Residency In Fuerteventura
 

Hi,
I am considering retiring to Fuerteventura but one thing [so far :rofl:] that confuses me is residency status.
Obviously I do want to give up my UK Citizenship but will be spending a considerable time every year on the island.
Do I need to apply for Residential Status or can I stay an unlimited period?
If I do need RS, how do I apply?
Will RS affect my tax status back in UK?

Any help at all on this and other subjects to be launched soon will be most gratefully appreciated.

Cheese Gromit

Max

Re: Residency In Fuerteventura
 

A lot will depend on how long, each year, you spend in Spain, over 183 days and you will be classed as tax resident, and be taxed on your worldwide income there, any tax you do pay in the UK can be offset against tax owed in Spain, at least that is the current situation, what happens after the UK leaves the EU is still an unknown qualtity.You apply for residencia at the local police station

Re: Residency In Fuerteventura
 

Hi Mike,

Thanks very much ;-)

Max

Re: Residency In Fuerteventura
 

This might help https://www.gov.uk/guidance/residenc...ments-in-spain

Re: Residency In Fuerteventura
 

Yep, that sort the ticket ;-)

Thanks ;-)

Re: Residency In Fuerteventura
 

Brexit should make no significant difference. The personal tax laws across the EU are down to the individual countries

The dual tax treaty is between Spain and the UK, not between the EU and the UK..

Re: Residency In Fuerteventura
 

Dont know if its been covered in simple terms, can anyone help on the following?

Using 2017/18 tax rates, is the tax rate for a state pension retired couple living full time in Spain more or less than it is in the UK. Take total combined income as £15,000/yr

Re: Residency In Fuerteventura
 

Tax paid is generally more in Spain than the UK, but on a small income, such as £15k, it will depend on the allowances which will be affected by the income split. Also the ages are important as that affects the allowances.

Allowances in Spain are lower than in the UK.

Without that information you can't work it out.

Re: Residency In Fuerteventura
 

Thanks Fred

It was on the basis the two seniors both aged 70, their main source of income from state pension, little if any bank savings.

Is there a link somewhere that I could see or do the calculation?

Re: Residency In Fuerteventura
 

Assuming your state pension is split on the usual 100/60 basis, if you declare separately, there should be no tax to pay as the allowances are greater than your income.

On the same basis, you would pay no tax in the UK.