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12th September 2007

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UK Entrepreneurs Migrate to Spain

Research commissioned by Spanish developer Lar Sol shows that the number of British business people moving to Spain is growing.

UK Entrepreneurs Migrate to Spain

Research among nearly 400 Brits already owning or considering buying property in Spain, has revealed that we find the process of purchasing of a house on the Costas 'much easier' than in UK - particularly for investors. It was also found that over 50% of people who had invested in property in Spain intend to reinvest their profit there.

"Spain's economy is booming and growing at twice the rate of its European neighbours," explained Katy Katani, international sales coordinator at Lar Sol. "This surge has been fuelled by low interest rates and an unprecedented demand for property. The government is taking several steps to ensure this continues, by introducing cuts in income and corporate tax, by planning to reduce the number of tax bands on Spanish property and to eradicate income taxes on mortgages. When you consider these new measures alongside the obvious lifestyle reasons for moving to Spain - its climate, lower of cost of living, better quality of life - it is not surprising that so many people are choosing to leave the UK to live and work in Spain."

More and more British citzens are actively emigrating to Spain, either to set up their own businesses or to find work. In 2005, just over 30,000 British citizens signed working contracts in Spain and the country remains the most popular place for Britons to move to.

Research shows that Spain is the number one choice for more than 30% of Britons who intend to buy or move overseas this year. A large proportion of them are expected to set up their own business in Spain, fuelling further growth in the economy.

One of the fastest growing economies in Spain is that of the Murcia region which is home to the seven Polaris World Golf Resorts currently under development there. Murcia has the fourth highest economic growth in Spain after Madrid, Valencia and Barcelona. The Murcia coasts are now the number 1 destination choice amongst Brits for residential tourism.

"British people like to buy from British people and as more and more Britons move to Spain, they are creating a sustainable network of potential clients for British businesspeople," continues Katani. "The problem from a UK point of view is that while so many Britons are enjoying huge success in Spain, the UK is at risk of losing some of its best entrepreneurs as they seek a more satisfying life in the sun."

James Espin 20th April 2006.

About Polaris World & Polaris Golf Property UK

James & Debbie Espin are Directors of Overseas Property UK, the parent Company of Polaris Golf Property UK which specialises in the promotion of property for sale on the unique family of seven Polaris World Golf Resorts in Murcia, Spain featuring nine Nicklaus designed golf courses. Since being introduced to Polaris World at its outset more than four years ago, they have built up a widespread knowledge of the resorts, the Murcia region and the buying process in Spain as well as the extensive range of property, home and lifestyle services that the Polaris World companies offer to their clients.

For Editors

James & Debbie Espin are available to comment on Polaris World and the property market in Spain. Please contact them by telephone in the UK on 0845 4 66 55 44 or by email.