Expat Advice: Financial Issues in Nice, Spain

What is the name of the city or town that you are reporting on?

Nice

Which banks do you use? If you have a local account, which bank do you use? How do you like it? Do you also have an account in your home country? Which bank? Do they charge for ATM withdrawals? Do they charge a lot for international wire transfers? How has it been working with them from abroad? Do you use a special international wire transfer service? Do you use an online bank? If so, tell us about them.

I have always used a Swedish Building Society called Esanda as I get 5% interest and a bonus of 6% p.a. (www.esandabuildingsociety.com)

Balcells Group Lawyers
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With over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.

Click connect to have our partner contact you via e-mail and/or phone.

Balcells Group Lawyers

With over 40 years of professional experience, Balcells Group provides legal advice on immigration, business, real estate, and tax. They help individuals, companies, investors, students, entrepreneurs, highly-qualified professionals, digital nomads, and more, to enjoy successful law processes in Spain by guiding their clients every step of the way. They speak Spanish, English, Catalan and Russian.
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Click connect to have our partner contact you via e-mail and/or phone.

What advice would you offer others about banking as an expat in your country? What do you wish you had known about banking when you first arrived?

Would not know...have not used any

What sort of challenges or frustrations have you encountered as an investor living overseas? Please describe.

They all seem to be risky... that's why I keep my funds in the Building Society that has 100% insurance cover.

What advice was particularly helpful to you in managing your finances? What advice would you give? Any other thoughts?

Stay clear of any equity related investments and stay in property.

Do you do your own taxes, use a local firm, an expat-oriented firm or does your employer handle this for you (i.e. via an corporate tax firm)?

I use a local firm for my local taxes

What advice could you offer others about doing your taxes as an expat?

Stay clean...there is a tendancy to want to over benefit from being an expat. Take the benefits but be happy to work within the system.