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How high-net-worth Brits are still heading off for a sunnier life in Spain post-Brexit

We take a closer look at why high-net-worth Brits are still looking to sunny Spain for a luxury lifestyle despite the issues caused by the UK leaving the EU.

By LLM Reporters  |  December 31, 2021
Summer holiday on El Duque beach in Tenerife, famous Adeje coast on Canary island - Spain

Famed for its long, sandy beaches and balmy weather, Spain has long been the favourite travel destinations amongst British sunseekers, and with enticing property prices and excellent investment opportunities, too, it’s little wonder that it has also been the preferred destination for those looking for a second – or new – home abroad for generations.

But, in light of the UK’s departure from the EU, many have given up on their dreams of sun, sea, sand and an all-round luxury lifestyle in Spain, with free movement of people no longer permitted for citizens of what is now no longer a member state. In essence, this has meant that Brits are now only able to stay in the country for 90 days out of every 180 day period, making residence feel impossible – but thanks to the golden visa, there is new hope for high-net-worth individuals who have designs on a Spanish lifestyle.

The golden ticket

Granting residency to foreign, non-EU citizens who invest a minimum of 500,000 Euros in cash in real estate, the Spain Golden Visa 2022 opens the door once again to that much-coveted idyllic lifestyle in the sun – and right when many of us thought it was closed for good. Granted by the Spanish government through the ‘Law of Entrepreneurs’ to promote investments from overseas, it provides a welcome solution for investors from the UK and other non-EU countries who are looking to buy properties in the nation – so if you thought your plans for 2022 had been scuppered, then think again.

View over Yedra Castle in Cazorla Town, Jaen Province, Andalusia, Spain.
Famed for its long, sandy beaches and balmy weather, Spain has long been the favourite travel destinations amongst British sunseekers

This golden ticket to a life on the continent offers not just the chance to invest in Spanish real estate – which can be lucrative in itself from a business perspective, particularly when it comes to holiday rentals – but to obtain permanent legal residency, too. And, with the rights extended to immediate family and also including work permits, it means you can move your nearest and dearest into your brand new luxury villa just as soon as you have the golden visa paperwork signed, sealed and delivered. Check out My Spain Visa for more information on how to get your application started.

It all sounds pretty great, right? But besides the great weather, what are the other reasons you should consider moving to – and investing in – Spain?

Beyond the sunshine appeal

The plentiful supply of balmy weather for Spanish residents has long been the nation’s primary appeal to sun-starved Brits, and with good reason. In a country known for its bountiful supply of beautiful beaches, it would be a shame not to have the chance to enjoy them to their full potential – so put the two together, and you have the perfect pairing.

Seville, Andalusia, Spain Famous landmark - Plaza de Espana in Seville, Andalusia, Spain. Renaissance Revival style. Spain Square
Interior cities like Seville and Madrid are attracting plenty of expats thanks to their rich cultural appeal

Water sports like paddle boarding, kayaking and sailing can be enjoyed throughout the year – and so can topping up your tan on the beach. Spain’s low-key towns and unspoilt stretches of coastline also mean that opportunities for a quieter and more laid-back life abound, so if the thought of living in a tourist trap fills you with fear or dread, then rest assured that there are plenty of great spots where you can enjoy a greater sense of seclusion and live the luxury lifestyle to the full without getting swept up into the summer throng.

Of course, not all investors in Spanish real estate – nor those seeking to move their lives to Spain opt for the nation’s coastal regions, with interior cities like Seville and Madrid also attracting plenty of expats thanks to their rich cultural appeal. From their quaint, cobbled streets and authentic Spanish architecture – not to mention the decadent national cuisine – the country has plenty of appeal beyond its beaches, too.

One of the great things about Spain is that as well as its sun-soaked coastal regions, it also offers a thriving winter scene for those who miss the seasons, with Sierra Nevada mountains in the north, and the Pyrenees in the south both popular winter sports destinations amongst skiers and snow-boarders. From the wilds of Galicia to the rolling hills of the Basque Country, Spain is a diverse place with a great deal to offer people of all tastes.

The lower cost of living on offer in Spain has also proved to be a huge draw for Brits, as although property, fuel, food and alcohol have all become notably more expensive over recent years, they remain lower than in the UK. Add to that an excellent healthcare system, and there are plenty of practical reasons to make the move.