Spain's exiled king to keep royal title: report

Spain's exiled King will keep his royal title for life, according to reports, despite abdicating.

Spanish Prime Minister, Pedro Sanchez, announced the decision after being asked whether ministers planned to revoke the status of the 83-year-old, according to Royal Central.

RELATED: Former Spanish king confirmed to be in UAE amid financial probes

King Carlos abdicated in 2014, and is also known as King Emeritus.

Earlier this year he disappeared, and was later confirmed to be in the UAE, amid claims of a financial scandal.

He is the target of official investigations in Spain and Switzerland into possible financial wrongdoing.

However the Prime Minister said Juan Carlos will keep the title of king for the rest of his life, the report said, adding other European nations allow their former rulers to keep royal honours.

Juan Carlos facilitated Spain's transition to democratic rule in the 1970s, when the heir of the Bourbon dynasty replaced former General Franco as the country's head of state.

He reigned for nearly four decades while Spain modernised and joined the European Union.

RELATED: Spain's king takes veiled dig at his exiled father in record-breaking Christmas speech

A few weeks ago, his son, Spanish King Felipe's Christmas address drew record viewers in Spain, due to speculation he would make mention of his father's scandal.

King Felipe said Spanish citizens demand "principles that apply to everyone, without exception, and that are above any other considerations, including personal or family (bonds)."

As former head of state, King Carlos is immune from prosecution for any offence committed during his 39-year reign.