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Brexit concerns are pushing many of the 300,000 British expatriates officially living in Spain to consider returning to the UK, which could have a significant impact on services such as the NHS.
Figures from the Spanish National Institute of Statistics (INE) have shown that in the last five years, the number of British residents living in the Iberian country has decreased by 157 100, observers indicating that this is happening. accelerated.
However, the figure of 300,000 would represent only those who have officially registered with the Spanish authorities, which many do not do to avoid falling under the local tax system.
the BBC estimates that as many as 760,000 Britons live in Spain.
This means that there could be many more British expats ready to go home because of uncertainty around Brexit.
Falling book
Commenting on the numbers, James Green, director of the Western Europe division of the deVere group, said: "Faced with fears, uncertainties and doubts about Brexit, a growing number of British expats in Spain are considering reluctantly to return to the UK. "
"It is our experience that has shown that most of those who reluctantly consider such a measure dreadfully fear a further devaluation of the pound.
"Of the 300,000 British nationals officially living in Spain, almost half are over the age of 65. A further decline in the pound sterling – which has received a monumental bloody nose since the vote on the Brexit – would be a serious problem for those who receive pensions or British pounds, because the cost of living would be considerably more expensive. "
Green also said the risk of seeing existing payments from UK companies, including pensions and insurance, could be disrupted. Other issues relate mainly to the rights to health and residence.
He advised expatriates to think carefully before taking the "radical decision" to return to the UK.
"I would suggest that people first consider all the options available to them, such as authentic solutions that offer tax efficiency, peace of mind, and low administrative problems.
"In recent months, many expatriates who were seriously considering returning to the UK have been able to successfully restructure their financial planning to capitalize on their expatriate status to take advantage of the tax privileges and legislation in place. investor protection. "
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