Retirment
#1
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Joined: Feb 2019
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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
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
#2
Re: Retirment
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.
#3
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Joined: Feb 2019
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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
Our plan is to move out to the Murcia region so we just need to find out what the required income is there
#4
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Joined: Nov 2003
Location: Cartama, Malaga
Posts: 1,168
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.
It seems that retired people are easily granted residency here.
#5
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 5,624
Re: Retirment
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.
#7
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Re: Retirment to Murcia Region
Thats really good to hear thank you
Last edited by donjane96; Feb 24th 2019 at 10:48 am.
#9
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Joined: Nov 2003
Location: Cartama, Malaga
Posts: 1,168
Re: Retirment
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
#10
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Joined: Feb 2008
Posts: 5,624
Re: Retirment
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.
#11
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Joined: Feb 2019
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Re: Retirment
Thank you all who have replied so far its been very helpful 😊
#12
Forum Regular
Joined: Jul 2011
Posts: 86
Re: Retirment
Rules will change after Brexit as UK will no longer be part of the EU, the amount of income needed will treble.
#15
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Re: Retirment
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!