Spain Aims to Reassure British Expats After Brexit

Spain Aims to Reassure British Expats After Brexit

Spain and the Costa del Sol will always

be in demand with Brits 

Even though Britain voted to leave the EU it will be at least two years before anything changes for Brits living in Spain. The country is also eager to make arrangements and agreements to further reassure expats.

The final outcome of the EU Referendum in Britain came as a shock not just to the half of Britain that voted to remain but Europe as a whole. The acting Prime Minister of Spain, Mariano Rajoy, said that we must get through these times of uncertainty with calm and serenity.

He addressed the nation publically via a televised address in which he aimed to reassure Brits and Spaniards alike that there were to be no immediate changes, adding that it would be at least two years before any tangible changes came to pass. The formal notification of the Brexit still hasn’t happened yet either.

During this two year period the security and legal relationship between the UK and the rest of the EU isn’t going to change at all. So for the next two years at least there are to be no changes to pensions, free movement, electoral rights, and employment rights, along with the right to invest and buy Spanish property. These rights are safe until at least 2018.

Those two years are no doubt going to be filled with uncertainty however. The UK is keen to renegotiate some of their relationships with the EU. No one is quite sure how everything will end up after everyone lets go of their anger and stops blaming everyone else it’s entirely possible that Spain and the UK can come to an arrangement that benefits both countries.

As Brits are the biggest investors in Spanish properties and one of the driving forces behind the rise in the Spanish economy it only makes sense to arrange deals. Brits are also the largest group of tourists heading to Spain on their holidays.

Spain has an awful lot to lose if they make it difficult for Brits so it’s unlikely that any major changes will happen. The key features of the so-called “Divorce Agreement” are matters concerning budgetary and trade issues; though of course rights and regulations are also high up on the agenda.

When it comes to working, living, and investing in Spanish property, it would seem that keeping things how they are would be best for both nations. There are plenty of reasons for expats and citizens of both nations to remain cautiously optimistic.

The alternative – one in which Spain makes it difficult for Brits to buy property in Spain – would only benefit France, Portugal and Greece. Brits are still interested in buying property overseas and so other countries may try and make it just as easy as it always was for them to buy property there. They may actually make it easier with incentives. The “Golden visa” is a great example of how money talks in the property market.

There are some bigger concerns too; especially the concerns of expat pensioners. These concerns are mostly about their rights to access pensions and healthcare and they definitely present a concern. British retirees living in Spain currently have their pensions rise with the rate of inflation; part of the EU Agreement. It’s quite likely that this increase will no longer happen now that the UK has left the EU.

It’s also likely that the reciprocal healthcare enjoyed by Brits and Spain will come to an end, or at least change. There may still be some kind of “amnesty” for British pensioners living in Spain at the time of the Brexit or, at the very least, favourable terms for cheaper health insurance. Provided that the UK is willing to offer similar services to Spaniards in the UK in return.

As long as the Leave campaign fulfils their promises and the NHS gets a boost this seems likely to happen. If you’ve ever been treated at a British hospital then you know that the NHS is free at the point of use. With Britain leaving the EU this looks unlikely to change. It stands to reason that Britain will argue if they provide Spaniards with free healthcare that Spain should do the same in return.

There are a lot of unknowns about the Brexit and there will no doubt be more uncertainty before we know for sure what will happen. The British people have voted and, even though the result was a shock to many people in Europe, things will continue to change and we’ll have to wait and see what comes next.

Regardless of the Brexit outcome, Spain will always be a country that northern Europeans want to buy property, live and holiday in. why? because the sun will always shine here.