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By Spectrum IFA
This article is published on: 30th September 2025
For over two decades, The Spectrum IFA Group has been a leading name in financial planning and wealth management for expatriates across Europe. With offices in key locations, Spectrum has built its reputation on providing clear and impartial client-focused advice.
The firm’s strength lies not only in its breadth of services – from pensions and tax planning to investments and wealth protection, but also in the people who deliver that advice.
Spectrum’s advisers are more than just professionals; they are trusted partners who build lasting relationships with clients by understanding their unique financial circumstances. In a world where financial landscapes can shift rapidly due to regulation, taxation, and market movements, Spectrum’s advisers deliver clarity, peace of mind, and long-term stability. The group’s success is rooted in a culture of collaboration, shared values, and a deep commitment to looking after their clients.
Within this framework, two individuals stand out in Malta for their dedication and complementary strengths: Craig Welsh and Jozef Spiteri. Together, they exemplify Spectrum’s blend of tradition and innovation.
Craig Welsh – Experience and Leadership
Craig has been at the heart of The Spectrum IFA Group since 2006, playing a pivotal role in shaping its culture and success. With nearly twenty years of experience in European financial services, his career began in Amsterdam, where he made an immediate impact in the Dutch market. His reputation was built on providing advice that was not only technically precise but also personally tailored – qualities that remain central to his approach today.
In 2017, Craig relocated to Malta to take on new responsibilities, combining client-facing financial planning with the management and oversight of Spectrum’s local operations. His leadership in Malta has ensured that clients continue to benefit from the highest standards of service, while also supporting the firm’s wider growth in the region.
Craig’s long-standing tenure with Spectrum is a testament to his commitment—not only to his clients but also to the company itself. His journey reflects the close-knit, supportive culture of Spectrum, where advisers thrive as part of a collaborative and values-driven team. For Craig, Spectrum is more than a workplace; it is a professional family built on trust, integrity, and a shared purpose.
Jozef Spiteri – Fresh Perspective and Drive
Joining the Malta team in 2021, Jozef brought with him a strong background in finance and a passion for helping people make well-informed financial choices.
From the outset, his energy and fresh perspective have been invaluable to Spectrum’s growth in Malta.
Jozef’s approach centres on accountability, professionalism, and a personal dedication to every client relationship. He has quickly built a positive profile in the local market, becoming a trusted adviser to those seeking guidance in areas such as investments, pensions and cross-border financial planning. His ability to combine technical expertise with a genuine interest in people’s lives makes him a natural fit for Spectrum’s ethos.
Together with Craig, Jozef forms part of a dynamic team that balances experience with innovation—offering clients the reassurance of established expertise alongside the agility of fresh ideas.
Craig and Jozef’s work in Malta highlights the very qualities that have made The Spectrum IFA Group so successful across Europe: professionalism, integrity, and above all a commitment to clients’ financial wellbeing. They embody both the enduring values and the forward-looking energy of the firm.
Spectrum’s advisers are supported by an extensive network of colleagues, knowledge-sharing, and resources that span multiple European countries. This collaborative environment allows them to deliver advice that is not only localised to Malta but also informed by wider European expertise.
In summary, The Spectrum IFA Group continues to thrive by combining experience, innovation, and a client-first philosophy. Through the work of dedicated professionals like Craig Welsh and Jozef Spiteri, Spectrum remains a trusted partner for expatriates and international clients across Europe, offering clarity and confidence in a complex financial world.
By Matthew Green
This article is published on: 29th September 2025
How to Budget for Your New Life
Valencia is one of Spain’s most attractive destinations for expats—and for good reason. With its stunning beaches, vibrant culture, and affordable lifestyle compared to other European cities, it’s no wonder so many people choose to call it home. But before you pack your bags, it’s important to understand what life in Valencia really costs and how to plan your budget.
Accommodation is likely to be your biggest monthly expense. Valencia offers a wide range of housing options, from modern apartments in the city center to charming villas on the outskirts.
Tip: Factor in community fees (for building maintenance), property taxes, and if renting, a deposit (usually one or two months’ rent).
Spain is famous for its food culture, and Valencia doesn’t disappoint. From traditional paella to modern tapas bars, eating out can be surprisingly affordable compared to Northern Europe or the US.
Entertainment such as cinema tickets, concerts, and cultural events are also reasonably priced – expect €8–€10 for a movie ticket.
If you have children, education will be a key factor in your budget.
Transport is another area where Valencia shines:
Many new arrivals forget to budget for these:
Valencia offers a fantastic quality of life at a relatively affordable price, but like any move, planning ahead is key. Create a realistic budget, understand where your biggest costs will be, and allow some flexibility for the unexpected.
As a financial planner with The Spectrum IFA Group here in Valencia, I help expats like you plan smart so you can enjoy life without financial stress.
If you’d like a free, no-obligation chat about setting up your finances for life in Spain, feel free to get in touch. It’s all about making sure you can enjoy everything Valencia has to offer—without financial stress.
By Matthew Green
This article is published on: 19th September 2025
If you are a parent in Valencia and are concerned about how to meet the rising cost of private education, you are not alone. Many families are looking for smarter, more tax-efficient ways to cover these expenses without depleting their hard-earned savings.
At The Spectrum IFA Group, we help clients create investment strategies that can provide reliable income streams for school fees — while protecting wealth for the future.
Mr and Mrs García live in Valencia and, like many families, are planning for the cost of private education for their children. With nursery fees averaging around €800 per month and secondary school fees closer to €960 per month, they wanted to ensure that they could cover these costs in a sustainable and tax-efficient way.
After speaking with their adviser at The Spectrum IFA Group, they looked at how best to structure their savings to provide the required income without eroding their long-term capital.
The Garcías had €250,000 available, which they invested into a tax-efficient bond. With an assumed long-term growth rate of around 5% per year, they were able to withdraw approximately €12,500 annually (about €1,040 per month).
This income stream was enough to cover the monthly school fees, while keeping the original capital invested and growing over the years.
In Spain, life assurance bonds are particularly attractive because of their favourable tax treatment. Only the gain portion of each withdrawal is taxable, making the early years especially efficient.
This structure meant the Garcías could cover school fees with minimal tax drag and without dipping into their capital base.
By using investment growth to fund school fees, the family maintained:
As with any financial plan, regular reviews with their Spectrum adviser ensure the investment stays on track, adapting to changes in fee levels, market conditions, or family circumstances.
Summary: By structuring their savings intelligently, families in Valencia can meet the challenge of private school fees while preserving wealth for the future.
If you would like to explore how your savings and investments can be structured to provide for school fees — or other future goals — in a tax-efficient way, speak to The Spectrum IFA Group. A personal consultation will give you peace of mind that your plan is sustainable and tailored to your family’s needs.
By Spectrum IFA
This article is published on: 18th September 2025
The latest stages of Le Tour de Finance brought together investors, financial experts, and international residents for two highly successful events that highlighted the importance of planning, transparency, and trusted advice. Both gatherings were very well attended, with participants eager to engage, ask questions, and share experiences in an open and interactive setting.
Across the two days in Granzay-Gript and Cognac, our expert panel delivered insightful presentations covering key topics such as pensions, investments, tax planning, estate structuring, and regulatory changes that affect expatriates in Europe. The sessions were designed to provide practical, up-to-date knowledge and were followed by lively Q&A discussions. Attendees made the most of the opportunity to ask specific questions relevant to their own circumstances, sparking valuable exchanges and deeper understanding.
We would like to extend our sincere thanks to all the partners; RBC Brewin Dolphin, Novia Global, The Prudential and Currencies Direct, whose ongoing support ensures the continued success of Le Tour de Finance. Their expertise and commitment to providing clear, professional guidance is at the heart of these events. We are also deeply grateful to the venues and hosts, who created such a welcoming and professional environment for our community.
Most importantly, we would like to thank all of the attendees who joined us. Your engagement and thoughtful questions helped make these events so dynamic and rewarding. The high level of interaction reflects the genuine need for clear, reliable information in the ever-changing world of financial planning.
As Le Tour de Finance continues, we look forward to building on this momentum and bringing more valuable insights to international residents across Europe. We are proud to provide a trusted platform where people can connect directly with experts and gain clarity for their financial future.
By Matthew Green
This article is published on: 15th September 2025
So you’ve made the move to Valencia—or you’re planning to. Now comes the fun part: exploring everything this beautiful city and region have to offer. Sure, you’ve heard of paella and the beach, but Valencia has so many hidden gems and local traditions that make life here truly special.
Here are some must-do experiences for newcomers that will help you fall in love with your new home.
Valencia knows how to celebrate, and no event is bigger than Las Fallas in March. For two weeks, the city turns into an open-air art gallery filled with giant sculptures, fireworks every day (mascletàs), and all-night street parties. It’s loud, colorful, and unforgettable.
If you’re feeling adventurous, take a day trip to La Tomatina in Buñol—a world-famous tomato-throwing festival held in August. Wear old clothes!
Just 20 minutes from the city, Albufera is a serene lake surrounded by rice fields—the birthplace of paella. Take a boat ride at sunset, watch the birds, and finish with a traditional paella in the village of El Palmar. This is Valencia at its most authentic.
Need a break from the city? Head inland to Montanejos, a stunning mountain village known for its thermal springs and turquoise river pools.
Perfect for hiking, swimming, and soaking up nature.
Everyone knows about Malvarrosa Beach, but if you want something quieter, try Playa de la Patacona or head to El Saler, south of the city, for natural sand dunes and crystal-clear water.
Skip the tourist traps on the beach and head to local favorites in El Palmar or the Ruzafa neighborhood.
Remember: paella is a lunch dish, not dinner. And yes, the real one has rabbit and chicken—not seafood.
Valencians love their coffee breaks. Find a sunny terrace, order a café con leche, and watch the world go by. Try horchata too—a sweet, milky drink made from tiger nuts, served ice cold with fartons (pastry).
The old riverbed of the Turia is now a 9 km green park running through the city.
Rent a bike, take a picnic, or just stroll past gardens, playgrounds, and the futuristic City of Arts and Sciences.
This grand market is one of the largest in Europe and a feast for the senses—fresh produce, seafood, and local delicacies. Go early in the morning for the best experience.(pastry).
Want to improve your Spanish and make friends? Valencia has dozens of language exchange meetups where locals and expats come together for conversation. Great for breaking out of the expat bubble.
From the orange groves of Xàtiva to the beaches of Cullera and the historic charm of Peñíscola, there’s so much to see just an hour away.
Valencia is full of amazing experiences—but while you’re discovering its culture, don’t forget about your financial future here in Spain. Things like tax planning, pensions, and investments work differently, and the right structure can make a big difference.
As a financial planner with The Spectrum IFA Group here in Valencia, I help expats like you plan smart so you can enjoy life without financial stress.
If you’d like a free, no-obligation chat about setting up your finances for life in Spain, feel free to get in touch. It’s all about making sure you can enjoy everything Valencia has to offer—without financial stress.
By Tom Worthington
This article is published on: 12th September 2025
Setting the stage: Brussels wants homework in October
While the UK plays calendar Enie Meenie minie mo with Spring/Autumn Budgets (and the occasional “surprise!” emergency one), the EU prefers punctuality. Every October, member states hand in their budgets like model students. In 2024, everyone also had to submit a four-year plan to steer national debt toward (or below) 60% of GDP—the EU’s collective happy place.
Spain, after a domestically bumpy 2024 (Reuters politely called the 2024 draft “discontinued,” which is the fiscal equivalent of “we meant to do that”), pivoted to 2025—and got Brussels’ nod in late November for a longer seven-year clean-up plan under the rebooted EU fiscal rules. Translation: fewer vibes, more spreadsheets.
What actually changed (a.k.a. the “please don’t shoot the messenger” bit)
Goodbye, tax holidays
Net result: monthly bills did the opposite of “Mediterranean chill.”
Nine new tax rises for 2025
Congress kicked off the 2025 tax year with nine approved increases, targeting roughly €4.5bn/year in extra revenue. Among the eyebrow-raisers:
1. “Bank Tax”: A progressive levy on net interest margin + commissions earned in Spain (roughly 1% to 7%).
2. Savings Income Tax: For incomes over €300,000, the top rate rises from 28% to 30%.
*Yes, this can touch insurance policy withdrawals and other taxable gains—mainly relevant for the well-heeled.
Business translation: banks are the piñata; high-net-worth savers bring an extra 2% candle to the tax cake.
Property:
The spicy bit everyone is arguing about…
Regional Property Transfer Tax still varies (hello, Valencia at 10% for buyers, residents and non-residents alike).
But the big headline: reports that Spain is considering a tax of up to 100% on properties bought by non-EU residents (yes, that includes the UK and US).
Important fine print: This is about plans and proposals being discussed, not a done deal. If you’re a non-EU buyer, keep your lawyer on speed-dial and your pulse steady.
Wealth & Solidarity: the sequel nobody asked for (but everyone pays attention to)
Spain has long had Wealth Tax for residents with net wealth ≥ €700,000, but regions can—and did—play with allowances. Madrid and Andalucía famously went full 100% relief.
Cue the central government’s 2022 plot twist: a “temporary” Solidarity Tax layered on top, using Wealth Tax rules as the base. Exemptions broadly still apply (primary home up to €300,000, business assets when it’s your main activity, and qualifying shareholdings >5%—or >20% family-owned). After exemptions, Solidarity hits at:
Also remember: non-residents can face Wealth Tax on Spanish-sited assets. Double Tax Treaties may soften the edges—but bring a professional to the knife fight.
The surprisingly cheerful chapter:
Inheritance tax (mostly) retires to the beach
Spain’s regions have been trimming Succession Tax like a minimalist Marie Kondoing their wardrobes:
Estate-planning translation: check your postcode—it matters more than your zodiac sign.
Who should care (and why)
Jargon-buster (with tapas)
Practical checklist (so you can look clever on Monday)
Conclusion
Spain’s 2025 plan blends EU-approved fiscal discipline with domestic social aims—and a dash of headline-grabbing housing policy.
For investors and families alike, the theme is simple: location matters, timing matters, and reading the footnotes definitely matters.
By Matthew Green
This article is published on: 11th September 2025
One of the first things you’ll need when moving to Spain is a local bank account. Whether you’re paying rent, utilities, or just want easy access to cash, having a Spanish account makes life much simpler. Here’s what you need to know.
1. Types of Bank Accounts in Spain
Tip: Once you have your padrón and residency, switch to a resident account for better conditions.
2. Documents You’ll Need
Some banks also ask for a non-resident certificate, which can be obtained from the police station or arranged by the bank.
3. Which Bank Should You Choose?
Spain has a mix of traditional banks (Santander, BBVA, CaixaBank) and digital options (Wise, N26).
Consider:
4. Common Pitfalls
Plan Ahead for a Smooth Transition
Opening a bank account is a key step – but so is understanding how to structure your income, savings, and investments in Spain. Banking here is different, and so are tax rules.
As a financial planner with The Spectrum IFA Group here in Valencia, I help expats like you make smart decisions for a stress-free life in Spain.
If you’d like a free, no-obligation chat about setting up your finances for life in Spain, feel free to get in touch. It’s all about making sure you can enjoy everything Valencia has to offer—without financial stress.
By Matthew Green
This article is published on: 8th September 2025
If you’re moving to Valencia, two words will come up quickly: padrón and NIE.
Both are essential for everyday life, but the process can feel overwhelming. Here’s a simple guide.
1. What is the Padrón?
The padrón municipal is the local census—registering your address with the town hall (ayuntamiento). It’s needed for:
2. How to Register for the Padrón in Valencia
You’ll need:
Book an appointment (cita previa) on the Valencia City Hall website or by phone. Registration is usually free.
3. What is the NIE?
The Número de Identificación de Extranjero is your foreigner ID number. You’ll need it for almost everything: buying property, opening a bank account, paying taxes.
4. How to Get an NIE
Appointments must be booked in advance—and they fill up fast.
Common Tips
Plan Ahead for a Smooth Transition
Getting your padrón and NIE sorted is an important first step—but financial planning should be next on your list. From tax planning to pensions and investments, having a strategy will make life in Spain easier and more secure.
As a financial planner with The Spectrum IFA Group here in Valencia, I help expats like you plan for a stress-free life in Spain.
If you’d like a free, no-obligation chat about setting up your finances for life in Spain, feel free to get in touch. It’s all about making sure you can enjoy everything Valencia has to offer—without financial stress.
By Gareth Horsfall
This article is published on: 8th September 2025
Hello again and welcome back to my Ezine after the summer break. I hope you are well and that the somewhat fresher Italian summer was a surprise for you as well. We were not sweltering in 38 degrees this year but enjoying a more pleasurable low 30s for most of the summer. It was a welcome change from last year, for example, when I saw the last rain in mid-May and not again until mid/end Sept.
It was also my first holiday away after our change of lifestyle to the country and with all this land, trees, and plants to manage. I have to say that although time at the beach was great and a welcome break from the country, I did find myself wanting to come back and see how all the plants were doing and also how the olives were developing after lots of summer rainstorms. It was pure curiosity because on my return I found that the whole situation is largely as it was last year at the same time. Grass needs cutting, and a few other jobs need doing, but in general everything is coming along nicely.
For those of you with whom I am friends on FB, you will have seen that I came back to a bumper crop of apples, pears, and figs. The figs are finding their way into my pancia quite quickly and are super delicious. (and I have my new wicker basket for collection – which my wife jokingly bought me at a ‘sagra’ event recently, very Laura Ashley)
Amelia is famous for its figs, so it’s no surprise that the trees are full of fruit again, exactly the same as last year. The apples and pears, I have now discovered, are different varieties and were pretty much falling off the tree, so I harvested the rest and they have now gone into cold storage until I can get round to doing something with them. (My mum reminded me that my grandfather used to sell fruit and veg and, to preserve fruit, he used to wrap each single piece in newspaper and then put them in cold storage somewhere. Apparently they kept for a few months.
Mine have gone into the underground cellar, which hosts the resident bats. It maintains a constant temperature of about 12 degrees all year round. They can stay there until I get round to dealing with them shortly).
The break also gave me some nice time to reflect on landscaping, round No. 2, this winter. I have made some decisions on some trees which are currently unmanageable. I think I will be lopping off the tops and starting to prune them again into smaller and much more workable trees. Also, I had some ideas about other landscaping possibilities, but one step at a time. Of course, there are the olives to deal with in a couple of months and they seem to be coming along just fine, although the mosca has attacked many this year due to the cooler and wetter summer temperatures. Also, after a serious potatura in the spring, the fruits are fewer than last year. I just hope that the oil content is higher. It’s all a big learning curve!
So now my country life update is out of the way, onto the financial context of this Ezine, but before that I also wanted to share with you some rather disturbing news which I think you should all know about, whether a client or not……..and to watch out for.
Earlier in the year we introduced some new security protocols regarding withdrawals from policies/portfolios which clients hold with us. We had been made aware that another financial planning company operating in the Middle East had received a fraudulent request to withdraw funds from a client portfolio. But in this case it turns out that it wasn’t the client making the request, but in fact some Artificial Intelligence application. The worrying aspect of this was that the adviser was contacted directly by the client on WhatsApp and email asking to withdraw a sum of money and have it paid to their nominated bank account. The adviser had an exchange of messages with the so-called “client,” not suspecting anything untoward. When the money had been paid, the actual client rang to ask the adviser why money had been deducted from his portfolio.
I think you can probably understand the ins and outs of this situation. It was a fraudulent approach using Artificial Intelligence.
AI certainly has its positive uses (I have translated some of the content in this Ezine from Italian to English which used to take me a long time, but was done in 3 seconds). However, this is certainly one very dangerous and worrying angle.
Therefore, since the start of the summer The Spectrum IFA Group have introduced a policy of meeting with the client in person or, if not possible due to geographical restrictions, then an video call with documentation required, where a withdrawal is requested. A phone call is not acceptable, nor purely communication via message or email.
We have introduced this to protect our clients and will keep track of the situation as and when we hear more. However, whether you are a client or not, please be alert to messaging and emails when dealing with your financial affairs. Try and engage either in person or via video call ONLY. Do not assume that messages or emails are from the actual person. If in doubt, pick up the phone and call!
I am not sure why, but like buses, the same query seems to crop up multiple times at the same moment, and so it happens that I received a number of queries this summer around the capital gains tax on the sale of property, as a resident in Italy and specifically the implications of selling property either in Italy or abroad.
So let’s look at the details…
The baseline rule is that if you are a resident in Italy and you sell a property after the first full five fiscal years from purchase (not your Prima Casa – different rules apply here, read on for details), you are NOT required to pay tax on any capital gain (CGT) resulting from the sale. This applies to properties you hold in Italy or abroad and applies whether it is your 2nd or 15th property!
This stems from the idea of a speculative intent to buy/sell property and where there is no intent then capital gains tax is not applied. (a nice tax planning opportunity!)
Speculation in Italy is defined as follows:
These rules also apply to property located abroad!
If the sale is subject to taxation (because you are selling within the first 5 years since purchase), then you can either opt for:
A substitute tax of 26% (standard capital gains tax rate) at the time of the deed (the notary is responsible for the payment), or
The standard income tax rates (IRPEF), with the possibility of using deductible and creditable expenses such as bonus edilizie, pharmacy expenses, doctors’ bills, etc. Bear in mind that the lowest rate of income tax in Italy is also 23%, so depending on your other income for the year you could fall in the lowest rate of income tax (€0–28,000 p.a.) and be able to reduce the taxable amount even further with deductions.
Below is a list of the main rules to consider:
Taxable conditions
As with all things taxation, it is important to understand the conditions:
In the case of donated/inherited property, the five-year period is calculated from the donor’s acquisition date.
(This is particularly important for anyone who might inherit a property from a deceased parent, for example. If you wish to dispose of the property it would be more advantageous to do so in the probate process, otherwise you may have to wait another 5 years before you could dispose of the property to avoid capital gains tax…. if any). However, if you take the property into your name and then can sell it quickly, you may avoid capital gains tax if the property value has not increased between the acquisition and sale.
Exemptions
Exempt from taxation are:
The 5 years run from the purchase deed (or from the later date of transfer of ownership rights).
Speculative operations: property flipping
If you fancy yourself as a property magnate and decide to try your hand at buying, renovating, and then selling repeatedly within the 5 years (“property flipping”), this constitutes a commercial activity and in this case:
Calculation of taxable capital gain
It’s a simple formula:
Sale price – (Purchase price / Construction cost + related documented costs)
Allowable related costs include:
It is important to keep all documentation relating to any property purchase/sale for at least 10 years in Italy.
For construction:
The gain is taxable in the year the payment is received.
Capital gains from property sales fall under “other income” (reddito diverso) and you have 2 options for taxation:
This is a nice potential financial planning option because you may choose to split the tax between spouses by sharing ownership, or put it in one person’s name rather than another to maximise your lowest income tax brackets. It has multiple possibilities and should be explored should the need arise.
Generally, taxpayers with other taxable income find the 26% substitute tax more advantageous.
Other cases
Statute of limitations for tax assessments
The Agenzia delle Entrate can assess omitted/under-reported gains:
– Within 5 years from the year after the tax return was filed;
So there we have it. All the facts regarding capital gains tax and property in Italy. For most people I know it rarely comes into consideration because the properties are owned for more than 5 years. However, on odd occasion CGT needs to be considered. For somewhere like the UK that introduced CGT on property purchases for non UK residents, the tax interest lies in the UK and not in Italy which is a relief because you don’t have to worry about paying it in 2 places. However, if you think it is applicable to you, then take the necessary advice before you sell.
By Peter Brooke
This article is published on: 6th September 2025
Karen Tait – Host and Presenter
Lisa Greene – French property expert (LEGGETT Immobilier Intl)
Jonathan Watson – Currency Specialist (LUMON)
Paulette Booth – Insurance expert (AXA International)
Tracy Leonetti – Relocation & French admin expert (LBS in France)
Sharon Revol – Mortgage expert (Cafpi)
Peter Brooke – Tax and Wealth Expert (The Spectrum IFA Group)
Speak to the experts about the property buying process in France, currencies transactions, insurance, the relocation paperwork…, mortgages in France, plus the all important financial and tax questions about moving to France.
Sign-up to the webinar – and if you have some specific questions, enter them on the form and our panel of experts will do their very best to answer your questions during the webinar on Wednesday 24th September
