The current developments in South Africa are unfortunately calling for caution since many worrying trends start to show. But, we don’t advertise negativity. There are many people living happily in South Africa, and depending on their needs and positions, many are enjoying life. Let’s face it, it is one of the most beautiful countries in the world, and many Europeans at this very moment are immigrating or retiring there.
But, caution is needed. Things can change overnight, and sometimes, it is too late to react. This is why it is always good to have “Plan B” just in case. Or, regardless of the political climate, your current needs can justify a move or property purchase. There are many reasons why people decide to move countries or invest in different markets.
Spain is the country that offers that possibility. Its laws are not relaxed compared to other European countries. They are simply different because this is Europe’s retirement paradise, and, the laws had to cater for a couple of millions of Europeans and non-Europeans who decided to follow the sun and the quality of life.
There are many ways Spain can fulfill your dreams and be the right match for your needs. Let us give you a couple of examples:
You can, for example, work or run your own business in South Africa and obtain a residence visa for your family in Spain. Your family might get permanent residence in 5 years, which means free health care, schooling at European universities at subsidized prices, access to the labor market, and many more benefits. At a later stage, you can join them.
Or you are already working as an expat in an African country, or somewhere else, while your family is in South Africa and you are scared for their safety. They can easily come and live in Spain as long as you can support yourself. And you can visit them the same way you were visiting them in South Africa.
Or, you can sell your business, and move straight away, retire to Spain and enjoy much better health care system for a fraction of the South African price, invest in a property that will bear you at least 5% net in rentals + price appreciation which is at the moment more than 10% a year (selected areas 15%) with at least another 3 years of solid growth. Or you can sell your South African properties and invest in Spanish, obtaining not only Golden Visa, but reliable source of income in real currency – Euro.
Or, you can simply use your pension and live in Spain for most of the year. You need some savings and about 2.000 euros a month to be comfortable. That much money you will spend in South Africa anyway. Spain is one of the cheapest countries in Europe, and some expenses are much lower than in South Africa.
Or, your kids have grown, moved to Europe and it becomes very complicated to visit them and the grandchildren. By retiring to Spain, you will be able to see them much more often, and during the summers, they will change their residence for yours.
Or you can decide to relocate your business to Spain, open a company, move the operations, run a branch in South Africa. Or, do it the other way around: run a branch in Spain. Move the cost centers forward and backward. Choose where do you want to pay taxes.
Or, you can simply choose to buy a property, rent it out, use it during short South African winter school holidays, and wait for its price to appreciate. Or, buy a property but get a 50% mortgage in Spain, in times when bank interest rates are less than 2% and property value rises about 10% a year. And one day, when you decide to move, use it as a base to go forward.
The only thing you will not be able to do is to stay in Spain with no investment or savings. Money is a huge barrier even when you want to obtain a Schengen Visa, let alone your residence permit. Spain lets in people that can invest money, but, doesn’t’ give many opportunities to people that would need to find work to be able to survive. Unemployment in Spain is high enough, the language can be a barrier, and you need to be a permanent resident to be able to work. That, unfortunately, you can become only after 5 years. We are not saying that this system is just, but it is what it is, and we can’t change it.
There might be some other options suited for you, and more about this you can find out by opting for an online Skype chat with us that will put everything in motion. We are all in the different situations, and it is not possible to find out all the details by browsing the Internet and trying to decipher sometimes complicated law definitions.
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