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-   -   Retirment (https://britishexpats.com/forum/spain-75/retirment-922389/)

donjane96 Feb 24th 2019 7:42 am

Retirment
 
Hi Everyone
Just joined the forum
Does anyone know if there is a legal required income to retire out in Spain please.We are planning to move in the next year

Loafing Along Feb 24th 2019 8:42 am

Re: Retirment
 

Originally Posted by donjane96 (Post 12642729)
Hi Everyone
Just joined the forum
Does anyone know if there is a legal required income to retire out in Spain please.We are planning to move in the next year

Retirement - The standard phrase is "Have enough income not to be a burden to the state". This is interpreted in various ways by each regional authority. In theory it relates to the minimum salary now payable and is approximately Euro 850,- a month. Normally you will have to demonstrate you have more than that, have somewhere to live and also you will need private healthcare for your first year unless you are at retirement age and can get an S1 certificate from the UK which will enable you to access the Spanish health services.

donjane96 Feb 24th 2019 9:01 am

Re: Retirment
 
Thank you thats put my mind at rest.Iv been reading numerous statements about ridiculous amounts of income you need to have before being considered
Our plan is to move out to the Murcia region so we just need to find out what the required income is there

bfg69bug Feb 24th 2019 9:05 am

Re: Retirment
 
(malaga) When my dad got his residencia certificate last year, the national police wanted to see, among other things, his pension "letter" from the dwp and his bank book showing payments going in (we went there 3 months after he started getting his pension) and passport. nothing else was required. They didnt care how much he had in the bank (it was .. enough to live on for a few years.., they didnt care) they just wanted to see that he had money coming in. Me telling them that he owned the house outright and made no payments on it was enough for them.

It seems that retired people are easily granted residency here.

bobd22 Feb 24th 2019 9:13 am

Re: Retirment
 

Originally Posted by bfg69bug (Post 12642749)
It seems that retired people are easily granted residency here.

That totally depends on the region applying to and indeed the official you deal with. Does your father own his own property ? If so then in many areas of Malaga that negates the need to show an amount held in a Spanish bank. Has as already been said there is not a set amount it varies by region. Also op needs to keep an eye on Brexit if no deal then the situation and amount required will change for an idea check what say someone from USA requires to obtain residency as no doubt UK will end up same with no deal. With a deal in the transition period it should stay the same.

mikelincs Feb 24th 2019 9:14 am

Re: Retirment
 

Originally Posted by donjane96 (Post 12642748)
Thank you thats put my mind at rest.Iv been reading numerous statements about ridiculous amounts of income you need to have before being considered
Our plan is to move out to the Murcia region so we just need to find out what the required income is there

Please note that requirements might change after Brexit

donjane96 Feb 24th 2019 10:11 am

Re: Retirment to Murcia Region
 
Thats really good to hear thank you

bfg69bug Feb 24th 2019 10:18 am

Re: Retirment
 

Originally Posted by bfg69bug (Post 12642749)
(malaga)...Me telling them that he owned the house outright and made no payments on it was enough for them.....


Originally Posted by bobd22 (Post 12642753)
... Does your father own his own property ?...


;)

bfg69bug Feb 24th 2019 10:39 am

Re: Retirment
 

Originally Posted by donjane96 (Post 12642748)
Thank you thats put my mind at rest.Iv been reading numerous statements about ridiculous amounts of income you need to have before being considered
Our plan is to move out to the Murcia region so we just need to find out what the required income is there


Like i said, he had more money than he´ll ever need in the bank, but they didnt care - their reasoning was that he could of borrowed it and planned to give it back the day after he got his certificate. You might want to change the title of the thread to "retirement in Murcia Region - what are the residencia requierments" and you´ll get more region specific answers.

Unfortunatly the rules and regulations differ slightly in each autonomous region of spain, so as theres people from all over the country posting on here, you´ll get alot of different answers.

anyways, good luck :)

bobd22 Feb 24th 2019 10:48 am

Re: Retirment
 

Originally Posted by bfg69bug (Post 12642749)
Me telling them that he owned the house outright and made no payments on it was enough for them.

Sorry I missed that , that is why in Malaga region they did not require him to show an amount in the bank. Had he had a mortgage on the property or been renting that would have been different. Also if property is owned outright then you usually are required to provide a Nota Simple proving there are no debts showing on the property. The amount currently required to be held in the bank in Malaga region is from memory around Euro 4000 per person if renting or mortgaged property.

donjane96 Feb 24th 2019 10:50 am

Re: Retirment
 
Thank you all who have replied so far its been very helpful 😊

newpower Feb 25th 2019 7:24 am

Re: Retirment
 
Rules will change after Brexit as UK will no longer be part of the EU, the amount of income needed will treble.

Fred James Feb 25th 2019 8:53 am

Re: Retirment
 

Originally Posted by newpower (Post 12643339)
Rules will change after Brexit as UK will no longer be part of the EU, the amount of income needed will treble.

Where did that information come from?

If you cannot substantiate it from a reliable source I will delete the post.

newpower Feb 25th 2019 4:15 pm

Re: Retirment
 

Originally Posted by Fred James (Post 12643370)
Where did that information come from?

If you cannot substantiate it from a reliable source I will delete the post.

take a look at requirements for non EU countries.

bobd22 Feb 25th 2019 4:44 pm

Re: Retirment
 

Originally Posted by newpower (Post 12643613)
take a look at requirements for non EU countries.

The point you are getting at may be the case but may not. If a deal is done then there will be a transition period whereby UK remains with EU status during that transition period further negotiations will be conducted to define UK citizens status etc after the transition period. What you refer to may well be the worst case scenario but is not certain. Who knows Mrs May may eventually decide to go the customs union route or EFTA route unless you have a crystal ball I can't see how anyone can speak with any certainty on the brexit,/ post brexit fiasco scenario!


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