The government was working on measures to ensure Spain-based Britons would keep their rights even if Britain crashed out of the EU without a deal on March 29. Measures were however conditional on Spaniards getting the same treatment in Britain, he added. Speaking at the Prime Ministers’s traditional end-of-year news conference, he told reporters: “Their rights will be preserved whatever the scenario.”
Spain is the most popular European retirement destination for Britons and official figures suggest it is home to about 300,000 British citizens, most of whom are settled on the coast.
The BC puts the figure significantly higher, at 760,000.
Among foreign nationals, they are by far the biggest users of Spain’s state-funded, universal health care system.
Mr Sanchez said he would by February present a law outlining the rights of citizens in the respective countries that would also lay out measures to protect bilateral commercial relations.
His words may go some way to reassure UK citizens concerned about the future once Britain leaves the bloc on March 29, 2019.
Speaking last month, James Green, independent financial consultancy deVere Group’s divisional manager of Western Europe, claimed Brexit uncertainty could be to blame for more British expats pondering the move back to the UK.
He said: He said: “Since the referendum, enquiries from British expats in Spain thinking about leaving to move back to the UK has soared by around 30 percent.
“We’ve helped many of these people who became clients successfully restructure their financial strategies to mitigate the potential Brexit burden.”
He continued: “As Brexit fears, uncertainty and doubt begin to bite deeper, a growing number of British expats in Spain are reluctantly considering moving back to the UK.
“The ‘pull factors’ that attracted them to Spain in the first place – such as the more relaxed, family-orientated, more outdoors lifestyle, the weather, great schools, and work opportunities – remain in tact.
“As do the ‘push factors – such as UK’s cost of living, high taxes, low interest rates, the scrapping of some age-related benefits, quality of life, crime concerns and the weather – that encouraged them to relocate.
“This is why it’s so sad. Brexit concerns are potentially forcing them to give up their dreams of living in Spain.”
Nevertheless, he advised British expats to think twice before moving back to Britain and consider all financial options available to them.
He explained: “I would suggest that people consider all the options available to them in the first instance, such as the bona fide solutions which offer tax efficiency, peace of mind, and low administration issues.
“In recent months, many expats who were seriously contemplating a move back to the UK have been able to successfully restructure their financial planning to, in fact, capitalise on their expat status to take advantage of the tax privileges and investor protection legislation which exists.”
Meanwhile airline Iberia risks losing its right to operate in the European Union after the European Commission said any company falling below the 51 percent threshold for EU ownership will not be able to operate flights in Europe in the event of no deal.
Iberia is owned by International Airline Group (IAG), which is also the parent company of British Airways.