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Hello Competa!

Posted: Tue Jan 18, 2022 5:56pm
7 replies161 views5 members subscribed
Ian2022

Posts: 6

1 helpful points

Location: Cómpeta

Joined: 18 Jan 2022

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. 

Holaitsdavid

Posted: Wed Jan 19, 2022 9:01pm

Holaitsdavid

Helpful member

Posts: 794

290 helpful points

Location: Mijas Costa

Joined: 30 Mar 2021

Posted: Wed Jan 19, 2022 9:01pm

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. 

https://myspainvisa.com/golden-visa-spain/

Trevor47

Posted: Thu Jan 20, 2022 9:25am

Posts: 58

23 helpful points

Location: Manilva

Joined: 19 Nov 2021

Posted: 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.

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.

Ian2022

Posted: Thu Jan 20, 2022 9:55am

Ian2022

Original Poster

Posts: 6

1 helpful points

Location: Cómpeta

Joined: 18 Jan 2022

Posted: Thu Jan 20, 2022 9:55am

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. 


Ian2022

Posted: Fri Jan 21, 2022 12:59pm

Ian2022

Original Poster

Posts: 6

1 helpful points

Location: Cómpeta

Joined: 18 Jan 2022

Posted: 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 from the UK? 

Any of you in a similar position? 

Thanks. 

Holaitsdavid

Posted: Fri Jan 21, 2022 2:49pm

Holaitsdavid

Helpful member

Posts: 794

290 helpful points

Location: Mijas Costa

Joined: 30 Mar 2021

Posted: Fri Jan 21, 2022 2:49pm

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...

...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/

Ian2022

Posted: Fri Jan 21, 2022 3:15pm

Ian2022

Original Poster

Posts: 6

1 helpful points

Location: Cómpeta

Joined: 18 Jan 2022

Posted: Fri Jan 21, 2022 3:15pm

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...

... 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. 

lena11

Posted: Sun Mar 13, 2022 11:41am

Posts: 55

7 helpful points

Location: Cómpeta

Joined: 21 Feb 2019

Posted: Sun Mar 13, 2022 11:41am

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.

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