Update on Spain; Covid, Brexit and even time for some fun!

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Welcome everyone to our latest Spanish Solutions update. 

Spain is recovering as well as can be expected, despite the impact of COVID19. This week’s figures as of 27/11/20 are 1,637,844 cases to date with, sadly, 44,374 deaths. While the current border closure and night curfew restrictions are set to be reviewed on 9th December, 2020, the president of the Valencian community, Ximo Puig indicated on 19 November, that proposed Christmas restrictions will be finalised during the second week in December. So, having likely felt like a teenager who has been grounded and wants to sneak out a window, when restrictions are eased, staying out late will make you feel naughty and FREE!! Who would have thought in 2019 that such simple things as crossing over the border would be a luxury this year. We had it made, little did we know! Senor Puig has indicated what has unfortunately become pretty obvious, that it won’t be a normal Christmas and decisions would be based on the rate of infections between now and then. We’ll likely all be needing a smaller turkey and the rules may even be the same across the entire country (except of course those with higher rates of infection). 

Maybe you’re thinking of opening a Business here? 

Did you know that according to our business experts in Spanish Solutions, you need to watch out for the following things if you are buying a business in Spain: 

1. Clients – do they exist?

2. Study the business’s marketing 

3. Conducting market analysis 

4. Finding out how people perceive the business 

5. Researching industry trends 

You’ll see more over on the blog: 

https://www.spanishsolutions.net/blog/businesses-in-spain/dont-forget-your-due-diligence-when-acquiring-a-busines s-in-spain/ 

Of course SS are here to help you with everything. 

Brexit negotiations seem to be gaining pace in the right direction. The exit of Dominic Cummings from 10 Downing street, before he was pushed, seemed to have raised the vibration of the talks. Whether it was devised by Carrie Simmonds, the Prime Minister’s real advisor, if rumour were to be believed, is by the by. Ding dong the wizard’s dead!! However, the recent ‘Canada style deal’ that the UK was proposing has been thrown by the wayside as the EU wasn’t in agreement. On the table now is purported to be an ‘Australia style deal’ which is really a fancy term for ‘no deal’. This is based on the ‘framework agreement’ signed between the EU and Australia in 2017 which loosely agrees on facilitation between each party, including foreign policy, security, trade, etc. With the UK approaching the final furlong of the race to a deal or no deal, if Boris is to quell concern that he has Covid fog, some sort of a deal might help him push back up his popularity rating. 

If you are thinking of making the decision to relocate to Spain or you are worried about your assets in Spain after the Brexit deadline, please let us know. 

Speaking of Brexit, many people are thinking of making the move to Spain. According to an article in the Olive Press, there may soon be a lot MORE Britons in Spain. An 18% increase in British people were viewing Spanish property online during the summer months of this year, compared to 2019. Remote working is playing a huge part in the decisions of those who had previously only ever seen a move to Spain as a dream. Now the reality for many wanting to move to a warmer climate is becoming more attainable. Arthritis doesn’t just appear after you’re retired

and it’s so much better in the sun. A “work from home culture” is emerging and likely to gain momentum, long after Covid19 is a distant memory. With greater infrastructure than ever in Spain, reliable internet networks and a need for a move towards a more balanced lifestyle in general, where better to move? As the old saying goes…
“seek and you will find”. Here is the article in The Olive Press which gives an in depth analysis of the information gathered: https://www.theolivepress.es/spain-news/2020/11/17/lockdown-drives-30-increase-in-brits-considering-a-move-to-eu rope-and-spain-is-top-of-the-wish-list/ 

Equity Release Investing 

Are you thinking of investing in Equity Release real estate in Spain? 

We are currently working with two independent funds who are offering our clients up to 50% reductions on the value of the properties they are selling. The payment terms really suit some of our investors too. These are asset backed investments releasing equity for elderly retirees wishing to unlock the capital in their homes. Here is how investing works, 

https://www.spanishsolutions.net/blog/bare-ownership/investment-opportunities-in-equity-release-spain/

Two typical examples of the types of deals are the following. 

1. A down payment of €200,000 on a €620,000 property, with monthly payments of €1,000, leaving the current owner, a 75 year old male, in residence. Return on investment: 21.5% 

2. A downpayment of €46,000 on a €75,000 property, leaving the current owner, a 62 year old male, in residence, paying a monthly rent of €320 to the investor. Return on investment: 11.6 % 

We can link to two BARE OWNERSHIP or EQUITY RELEASE properties on https://spanishhomes.online/ 

Summer 2021 may bring us a reprieve from restrictions if the apparently viable vaccines being publicised and those yet to be finished, do their job. Looking into a crystal ball, we’d hope to see them having been distributed with enough of an uptake to reduce transmission of Covid, sufficient for the world to be able to take a deep breath and reset. People singing and dancing together would be a welcome sight, in the same room, as close as they choose, shaking hands…even hugging…if they dare! Masks could be a thing of the past…though maybe a few seen here and there and airports at increasing capacity, tourists flooding back to the Spanish costas, wouldn’t that be fabulous! Envisioning the rusty wheels of the tourist industry oiled and chugging back into operation, jobs, jobs and more jobs, the economy gaining strength once more, would bring a smile to many faces! 

Good News Article 

Modern technology has paved the way for a group of six salsa dancers to continue to move to music, in rhythm as one, despite the restrictions of the pandemic. A radio loop and simple cordless earphones, through which only they hear the music!! The silence around them is broken only by the sound of their feet touching the ground, not disturbing anyone as they dance holding plastic piping, shaved to a length of 1.2 metres each. Just like the war years prompted innovative thinking, this group of three couples from the Salsa Tabacalera dance troupe in Jardin del Rastro, Madrid, found a way to continue dancing. The innovator is their teacher, 52 years young, Juan Margallo, a lighting technician and musician. The troupe include Peruvian and American dancers, who feel that they are

forming a type of resistance to the oppression that the world is facing right now while keeping within the rules and celebrating life. 

Well, that is all we have room for just now.You’ll get more info over on our FB page. Spanish Solutions Legal and Tax https://www.facebook.com/Spainsolicitor Karen and the Spanish solutions team.

2 Comments

  • Rav

    Hi

    Please sign me up for your newsletter.

    I do not authorise you using my data for anything else or to pass to 3rd parties.

    Thanks

    Rav

    • Jane

      Thanks Rav

      You are added to the list, we never pass data to 3rd parties.

      Kind Regards

      Jane

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