Many expats living in Spain moved out to enjoy their retirement in the sun, relaxing and enjoying their hard earned pensions. I suspect that for many the concept of a offshore account never really occurred to them, perceiving it to be something for the rich or dodgy.

However a growing number of British expats in Spain are moving their pensions offshore after reform in 2006 allowed long-term expatriates to set up the Qualifying Registered Overseas Pension Scheme (QROPS).