Saturday, June 25, 2016

No major changes for wealthy or skilled UK expats in Germany and other EU countries after Brexit

Disclaimer: Unless everybody panics and plunges the EU into a very, very deep recession.

As usual, money will protect against much of any negative fallout. Sought after skills will, too.

British citizens with enough cash will be welcome as Golden Visa residents in several EU countries.

A few years from now, you can expect even plenty of Brexit supporters going this route, either quietly retiring once they have faded out of the view of the public, or euphemistically claiming health benefits of Spanish weather or some yet to be determined high minded cause.

While population forecasts for Germany pointed to a rapidly shrinking population for a few decades, there have been recent forecasts that point to an increase in numbers from around 82 million today to 93 million in 50 years from now.

Any increase will be immigration driven. The net migration of German citizens has been negative for 10 years, i.e. the number of German passport holders leaving the country has exceeded the number of returning citizens every single year since 2005.

There is no shortage of jobs for skilled UK citizens in Germany. You will continue to benefit from the legacy of the gruesome Empire that was Britannica: the dominance of the English language.

Even if that means more American sounding neighbors.

Sure, the automatic "freedom of movement" prevision of EU member states will go away, but requirements for an EU "work green card" equivalent have already been lowered, and you won't need a visa to travel to the EU.

Of course, poorer, less skilled UK citizens may face more difficulties, but if your personal economic situation in the UK is not good, what do you have to lose?

Why live badly under German monarchs when you can live slightly better under regular Germans?

If all else fails, remember the Roman Empire. The Isles quit that one, too.

And there is always Shakespeare: "Much Ado about Nothing".

[Update 3/22/2017] According to TheGuardian, a survey by UBS wealth management reveals that the rich are optimistic Brexit will increase their wealth.

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