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Living and Working in Spain with David Wright:
The Ultimate Expat Guide Special guest today Josh Williams from Ambient wealth Welcome to Living and Working in Spain with David Wright,

your go-to hub for expert advice and practical resources tailored for expats. Whether you’re planning your move to Spain or navigating life as a resident, David Wright offers the guidance you need to make your Spanish dream a reality.

Visit DavidWrightOnline.com for exclusive insights and resources.   Exclusive Resources for Expats in Spain Unlock the benefits of David Wright’s exclusive membership platform, where you’ll find tailored advice on essential topics like:   Spanish Residency and Visas: Step-by-step guidance through the legal process. Employment Opportunities: Tips for finding work in Spain. Cultural Integration: How to blend seamlessly into Spanish society. Lifestyle Advice: Insider tips for a stress-free transition. Meet David Wright: Your Trusted Expat Mentor With over 23 years of experience living in Spain, David Wright is a trusted authority on expat life. As the author of six bestselling books on Amazon and Kindle,

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Episode Transcript

Speaker 1 (00:00):
Okay, So today we're doing a little webinar and we've
got a financial expert, Josh Williams from Ambient Wealth Management.

Speaker 2 (00:09):
So hi, Josh, can you hear me? Okay?

Speaker 3 (00:11):
Good you well, David, Yeah, thanks for having me on.
Good to see you again.

Speaker 4 (00:16):
Great.

Speaker 1 (00:16):
And now Josh, you're going to give us some tips
and advice today, and can you just tell us a
little bit about your company and the services that you offer.

Speaker 5 (00:25):
Yeah, for sure.

Speaker 3 (00:27):
So Ambient Wealth Ambient Wealth Management, we specialize in helping
expatriates that are living in Europe, but predominantly in Spain.
We're based in Spain. I've lived in Spain myself for
ten years. Come from a financial background with my father's
company in London, moved here ten years ago and continued

(00:50):
in the financial advisory space and helping individuals learn a
lot in my time here here in Spain, and then
for Ambient Wealth Management eighteen months ago now to continue
providing a value and a high service to expatriates, which

(01:11):
is what I thought that the space was lacking through
my previous experience here overseas with expatrick clients.

Speaker 5 (01:19):
So yeah, that's what we do, that's what we help.

Speaker 3 (01:21):
Investment planning, savings options and pension advice and transfer options.
They're the free focus areas that we help and we
look after clients for life. We provide value for life
and regular updates and servicing to make sure that you
know circumstances are are you know that the plans are

(01:43):
on track for individual circumstances and any changes that need
to be made are done so efficiently.

Speaker 1 (01:52):
So, Josh, we got a couple of people. I think
I'm ready to jump on, So we're crack on straight onto.

Speaker 3 (01:57):
It might perfect perfect, It was perfect well to answer
that question, Kevin, good to meet, by the way, thanks
for joining.

Speaker 5 (02:08):
It's it's to understand what your.

Speaker 3 (02:10):
Objectives to the individual's objectives are You mentioned they're potentially
purchasing another property. You know you would old advise to
speak to a real estate agent, you know, someone pressure
in that in that field in terms of buying a
new property in Spain. However, with any surplus capital or
funds money remaining after the a purchase of a new

(02:33):
property after selling your previous property, then that's where we
come in. We can provide some solutions options to house
that capital in a not only a secure and protective
manner but also to provide some tax benefits to allow
some an element of growth. Obviously, according to yourself or

(02:57):
a client's attitude to to risk, what type of access
requirements they need, family objectives not only tax whilst individuals
are living, but also tax on death. You know, how
will that asset of those funds be taxed and how
can we reduce that inheritance tax.

Speaker 5 (03:18):
So it does come down to the individual circumstances.

Speaker 3 (03:20):
But there are solutions that are designed specifically for Spanish
tax residents that are protective and also provide tax benefits,
but they're not actually based or located in Spain.

Speaker 5 (03:34):
They're in tax neutral jurisdictions.

Speaker 3 (03:37):
Quite popular would be would be island channel islands. They're
quite popular for the Spanish design products.

Speaker 1 (03:45):
Can I just say something, Josh sorry, if you've got
any personal questions, Kevin or anything like that. Obviously you
know you might not want to speak to put it
out on live on the air here, So there is
you know, there's going to be a link that I
send people later on where you can get in touch
with Josh directly, and you know he will answer your

(04:05):
questions on a more personal personal basis. If you need
to get hold of him that way. There's a link
to his website which I'm going to put up now,
So if you want to get hold of Josh, then
you can get in touch with in that way. So
if it's anything personal, you know about finances, don't like
to discuss it, so we keep it generalized questions here.

Speaker 6 (04:27):
Yeah, I mean I think obviously one of the things
I didn't want to sort of like take away from
what you're just saying about the selling of the property,
because obviously every person's circumstances is going to be a
little bit different. But I mean, I don't think we're
obviously thinking about moving over to Spain. We don't want

(04:49):
to be pressurized into buying a property straight away. We
want to do our research.

Speaker 4 (04:55):
So would you.

Speaker 6 (04:56):
Say that waiting you sort of like get the non
lucrative visa put then getting that, putting your house up
for sale, getting a sale for the UK property come
over here and then do some research and then then
obviously look at buying a property within Spain with would
probably be the right the right path to take.

Speaker 3 (05:18):
Yeah, I would say that for yourself and for majority
of people moving over to Spain. You know, don't tie
or lock yourself into a property in a certain area.
You may, you know, after six months, regret that decision,
not like certain things in the area and the location.
You may prefer another place. You may have friends in
another town or city that you that you find, that

(05:42):
you that you meet. So I'd always recommend test of
water's rent, try different areas, you know, six months here,
twelve months there, until you've you're you're happy with where
you're going to be living, and then you can look
to purchase in that area. And then obviously then you
can look at other options with capital and funds that

(06:02):
are maybe available to enhance time.

Speaker 6 (06:06):
But yeah, I think that's the sort of like the
feedback that we sort of like when we read lots
of people's making comments. I think that seems to be
the relatively the best way to do it. And you're
not just look like you're not put yourself into a
pressurized sale, like you said, where you probably regret something,

(06:28):
sorry buying for.

Speaker 5 (06:30):
Sure, Yeah, I would recommend.

Speaker 2 (06:31):
I mean, I just jump on here, Kevin.

Speaker 1 (06:33):
I mean, I've been here twenty three years, and as
you probably know, but when I first came here, I
was eaching to buy a property here myself you know,
I'd sold my house in the UK and I had
over one hundred grands is sitting in the bank, you know,
and I was eaching to buy a property and I
was advised to rent for a few months first, and
I didn't want to do that.

Speaker 2 (06:52):
I didn't want to. I thought it was a waste
of money.

Speaker 1 (06:54):
But really the place where I thought I was going
to live was not where I bought. In the long run,
I bought a little bit further down, about ten minutes.

Speaker 2 (07:01):
Down the coast.

Speaker 1 (07:02):
So I'm really glad I didn't because, as you probably know,
when you're buying in Spain that the expense is to
buy to set up in the taxes are quite expensive
in regards to Spain in comparison to the UK, so
you want to get it right the first time. And
my money was sitting in a bank doing nothing, earning
me almost no interest at all. So you know, if

(07:22):
i'd known somebody like Josh at the time, he probably
could have given me some better advice. I mean, I
had done money sitting in a bank for almost ten
months before I actually went out and bought a property,
so that could have been earning me some money. And
you know, one hundred grand. It was just over one
hundred grand sitting in the bank doing nothing. And I
mean the Spanish interest rates were terrible. But renting is
a good way. Don't take any notice of what people

(07:44):
say about as a waste of money, because you know,
you've got to get it right the first time, really,
and it is a big move. It can be expensive moves,
So you know, renting is a very good idea, I think,
and I.

Speaker 6 (07:55):
Suppose that even with a little bit of interest that
you get on your money would help to offset the
rental anyway.

Speaker 5 (08:03):
Yeah, yeah, sure, So.

Speaker 4 (08:08):
Do you mind if I just touch on one or
two other things? Do you mind that?

Speaker 5 (08:12):
I guess we some of Kevin's questions.

Speaker 3 (08:16):
If you needed to have a conversation, we can always
follow up near to the time that you move into Spain,
and then afterwards we can do the recording and I
can explain about the company, who we are, what we
do for for David.

Speaker 6 (08:29):
Yeah, I mean we've looked at obviously the minimum requirement
for your how much money you need to have each
each year as a main person and a dependent. We
am I reading this right that it's for myself and
my wife is thirty six thousand euros a year at

(08:50):
the moment, you're.

Speaker 1 (08:51):
Looking at a non lucative visa, are you, Yeah, sorry,
the non lucrative visa, yes, sorry in that case, Yeah,
it's around, it's around. The official figures are twenty seven
twenty eight thousand for the first person, around seven for
the second. So looking around thirty four thirty five. Depends
where you go, depends what region are spying now vary
a little bit, but yeah, you're in.

Speaker 6 (09:12):
A right Paul Bark there can I just you'd probably
be to talents then, do you know if that's we
worked out to say it's thirty six thousand euros a year,
is that the money that you would actually have to
have after taxes and never think you would take into
consideration in UK or because obviously we do pay some

(09:34):
taxes in UK because we have government stroke civil servant pensions,
so we actually that that will obviously make for some
taxes which we pay and I presume we still carry
on paying when we come over to Spain.

Speaker 2 (09:53):
Yeah.

Speaker 1 (09:54):
Well, I don't know if you want to answer that, Josh,
but I just jump in quickly because I did an
interview with Alejandro and the British Concert found Mare a
little while ago. This week actually we talked about the
visas and stuff and the money that they are asking
You can be in a form of a bank account
in the UK or Spain, or investments or assets to

(10:14):
the value of so it's pretty liberal there. And depending
on where you go. I mean, some places in our
Maria they've asked for less, some places down in Malaga
they're asking for more. But that has to be you
need to be able to have funds available if you
need it in that region of that figure. The idea
of this is to see that you can look after

(10:36):
yourself for at least the first year in Spain. That's
really why they're asking for that amount. And also the
other thing is it's compulsory to have a one year
insurance policy for the people that are coming over as well,
and that needs to be paid in full one year
in advance for your application.

Speaker 4 (10:53):
Sorry, is that for health insurance?

Speaker 6 (10:56):
Is that?

Speaker 2 (10:56):
Yeah? Private health insurance, yeah, before ES one and all
that lot. Yeah.

Speaker 1 (11:01):
And if you need any links to discounts, obviously I've
got experts and give you free consultations like Josh will do.
And on the health insurance and visas, you know, I
always say talk to somebody, have a private consultation with me,
because everybody's finances and personal.

Speaker 2 (11:19):
Requirements a little bit different.

Speaker 1 (11:21):
So maybe later on after this webinar you can jump
on a call with Josh and he can give you
some more details, personal details which would be right for you.

Speaker 2 (11:31):
Yeah.

Speaker 4 (11:32):
No, that's brilliant, thank you.

Speaker 6 (11:33):
I think on ours that was our main question was
really about the finances, you know, sort of like on
the house purchased, the right way to do it, which
should you've just sort of like confirmed what we thought
was the idea way to do it, and obviously the
amount of money that you need to produce each year

(11:55):
to go in within that threshold.

Speaker 1 (11:58):
Yeah, it's difficult to give, you know, everybody the answers
because it does vary a lot. But that's why, you know,
the idea of this webinar and is to get you
in touch with people like Josh that can set it
all out for you and give you an idea of
you know so, and it's a free consultation, so he
will tell you exactly what is right for you, what
you're doing, you know, and you can go into a

(12:20):
bit more personal details with him and at least have
you got a person a piece of mind, then you
you know you've heard it from an expert rather than
somebody on Facebook.

Speaker 6 (12:29):
So would you would you would you suggest? I mean,
I don't know if this is the right forum, but
would you suggest when we apply for a non look
at your visa? Then obviously we're not intending on working,
we don't need to do any of that. So it's
a little bit more probably be a bit more simple
than somebody who's having to put in for an application
when they're working, because they need obviously references and where

(12:51):
they're working and eth is it. Is it advisable to
go to a proper person to fill it in for
you or is it quite simple to it yourself.

Speaker 1 (13:01):
My answer is you can do it all yourself. You
can do most of it online, but I wouldn't do it.
The reason I say that is because you know it's
something important like this, you want to get it right
the first time, so it's always best to pay somebody
and pay a professional that's doing it all the time,
and then you've got it.

Speaker 2 (13:18):
You've got it done. I know people that are doing it. Hello,
you did it?

Speaker 1 (13:22):
Yeah, yeah, absolutely, I know people that have tried to
do it themselves, so they've saved some money, gone to
a friend that's been recommended to them, and then later
down the road they found out they've got the wrong paperwork.

Speaker 2 (13:34):
For example.

Speaker 1 (13:35):
You know, there's there's some people that are doing the
are you still there?

Speaker 3 (13:44):
If it the camera goes and comes, so it looks
like you leave, but you're still there.

Speaker 2 (13:48):
I'll keep talking.

Speaker 1 (13:50):
Yeah, you know, I've heard people are getting the non
lux divisa and they've gone for the insurance and they've
paid for it.

Speaker 2 (13:57):
I've got it all ready, and then.

Speaker 1 (13:59):
When the date comes up, uh, I haven't got a
full year left on it, so they've had to do
another insurance because they ask you for a full year.
So there's things that need to be done in the
right order, you know, to save yourself time, money and stress.

Speaker 2 (14:13):
So I'm sure Josh can talk a little bit about that.

Speaker 6 (14:16):
Yeah, I suppose you know, when you when you go
eventually to the to the Spanish console and you're with
all your paperwork and if it's if you filled it
in yourself and it's not correct and you and it's
your fault, then you've obviously got to pay for another
consultation with the Spanish thing then it's it's more money anyway.
So it was just more of a case of you know,
which is the best way, and it's does sound as

(14:37):
though it's best to use a professional person to do that.

Speaker 3 (14:43):
I wouldways recommend so in any any field really, unless
you're absolutely confident and the Spanish is at a good level,
especially for things you know, you're based you look into
and receive advice things based in Spain, and yes, when
you're looking at you know, bureaucuous, it's always advisable to
have someone that can help you with with the paperwork,

(15:06):
et cetera. Yeah, it's just time and stress and potentially
more money than it needs.

Speaker 6 (15:11):
To Yeah, yeah, I get that, I understand. I just wonder,
you know, because you do read sort of look at
forums and some people say, yeah, it's dead easy.

Speaker 4 (15:21):
I've done it myself and did do.

Speaker 6 (15:22):
And all that lot, and then obviously got the other
side of the coin where people have said, well, which
is what you've said as well. I think I'm more
drawn to the let the professionals do it than have
the stress and.

Speaker 4 (15:36):
All that love doing it myself.

Speaker 1 (15:39):
Well, thanks for the questions that the mind hang on
a minute, Kevin, because Josh, I just wanted to ask
you what we talked about earlier about you know, a
few questions I've read from the radio show from people,
you know, what is a safe way of investing their money?
You know, is there a safe way? I mean nothing
safe in Spain really is it when it comes to money.
But you know, people want to invest some of the

(15:59):
money for a short term. What what sort of thing
do you recommend? There are safer things, options and others
would you recommend?

Speaker 3 (16:07):
Josh, Yeah, there is, there's there's a whole range of
options available to expats, and anyone living in Spain actually
doesn't have to be expats. So that's why it's important
to look at an individual's circumstances, accessibility, needs.

Speaker 5 (16:23):
Of when they're looking to withdraw, if they.

Speaker 3 (16:26):
Need an income, and then they're you know that the
security that they may require or the assurance that you know,
the money is not going to reduce in value, it's
just going to increase a little bit if they are
quite risk adverse. So there are products that I mentioned
earlier that are specifically designed and built for residents.

Speaker 5 (16:48):
In Spain Spanish compliance investments.

Speaker 3 (16:53):
So these are product providers, some household names there such
as Prudential. A lot of people know from the UK
and the man from the crew they provide a secure
and they called it a smoothing return investment where they
try to ease you know, if you look at any
investment graph, you know you have these ups and downs.

(17:15):
They try to remove these ups and downs, it's podantility
and provide a smooth and consistent return for clients. And
then those returns are tax efficient for Spanish tax residents.
So what I mean by that if, for example, if
you had an individual had an property in the UK,

(17:36):
or an investment in the UK, or an ISA, for example,
they're made for UK residents. As soon as you move
away from the UK into Spain, that investment, whether it's
a property or an ISA or any other investment is
looked through in the eyes of asciendo, in the eyes
of Spanish law. And upon any investment change, any sale

(17:58):
of the investment. When again, whether it's traditional investments or
it's a property, there's a tax to pay on that gain.
What is available, such as the Spanish compliant investments to
individuals here is that the on sale of any of
the assets or when you make a change, or when

(18:19):
you take a withdrawal, it's done so in a tax
eficient way. Changes within the plan could be done so
without any tax, so it's called tax deferred or gross
roll up.

Speaker 5 (18:29):
And then tax is only paid on the withdrawal.

Speaker 3 (18:32):
And to give an example of that taxation on the withdrawal,
it's only only the growth element of the withdrawal is taxed.
So one, if it doesn't grow, there's no tax on
the withdrawal. And if it does grow, which we assume
it will. Say, if an individual invested one hundred thousand euros,
it grew to one hundred and ten thousand, the client

(18:55):
took ten thousand out of that investment, then only ten
percent because that investment has grown ten percent from one
hundred thousand two hundred and ten thousand, Only ten percent
of the withdrawal is liable for tax at Spanish savings
tax rates rather than Spanish income tax, so that can

(19:16):
you can make the most of different tax regimes and
tax allowances. And then that is based on a nineteen
percent rather than the higher rates for income tax. So
based on a ten thousand withdrawal, there's one hundred and
ninety could be pounds or euros whatever for plant wishes.
Only one hundred and ninety is liable for tax, and

(19:37):
that's an effective rate of one point nine percent, whereas
you know, a non compliant investment you'd be looking at
nineteen twenty one or twenty three percent.

Speaker 5 (19:49):
Taxation. So you know, these are.

Speaker 3 (19:53):
Ideas of what are available to people here in Spain.
People just aren't aware of what is available, and that's
why we're it to provide the advice to help that
may be needed.

Speaker 1 (20:04):
And Josh, when when somebody's is this something else? I've
been asked as well. You know they've sold a property
in the u kin of movie and over the Splain.
What'd your advice about transferring the money? Should it go
straight from a UK bank to a Spanish bank? Is
other benefits of doing it a different way? What would
you recommend on that?

Speaker 3 (20:25):
I would always recommend someone to keep the absolute minimum
that made that they need in a Spanish bank account.
You've probably heard it, other people have heard it, embargoes,
freezing of accounts. These all occur, you know, based on assets, funds,
money in Spanish bank accounts.

Speaker 5 (20:43):
If the money is not in a Spanish bank account, then.

Speaker 3 (20:48):
The Spanish government cannot freeze, cannot embargo, cannot dip in
and take the funds whenever they wish, which is a
common fin here if if a parking fine is not
paid or as a death of one of the bank
account holders, you know, until the tax is paid, the
money is not released to the to the surviving spouse
or surviving account holder. So I would always recommend to

(21:10):
keep the absolute minimum. If someone is transferring across any
funds to use an exchange service, we can help with
with with providing a recommend a recommended exchange platform for
an exchange company who provide good rates, low fees, a
lot better than banks, that's for sure. And again, if

(21:31):
someone is keeping the absolute minimum in Spain, then keep
the funds. If an individual needs access, then keep the
funds in an accessible account, the funds that look If
the client is looking for a bit of growth or
not such short term access needs, then hold the funds
in an investment that can provide some yearly returns. But

(21:54):
at the same time need to bear in mind off
the reporting requirements in Spain. Any assets based outside of Spain,
and that is when I say assets that could be
property maney in the bank, any normal investment land these
need to be declared to the Spanish authorities.

Speaker 5 (22:12):
It's actually coming up in a few days time.

Speaker 3 (22:14):
It's every thirty first of March via an overseas tax
decoration and then the asset above the value of fifty thousand,
and that's combined of all the assets combined that is
outside of Spain needs to be declared. So again there's
different ways and means based on clients' wishes, and that's

(22:35):
why it's important to speak to a professional to understand
exactly what is best according to the client's goals and wishes.

Speaker 1 (22:44):
Yeah, you're based down in Malaga, Josh, but you know,
it's like everything's online now, so you can help people
all over the place, So it doesn't matter if location,
does it.

Speaker 3 (22:55):
No, we have clients all over Europe. Actually we're regulated
a license across Europe. We do have majorities of our
clients in Spain. I have many clients in the cost
of Blanker region, cost of del Soul, where I'm based
with clients Barcelona, Galicia, Zara, Gotha. We've got a couple
of clients, you know, So the clients all over Spain.

Speaker 5 (23:14):
I do try to travel a lot to see clients.

Speaker 3 (23:17):
But as you said, David correctly said, you know, COVID,
the one silver line of COVID is allowed. It's opened
up this this online space and people are more just
you know, comfortable with with video calls and everything we
do we can we can do via online communication anyway,
but it depends.

Speaker 5 (23:36):
On the client.

Speaker 3 (23:36):
The client wishes for more face to face meetings and
we could do so.

Speaker 5 (23:40):
If not, then you know, we can do so via video.

Speaker 1 (23:44):
Yeah, Kevin, you know, a free consultation with Josh. There's
no obligation at all. So you know, when when are
you thinking of moving over?

Speaker 2 (23:55):
Kevin?

Speaker 6 (23:56):
H Well, it really depends on the circumstances of my
wife's parents, because dad's not very well in the care
and so it's it's horrible to think of, but.

Speaker 4 (24:09):
Things can change.

Speaker 6 (24:10):
Very quickly if he patters away. So obviously we want
to be there for the for the mother as well.
So but we we are, we are looking at probably
beginning of next year. Yeah, I mean we're quite literally
just down the road from from Maliga.

Speaker 4 (24:27):
We're in ben and Ladama at the moment anyway.

Speaker 5 (24:30):
Oh that's where our first moved too.

Speaker 6 (24:33):
Yeah, we're just quite literally just down the road. So
for us to come and visit you. It's a quick
train journey.

Speaker 5 (24:39):
Exactly, a nice and nice and convenient by the train.

Speaker 4 (24:42):
By the red Yeah, you know.

Speaker 6 (24:45):
So, yeah, that's that's our thoughts. Anyways, early next year, January,
probably February, things like that.

Speaker 4 (24:55):
What you can do, sorry.

Speaker 3 (24:58):
What you could do if you want together, you could
just pop me on the contact details, pot me an
email or even a WhatsApp, our numbers on the website,
and I can make a note to get in contact
with you later in the year, early next year, and
then we can have a chat near that time.

Speaker 6 (25:16):
Yeah, that would be brilliant, Thank you very much. Yeah,
I'd appreciate that because I think we're definitely it's definitely
the route we're taken. And obviously you've answered the main questions,
which is what we were obviously concerned about with the
house purchase and the and the tensions and things like that,

(25:36):
you know.

Speaker 2 (25:37):
So yeah, without going into too much detail as well,
we've also.

Speaker 1 (25:40):
Got this property that we're in at the minute, which
is my mother's and she's elderly.

Speaker 2 (25:44):
We're just wondering how we'd actually handle that when it
came to the time as well, wouldn't we?

Speaker 6 (25:48):
Yeah, Yeah, because I don't know if you probably caught that,
but at the moment we were in ben and Adama,
but it's mum and Dad's parliament that they had like
for thirty odd years. So obviously we would need to
speak to yourself probably as to when you got around
to selling it and should probably come and live with
us and maybe in a different part of Spain and

(26:10):
things like that.

Speaker 4 (26:11):
And the implications and everything for that.

Speaker 2 (26:13):
Yeah, I think also Josh as well.

Speaker 1 (26:15):
You know, people need to be aware of the when
you're selling a property over in the UK and stuff,
the tax, you know, the obligation to pay the double
tax or not pay the double tax. So there's there's
a certain do you want to just talk about that
a little bit, Josh, So people are aware of that.

Speaker 5 (26:33):
Yeah, for sure.

Speaker 3 (26:34):
It's you know, if we for in Givens case, for
us property that's in Spain, there will be a coup
to gain tax liability if the property is in Spain.
If it's a second property, that is not if it's
the main residents. There are a few different rules around that.
At the same time, if if an individual holds a

(26:54):
property in the UK, it's sold if it's their second
if it's their main residence and it's sold and they
move over to Spain, then there will not be any
capital gains tax liability because you're selling one property to
go into another, just living at both of those properties,
and you're just moving your main residence.

Speaker 5 (27:13):
Over, Whereas if you are if you have a main.

Speaker 3 (27:16):
Residence and you sell a second or third, fourth property
and it's in the UK, then there will be a
capital gains tax liability in the UK to pay because
there is although there is a double taxation agreement between
the Spain and the UK for capital gain tax, the
UK with whole tax on that sale and then any

(27:39):
difference that's that's that's that is required.

Speaker 5 (27:43):
To be paid in Spain.

Speaker 3 (27:45):
Spain capital gains tax is slightly maybe slightly higher in
the UK depending on the amounts sold and the gain accumulated.

Speaker 5 (27:52):
Then that differences is paid in Spain.

Speaker 3 (27:56):
You know, to give you an example, if it's twenty
four percent in in the UK and then it's twenty
seven percent due in Spain, then the twenty four percent
is paid in the UK and the three percent is
paid in Spain. However, there are ways and means to
reduce that taxation by speaking to a professional based on
individual circumstances and how those funds can be structured moving

(28:22):
forward from the sale of the property. So again crossboard advice,
is is is advisable to understand the options?

Speaker 4 (28:33):
Can I just have one thing.

Speaker 6 (28:35):
We've heard it's probably a bit of a red hairing
really that obviously Santander in UK. Oh, Santander is a
is a Spanish bank and obviously there is branches in UK.
Is it advisable to open up a Santander account in
UK to be able to transfer the money when needed

(28:58):
in Spain? Or would it be It's exactly the same
as if you had a nat West and correct is
what you're on about.

Speaker 4 (29:05):
It doesn't does make a lot of difference.

Speaker 3 (29:07):
Yeah, although although I've had this question before, and although
Santander group, you know group of companies hold UK entities
Spanish entities, there's no similarities between the two accounts. So
if you hold account in the UK or in Spain,
they won't look at you.

Speaker 5 (29:25):
Oh you're go into another country. It's going to be easier.

Speaker 3 (29:27):
Again, it's it's treated exactly the same as if you
were to have a nationwide account and a Sabadel account.

Speaker 5 (29:33):
Here in Spain.

Speaker 3 (29:34):
You know, there's there's no correlation there, but yeah, it
would make sense, but no, there's there's there's no need
to do that.

Speaker 1 (29:42):
Yeah, no, I I feel that that might be the
only thing I say, Kevin is I'm with Santander and
I have been told by one of the staff members
that if I had a Santander account in the UK
to transfer small amounts of money, it's a bit faster.
That's the only thing, because it's going from Santander to Santander.

(30:02):
But I haven't tried it myself because my English bank
account I've got is is with Barkley, so it's totally different.
But the other thing I say about Santander here, I
recently changed the mortgage I had with them, and they
are given one of the best rates at the moment.
They do a fixed rate mortgage. Some of the other
Spanish banks here haven't offered me that. And also what

(30:25):
I like with Santander is that if I do a
transaction like today I've been and bought some materials on
my card, straight away Santander send me a message, a
text mess to say that that transaction has gone through
and there is an option to cancel it.

Speaker 2 (30:42):
In case it's a fraudulent transaction.

Speaker 1 (30:45):
I suppose other banks probably offer that as well, but
this is something that I found fairly new with Santander
last year and I quite like that service. You know,
if you're going to put petrol in the car straight
away it comes up. You know, did you spend twenty
euros on petrol? Cancel it if you want so. You
know that that's quite handy to do that.

Speaker 4 (31:04):
Yeah, that's brilliant, Thank you very much for that.

Speaker 5 (31:07):
Yeah, they're good. I like Stand as a Spanish bank
account for sure. I really do.

Speaker 3 (31:13):
BBVA are good as well. It's just about having the instancy.
They all have good apps these days. I'm sure David
use the app Santander. It's nice and simple, straightforward. That's
what we want. Really, nothing to well.

Speaker 1 (31:26):
If you're needing any money, like if you want a
loan or you want a mortgage. I've been with pretty
much all the banks here over my time in Spain
and they're all the same. They're all a business trying
to get the most money out of you. I found
the best way is to go to a new bank
as a new customer, say that you're going to open
up an account, you know, you're going to put all
your direct debits in there and they give you better service.

(31:49):
I was with a bank of Popular, which was has
changed several times, Bank Bank here, Banking Deal or whatever
you call them. They've been bought out a few times.
And I've been with a banks for years and they
wouldn't give me the same benefits on the mortgage and
the fixed rate as if I went to as IF
I walked in off the street as a brand new customer,

(32:11):
and I'm with Barclays as well, and Barclays with Kakamar here,
and they wouldn't give me the mortgage I wanted. But
they said to me in person, if you were a
new customer coming in off the street and opened a
brand new bank account, we'd give you these better rates.

Speaker 2 (32:26):
But as a long term customer, they wouldn't give it
to me. So my mortgage.

Speaker 1 (32:30):
I canceled my mortgage with one company and moved to
Santander as a new customer and got better rates. So
you really do need to shop around once you're here.

Speaker 6 (32:39):
You know, Yes, yeah, I have heard that before, and
actually it has happened a few times in UK with
you know, new customers get better rates for somebody who's.

Speaker 4 (32:51):
Been with a bank for twenty thirty forty years.

Speaker 2 (32:55):
Yeah, they're looking out for new business.

Speaker 1 (32:57):
I think a lot of it is because they get
a sign up commissions for a new customer, so they
get a lot more than that.

Speaker 2 (33:02):
Yeah, but I don't know.

Speaker 1 (33:04):
Yeah, So, Josh, anything else you want to say before
we round it up?

Speaker 5 (33:10):
No, I'm sure I have been for for yourself, David.

Speaker 3 (33:13):
I know you wanted to record it and do some
videos and send to put it onto your onto the sites.
What I could do is just introduce the company for
you to edit it and then put it into their
introduced company and summarize what we do.

Speaker 5 (33:25):
So then you've got that.

Speaker 1 (33:26):
Then for Yeah, I definitely, because we didn't get off
the regod start, it's just straight into it. But I'll
do an introduction and I can put that on the
end because I'll use this recording for some of my
shows and stuff. So brilliant. Thanks for joining us, Kevin.
Is there anything else you want to say before we go?

Speaker 6 (33:44):
No, I'll just what I'll do is I'll make a
note of the the contact details for obviously for Josh
and also for the person that you mentioned about helping
us with the non lucrative visa.

Speaker 2 (34:00):
Yeah, and are you remember on my on my Facebook group?

Speaker 6 (34:04):
Uh, yes, Katrina is Yeah, Katrina message you the other day.

Speaker 1 (34:11):
Okay, yeah, I remember Katrina. So yeah, I've got an
information page there. So you need to do is put
your name in your email and that gets automatically passed
on to Josh so he can contact you in the future. Also,
there is a visa expert and also a health insurance
company and they will contact you and give you a quote.

(34:34):
It's no obligation at all. You can go and look
out somewhere, and I recommend you do shop around. But
these are people that I've worked with, like Josh. You know,
I've known these people and the people that I trust
to help my listeners and followers.

Speaker 6 (34:54):
You've got to have private one for at least a yeah, yeah,
this is what I said. Yes, okay, I'll explain to
my wife anyway. But thank you for your time, Josh,
and I'm sure I'll be in contact with you, hopefully
this sometime this year, if that's okay.

Speaker 5 (35:10):
Perfect, Kevin. Yeah, yeah, just reach out whenever, whenever the.

Speaker 6 (35:13):
Time, like I said, Like I said, we're just down
the road at the moment. We were planning on coming,
but at the moment we're coming to visit Spaying twice
a year. We drive over because we've got two dogs.
But we would have normally come over about October November time,
but with us intending on moving over full time, that's

(35:35):
hence the reason why we won't be doing probably another
one so early next year. Okay, right, okay, but we
will we will touch basically, there's no doubt about that.

Speaker 2 (35:46):
Yeah, good time joining us, Kevin. Cheers. I appreciate it, Kevin.

Speaker 6 (35:50):
Thank you, and I'll get Katrina to have a look
at that link for the other things. Thank you for
your time. Jeers, Kevin, Okay, thank you very much.

Speaker 2 (36:01):
Ye