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Before you pack your bags to enjoy your retirement in sunny Spain, it's important that you have full information on the potential pitfalls and costs which you may encounter.  

It is not always the fulfillment of a lifelong dream to live in a sunny climate by the sea that leads people to move to the Spanish coast when they retire.  In many cases Spain is considered to be the most affordable option, in terms of property prices, heating bills, grocery shopping and things to do in the great outdoors.

In late 2012, as we reported, the Spanish tax agency announced a tax amnesty allowing Spanish residents to declare any assets held in their name, and to pay tax at 10% of the amount declared. The end result was that less than half of the government estimate of 2.5 billion Euros was raised.  On 31 October 2012 new legislation came into force in Spain with the specific aim of combatting tax fraud.

The new legislation facilitates communication between the Spanish tax agency and tax authorities throughout the world.  It also requires all companies and individuals considered to be tax resident in Spain to declare all moveable and immoveable assets either owned by them, or within their control, situated either within or outside of Spain.

If you live in the UK and own property in Spain it is advisable that you have a Spanish will as well as a will dealing with your UK assets.   Here we will guide you through the reasons why British nationals make Spanish wills and the procedures you must follow in order to do so.

The best reason to make a Spanish will is that it will make it much easier to administer your Spanish estate upon your death.   In fact a well drafted English will can have the same results, but if you have the option it is always better to deal with your Spanish assets in a Spanish will.