jay
May 28th 2007, 11:34 am
#16
MODERATOR
Joined: Mar 2007
Location: Costa Valencia
Posts: 14,800
Re: jay
It seems to me that its an enormously difficult decision. We came here as early retirees, but I'm not quite sure if I would have had the courage to bring a family here and have to find work.
From what I've read over the last few years there are a great number people who come here in the same situation as you, run out of money, and have to return.
BUT, you have a house in the UK and that is income which is a start. You have well over 12 months worth of savings to support you. I'm not sure the funds would purchase you a going concern business, but who knows. The cost of living over here is less than in the UK and you will find a number of couples here who live on around 1000 ish euros a month. But then again you have to pay rent over here.
If you got a job over here earning 800 euros a month each making 19200 a year then your tax would be minimal / zero as you have three kids but then I don't know your personal circumastances fully.
General allowance 5,050 euro pa
Wage earners allowance 4000 euro
Child allowance
First child 1,800 euro
Second child 2,000 euro
Third child 3,600 euro
No one can advise you what to do ..... you just have to do your research. and don't jump into anything with your eyes closed!
Good luck
From what I've read over the last few years there are a great number people who come here in the same situation as you, run out of money, and have to return.
BUT, you have a house in the UK and that is income which is a start. You have well over 12 months worth of savings to support you. I'm not sure the funds would purchase you a going concern business, but who knows. The cost of living over here is less than in the UK and you will find a number of couples here who live on around 1000 ish euros a month. But then again you have to pay rent over here.
If you got a job over here earning 800 euros a month each making 19200 a year then your tax would be minimal / zero as you have three kids but then I don't know your personal circumastances fully.
General allowance 5,050 euro pa
Wage earners allowance 4000 euro
Child allowance
First child 1,800 euro
Second child 2,000 euro
Third child 3,600 euro
No one can advise you what to do ..... you just have to do your research. and don't jump into anything with your eyes closed!
Good luck
Rosemary
May 28th 2007, 11:38 am
#17
RETIRED ;-))
Joined: Jul 2003
Location: Benalmadena Pueblo,Spain
Posts: 20,156
May 28th 2007, 11:45 am
#18
Straw Man.
Joined: Aug 2006
Location: That, there, that's not my post count... nothing to see here, move along.
Posts: 46,302
May 28th 2007, 11:47 am
#19
Senior Moment
Joined: Jan 2006
Location: On the edge
Posts: 20,460
Re: jay
2006 wealth tax rates started at 0.2% rising to 2.5%. If your total assets were to total 500,000 euros then your wealth tax would have been about 1400 euros after allowances. If the principla place of residence was owned in Spain it would be zero.
May 28th 2007, 2:17 pm
#21
Forum Regular
Joined: Mar 2007
Posts: 71
Re: jay
In order to set up any business you need to budget for twice the purchase price. this should allow you to organise the business, Stock purchases, legal expenses etc for approx 6 months. I know of businesses for sale in spain for as little as 15,000 euros. double that and your 30,000 is spoken for. Then you have living expenses.You would need to hit the ground running in order to support your family. 2 adults on their own............ Maybe??? But with 3 children in tow..................?????. Have you thought about going in with someone? maybe already out here, or like minded friends or family.
May 28th 2007, 3:50 pm
#22
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Joined: Mar 2007
Location: Valdovino, Galicia
Posts: 489
Re: jay
Hi,
Every persons move to Spain is a risk to some extent. Either financially or personally/socially.
Do you outright own your house in the UK? Is the rental income all yours or is some of it paying off a mortage?
30 000 Euros is a realistic total. Many people make the move on less. If you do end up doing it, give yourself 6-9 months notice and try to learn as much Spanish as you can. You aren't gonna be fluent before you go out there but you can "get by" and increase the speed of learning when you are there. I use linkword language CD. It's quite good.
Now the doom and gloom side to it. The grass is always greener, comes to mind. Don't move because you went on holiday and thought "I can get used to this!". You really have to outline your reasons for wanting to make the move. You may find the same or similar things in Spain you don't like, or even a whole bunch of new things.
I'm sure you have already thought of that though, good luck!
Every persons move to Spain is a risk to some extent. Either financially or personally/socially.
Do you outright own your house in the UK? Is the rental income all yours or is some of it paying off a mortage?
30 000 Euros is a realistic total. Many people make the move on less. If you do end up doing it, give yourself 6-9 months notice and try to learn as much Spanish as you can. You aren't gonna be fluent before you go out there but you can "get by" and increase the speed of learning when you are there. I use linkword language CD. It's quite good.
Now the doom and gloom side to it. The grass is always greener, comes to mind. Don't move because you went on holiday and thought "I can get used to this!". You really have to outline your reasons for wanting to make the move. You may find the same or similar things in Spain you don't like, or even a whole bunch of new things.
I'm sure you have already thought of that though, good luck!
May 28th 2007, 4:06 pm
#23
Banned
Joined: Feb 2007
Location: Hoping to get away from UK to Spain
Posts: 1,826
Re: jay
no not moving to earn lots of money. just wanted nicer life than we have here. but on the other hand dont want to move to spain and be on the bread line. i am in the process of buying a sandwich shop here in england but didnt know if to keep the money 30,000 euros and bring it to spain and see how we get on there
As i was mooching along the numerous fronts and towns in Mallorca ,i always have been keeping my mind open for options as to what is missing !! And what would possibly fit in ?
Now as you mentioned the Sandwich bar thing ,that is one thing i did spot wasnt here yet .. In my hometown in the Uk a new SUBWAY sandwich bar has cropped up and is nearly always busy
So that type of thing i am sure would do some reasonable business here , after all somedays a hot Burger or Pizza wouldnt maybe hit the spot ? where as a fresh light sandwich followed by a 1/2 pint of Spanish imitation real Ale may ?So why not consider giving that a try in Spain , or if Mallorca takes your fancy i for one would invest with you as a sidline thing to keep me out of mishchief .. reckon set the whole thing up easy and cheaply
If it fails well we add a few kiss me quick hats and a ice cream machine still make a few quid
May 28th 2007, 4:39 pm
#24
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Joined: Jul 2006
Location: up the mountain near Guadalest
Posts: 1,389
Re: jay
"Now as you mentioned the Sandwich bar thing ,that is one thing i did spot wasnt here yet"
We also spotted that but was told that it was something the Spanish just didn't do so would have to be in a busy tourist spot by the beach but the rents on the prom are horrendous
We also spotted that but was told that it was something the Spanish just didn't do so would have to be in a busy tourist spot by the beach but the rents on the prom are horrendous
May 28th 2007, 5:53 pm
#25
Senior Moment
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Location: On the edge
Posts: 20,460
Re: jay
There are "Subways" and shops that sell bocadillos everywhere
May 28th 2007, 5:57 pm
#26
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Location: Benalmadena Pueblo,Spain
Posts: 20,156
May 28th 2007, 7:00 pm
#27
Banned
Joined: Feb 2007
Location: Hoping to get away from UK to Spain
Posts: 1,826
Re: jay
Well thats put the kibosh on that one then 
Never saw any in Mallorca though
So shows Spanish use them and therefore could be worth setting up jay ? 
Never saw any in Mallorca though
So shows Spanish use them and therefore could be worth setting up jay ?
May 28th 2007, 7:06 pm
#28
Banned
Joined: Feb 2007
Location: Hoping to get away from UK to Spain
Posts: 1,826
Re: jay
Hi,
Every persons move to Spain is a risk to some extent. Either financially or personally/socially.
Do you outright own your house in the UK? Is the rental income all yours or is some of it paying off a mortage?
30 000 Euros is a realistic total. Many people make the move on less. If you do end up doing it, give yourself 6-9 months notice and try to learn as much Spanish as you can. You aren't gonna be fluent before you go out there but you can "get by" and increase the speed of learning when you are there. I use linkword language CD. It's quite good.
Now the doom and gloom side to it. The grass is always greener, comes to mind. Don't move because you went on holiday and thought "I can get used to this!". You really have to outline your reasons for wanting to make the move. You may find the same or similar things in Spain you don't like, or even a whole bunch of new things.
I'm sure you have already thought of that though, good luck!
Every persons move to Spain is a risk to some extent. Either financially or personally/socially.
Do you outright own your house in the UK? Is the rental income all yours or is some of it paying off a mortage?
30 000 Euros is a realistic total. Many people make the move on less. If you do end up doing it, give yourself 6-9 months notice and try to learn as much Spanish as you can. You aren't gonna be fluent before you go out there but you can "get by" and increase the speed of learning when you are there. I use linkword language CD. It's quite good.
Now the doom and gloom side to it. The grass is always greener, comes to mind. Don't move because you went on holiday and thought "I can get used to this!". You really have to outline your reasons for wanting to make the move. You may find the same or similar things in Spain you don't like, or even a whole bunch of new things.
I'm sure you have already thought of that though, good luck!
Hmmmmmm
I went on holiday to Mallorca and thought "I can get used to this"
Oh and i have often looked over the neighbours garden and seen his grass and it most definately is Greener than mine , mine is sort of light greenish with a few patches of brownish as its short ..
His is really really Green as its not cut as often ,,,
May 28th 2007, 7:30 pm
#29
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Joined: Mar 2007
Location: Valdovino, Galicia
Posts: 489
Re: jay
Hmmmmmm
I went on holiday to Mallorca and thought "I can get used to this"
Oh and i have often looked over the neighbours garden and seen his grass and it most definately is Greener than mine , mine is sort of light greenish with a few patches of brownish as its short ..
His is really really Green as its not cut as often ,,,
I went on holiday to Mallorca and thought "I can get used to this"
Oh and i have often looked over the neighbours garden and seen his grass and it most definately is Greener than mine , mine is sort of light greenish with a few patches of brownish as its short ..
His is really really Green as its not cut as often ,,,
hehe, you know what I mean. It's so easy to think you can move to a holiday paradise, do little work, make money and then enjoy the Spanish life.
Reality is different. By the way, I enjoyed your recent thread.
May 28th 2007, 8:10 pm
#30
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Location: up the mountain near Guadalest
Posts: 1,389
Re: jay
"Originally Posted by Mitzyboy
There are "Subways" and shops that sell bocadillos everywhere
Most of the garages do fresh made ones also and fresh bread."
OK Subway - one in Benidorm to my knowledge - but most of the shops sell other things as well not just sandwiches which was what the poster mentioned (a sandwich shop).
There are "Subways" and shops that sell bocadillos everywhere
Most of the garages do fresh made ones also and fresh bread."
OK Subway - one in Benidorm to my knowledge - but most of the shops sell other things as well not just sandwiches which was what the poster mentioned (a sandwich shop).