Property ownership

At the moment many UK citizens have holiday homes in European countries, in particular Spain and France. When the UK leaves the EU, in theory UK citizens will be treated like non-EU citizens in relation to these properties, potentially having to apply for a visa in order to visit. If so, this will mean more intrusive questions about various matters including how long they are going to stay, their income and health insurance position. There could also be a risk of higher taxes being applied by EU countries to properties owned by non-EU citizens. These points could in turn make the destination less desirable and lead to a reduction in property values.

However, there can be a great difference between what is theory and what is reality. It may be the case that bilateral agreements will be put in place between the UK and either the EU or individual countries so as to help establish a working system for UK expatriates and holiday home owners. If such agreements are not put in place, the EU's strict immigration rules could make the ownership and use of such homes difficult or impossible.

In reality, the EU may wish to encourage visitors from the UK and therefore will be open to agreeing more favourable arrangements such as those negotiated with other European but non-EU nations such as Switzerland.

In turn, EU citizens who own property in the UK will face similar issues and potential barriers to ownership if no similar arrangement is put in place.



Taxation and succession


