Moving abroad

[Lucie390]

I’m looking for some advice about moving to Ibiza/Spain from London.

My husband lost his job during covid and it got us thinking how we can turn this into something positive. I have supported my husband in his career for past 15 years and I feel like I’d like to have some say in future plans and following our dreams of moving abroad. He fully agrees this would be a better quality of life for our children but thinks it’s not do-able as we wouldn’t have jobs over there.

I’ll be really honest here as only way to get accurate advice. We have calculated that if we sell our home and a rental we have we would have close to £800,000 to buy a property and to start a small business in spain or Ibiza. We are hoping if we can find a reasonable property and buy outright, a new business will bring us on enough cash to live and to put some away for savings etc. My husband is more keen on Spain as the property is cheaper where as I feel Ibiza is better for our two teens. I love the idea of a smaller island community and the lifestyle. My parents are back in London so the our eldest would commute back and forth for university. We would also have to pay for 2 children to go to an international school which I understand is quite expensive.

Am I being mad is this possible at all on our money pot of £800k? Also I run a fairly successful events company that I’m hoping to transfer over to Ibiza. This currently brings in £25,000 -£30,000 per annum here but no idea how well it would do over there/competition etc. I decorate for weddings/parties etc..

Would love to get some feedback.

Many thanks

We did it! Wouldn’t ever go back. We’re really happy with the state schools, dc we’re fluent very quickly and the class sizes are smaller than in our local intl school. You also have “concertada” which is half private/half state - you might find English schools like that - so not necessary London private school prices.

It’s not the best country to be self employed in, and it will be getting much more expensive over the next few years, just to warn you! But the lifestyle, politics, attitude to children, WEATHER are all fab!

Are either you or your partner Spanish?

Do either of you speak Spanish?

After Brexit and now coronavirus, which is shitting all over the entertainment industry, I don't think you've picked a very good time to move...?

Being freelance is a giant pain in the balls, too.

You'll need the right sort of visa to set up a business.

How old are your children? They may end up having to pay the much higher international fees if you're not resident in the UK.

You need to apply for a business (and resident) visa before you move which I imagine involves a lot of bureaucracy including proving evidence you can support yourself and your family and create jobs for local workers. You will need to reapply every year for one once you are there but after 5 years you can apply for resident status.

It's very easy to be lured by the seductiveness of parts of Europe so check out everything you can in advance including the tax situation because it can be very different for non-citizens. Maybe try and speak to the Embassy or Consulate here.

Brexit makes this difficult. Could you consider a move to another part of the UK? As a former expat, I would advise you spend two hours thinking of the challenges for every one you spend thinking of the benefits.

My husband has just applied for a job in Gibraltar and I was just wondering if anyone has recently moved with a family. We have a 5 year old and an eighteen month old. Im all up for the move - think of it as an adventure but can anyone give any advice on if this is a good idea with young ones.

Thanks