in Competa and they love it. I have the drive to see them, they are out in the campo with dirt road and sheer drops in the side. They also have a lot of land that needs maintenance. It’s a lovely place though.
Our apartment is on the edge of the town (San Luis de Sabinillas) so we can walk everywhere, be wary of property in the middle of nowhere meaning you have to drive all the time. I would suggest you rent first before buying.
If you are willing to learn Spanish and try and mix in with the community it can be a great life. If you move to an English “ghetto” it can often be just a drinking community.
We enjoy the weather and outdoor life, the slower pace and mix of people. It’s nice to go to the local ferretaria and buy one screw instead of a packet of 20. It’s nice the mixture of shops instead of a high street that looks like every other town.
Health system is as good as the UK, and people respect it.
Not sure of the new rules now for residencia but worth looking into.
Thank you David and Trevor. All this advice is most helpful. Yes, we are inclined to rent first on a NLV for a year to see how it goes.
As to your point about large landed villas out in the campo - they do look attractive on the sales videos, but living in the sticks here in the UK, I think we’d welcome a change from tyre-bursting farm tracks.
.
Hi All
Tax! Undoubtedly expert tax advice is needed having seen the bewildering tax information available on various websites.
I suppose the bottom line is this: can an expat couple live comfortably in Spain on a modest income involving UK pensions and let property income from the UK?
Any of you in a similar position?
Thanks.
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Posted: Fri Jan 21, 2022 2:49pm
Very helpful member
Ian2022 wrote on Fri Jan 21, 2022 12:59pm:
Hi All
Tax! Undoubtedly expert tax advice is needed having seen the bewildering tax information available on various websites.
I suppose the bottom line is this: can an expat couple live comfortably in Spain on a modest income involving UK pensions and let property income f...Read more...
...rom the UK?
Any of you in a similar position?
Thanks.
I'm sure you can, but note once a resident, which you need to be, to stay longer than 90 days, tax on all income, including your UK property rental is subject to Spanish tax. Note the tax year starts January the first and back dated, in which case not a good idea to move mid or late year. Note as I posted your pension income and property rental could mean you end up paying S.S, and income tax.
I few guides in this Spanish accountant link. https://www.spenceclarke.com/guides/
Holaitsdavid wrote on Fri Jan 21, 2022 2:49pm:
I'm sure you can, but note once a resident, which you need to be, to stay longer than 90 days, tax on all income, including your UK property rental is subject to Spanish tax. Note the tax year starts January the first and back dated, in which case not a good idea to move mid or late year. Note as...
Read more...
... I posted your pension income and property rental could mean you end up paying S.S, and income tax.
I few guides in this Spanish accountant link. https://www.spenceclarke.com/guides/
That’s great advice David. Thank you. The timing of the move is obviously important. Looks like a January move is advantageous.
I appreciate the link, too. Heavy but necessary reading.
Have a good weekend.
Hi There,
I think you need to come and rent first and see if it is the place for you, not only as liking the village (I am sure you will more than like it) but getting the feeling of townhouses, they are built for summer temps and they can be cold in the winter. I have lived here for 18 years, but not in the village, many friends have townhouses and lived her for many many years and they they obviously love it.
Trevor47 wrote on Thu Jan 20, 2022 9:25am:
We bought our property in 2015 and rented it out. Then in 2018 we decided to move here. We love the life and in fact my wife has now opened a gift shop, so we got to know the community a bit better.
We have friends in Competa and they love it. I have the drive to see them, they are out in the campo with dirt road and sheer drops in the side. They also have a lot of land that needs maintenance. It’s a lovely place though....
Read more...
...
Our apartment is on the edge of the town (San Luis de Sabinillas) so we can walk everywhere, be wary of property in the middle of nowhere meaning you have to drive all the time. I would suggest you rent first before buying.
If you are willing to learn Spanish and try and mix in with the community it can be a great life. If you move to an English “ghetto” it can often be just a drinking community.
We enjoy the weather and outdoor life, the slower pace and mix of people. It’s nice to go to the local ferretaria and buy one screw instead of a packet of 20. It’s nice the mixture of shops instead of a high street that looks like every other town.
Health system is as good as the UK, and people respect it.
Not sure of the new rules now for residencia but worth looking into.
hello Trevor, i am a single lady wanting to retire to competa from uk, are there supermarkets like aldi or lydle in competa, and english cafa maybe, and is there a daily bus service to sedela do you know.
thank you so much
kind regards
Adrienne
Posted: Thu Jan 19, 2023 10:51pm
Very helpful member
Ian2022 wrote on Fri Jan 21, 2022 3:15pm:
That’s great advice David. Thank you. The timing of the move is obviously important. Looks like a January move is advantageous.
I appreciate the link, too. Heavy but necessary reading.
Read more...
Have a good weekend.
Before you move and get a NLV, which makes you a 'tax resident;, essential to get good advice, any rental from a UK property will be taxed in Spain, (international law is you can only be resident in one place) if you sell a UK property it's subject to Spanish capital gains tax, but an exemption for people over 65 if was your habitual residence. (if not has to be sold before move end of tax year Dec 31. Private pensions and income taxed in Spain, if a retired civil servant you can pay tax in UK. An accountant advice here essential, this on one link also with UK office UK. - Good news Andalucía has abolished inheritance tax, one reason to move!
This service also good on line, https://taxadora.com/
Run by this guy who will answer any E mail questions rapidly; https://es.linkedin.com/in/vilho-heiskanen-13273613
Life was simple before Brexit, people just lived here and kept affairs UK, you can still do that with a Golden Visa which means buying a property of 500,000 Euro plus.
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