Quick warning: Spain urges UK to change its retirement rules urgently or risk economic damage | United kingdom

Moira Carmanat, from the export center south of the Costa Blanca, said she was surprised that Spain had not reduced its application to show that the annual income of retirees exceeded $ 21,000. He said that many British retirees could be forced to return home if the rules are not relaxed, as the government pension in the UK exceeds 500-6500 rupees a year.

Despite the invaluable contribution of 108,000 British retirees to its economy, there is no indication that it will cut any amount from the Spanish government.

According to Spanish regulations, foreigners need proof of employment or they can prove that they are earning more than 21,000 a year if they retire.

It is also estimated that UK tourists contribute $ 12 billion annually to the country’s devastated economy.

Speaking to Express.co.uk, he said, “We hope they have changed the rules now, but who knows what they’re thinking?

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“Given how much this group has contributed to the Spanish economy, one wonders why they haven’t changed it.

“It wasn’t doing well anyway, and the government brought down all the economies of the world.

“You thought it would be all the money the Spaniards could have.

“But this has not happened yet, and there are no indications that anything will change.”

Mrs. CarmanateOriginally from Glasgow but now living in Alicante, he said foreign retirees were awash with bank fees.

Although they are small and equal to around £ 15 a month, they have never had to pay before and this affects many older people with a normal income.

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This is in addition to other fees, including mail from the United Kingdom.

As a legal expert told Express.co.uk about the top three challenges foreigners face in Spain, the country has started a 90-day residency for unregistered Britons.

Barry Davis, who has worked as a private financial advisor for foreigners for the past 14 years, has warned of the need to demonstrate additional health insurance requirements, savings of at least 7,7,790 and lost access to UK Independent Financial Advisors.

“As always, fear of the unknown was a prerequisite,” said Mr. Davis of the Spectrum International Financial Advisory Group.

Most of the people I know have had a reaction to ‘This is not so bad’ after going through this process. ‘

“The biggest challenge facing the British in Spain is to find out what has changed and what has not changed,” he added.

“For those with a Spanish residency card, TIE, the changes are minor.

Those who get there can show an additional burden of health insurance needs and savings of 25,560 (.7 21,790) per individual and 7,5,700 (.800 4,860) per family member.

“This system is not difficult, it is new to the British people.”

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