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Forgive me if I have missed this or do not know where the ongoing conversation is but is there anything in the pipeline as regards the financial requirements for us to successfully become residents post Dec. 31st when we become, "And anyone else," or other than Europeans?
Posted: Wed May 6, 2020 10:25pm
Very helpful member
Check out Jim's guides which can be found in the menu at the top left of the screen.
As Jim says in the guide - pour a stiff drink before reading the financial requirements for non EU citizens 😭
Or use this link
craig245t wrote on Wed May 6, 2020 10:25pm:
Check out Jim's guides which can be found in the menu at the top left of the screen.
As Jim says in the guide - pour a stiff drink before reading the financial requirements for non EU citizens 😭
Read more...
Or use this link
Thanks Craig. I have now read it and have some questions as a result. Very, very helpful though.
Posted: Thu May 7, 2020 4:08pm
Legendary helpful member
There's definitely no information emerging about the post transition period financial requirements, or about continuity of health cover.
I doubt the EU as an entity would relax the financial requirements, because they are broadly similar to those required by the UK.
One thing I note is that Spain do have financial requirements in place for non-EU pensioners wishing to move to Spain, but that's not reciprocated by the UK. Perhaps Boris recognises that nobody in their right mind would want to retire to the UK, or alternatively he might simply want to keep them out.
All we can hope for is that Spain, wanting to maintain the influx of pensioners spending money and paying taxes here, might relax the requirements for UK citizens, but that's just a hope at the moment.
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jimtaylor wrote on Thu May 7, 2020 4:08pm:
There's definitely no information emerging about the post transition period financial requirements, or about continuity of health cover.
I doubt the EU as an entity would relax the financial requirements, because they are broadly similar to those required by the UK.
Read more...
One thing I note is that Spain do have financial requirements in place for non-EU pensioners wishing to move to Spain, but that's not reciprocated by the UK. Perhaps Boris recognises that nobody in their right mind would want to retire to the UK, or alternatively he might simply want to keep them out.
All we can hope for is that Spain, wanting to maintain the influx of pensioners spending money and paying taxes here, might relax the requirements for UK citizens, but that's just a hope at the moment.
Quite so Jim. Thank you. My question having read the suggested text - I may as well ask it here as anywhere - is that is it a belief rather than a fact that the 4 x figure + the figure (without reverting to the text I can't recal the figures title) for in my case, my wife, is only required for the first years application period rather than for say five years? Then, assuming one has to prove that available funding for one year is that figure (something in the order of €36,000 or thereabouts as I recal) to finance accomm, the required health care cover premium and general living costs? If I understand it correctly, during this first year when one is granted residency hopefully what is/are the criteria thereafter? Our plan would be to commit to buying a place in Spain as our home during this first year when one is granted residency, retaining a place in the U.K. as an asset and small income on top of my tea
SPJ wrote on Thu May 7, 2020 4:31pm:
Quite so Jim. Thank you. My question having read the suggested text - I may as well ask it here as anywhere - is that is it a belief rather than a fact that the 4 x figure + the figure (without reverting to the text I can't recal the figures title) for in my case, my wife, is only required for th...
Read more...
...e first years application period rather than for say five years? Then, assuming one has to prove that available funding for one year is that figure (something in the order of €36,000 or thereabouts as I recal) to finance accomm, the required health care cover premium and general living costs? If I understand it correctly, during this first year when one is granted residency hopefully what is/are the criteria thereafter? Our plan would be to commit to buying a place in Spain as our home during this first year when one is granted residency, retaining a place in the U.K. as an asset and small income on top of my tea
teachers and basic state pension but would I still require to have access to the €36,000 or whatever yearly when I own my Spanish home, an asset and income producing property in the UK and my pensions. Come the time we would inevitably sell the UK asset to ensure always being able to finance good health insurance while spending the last year's in Spain.
Posted: Thu May 7, 2020 4:42pm
Legendary helpful member
SPJ wrote on Thu May 7, 2020 4:31pm:
Quite so Jim. Thank you. My question having read the suggested text - I may as well ask it here as anywhere - is that is it a belief rather than a fact that the 4 x figure + the figure (without reverting to the text I can't recal the figures title) for in my case, my wife, is only required for th...
Read more...
...e first years application period rather than for say five years? Then, assuming one has to prove that available funding for one year is that figure (something in the order of €36,000 or thereabouts as I recal) to finance accomm, the required health care cover premium and general living costs? If I understand it correctly, during this first year when one is granted residency hopefully what is/are the criteria thereafter? Our plan would be to commit to buying a place in Spain as our home during this first year when one is granted residency, retaining a place in the U.K. as an asset and small income on top of my tea
If there isn't relief from applying non-EU citizen rules, then look at:
That guide needs updating, but there's no point in my doing so until the post transition period residency requirements have been cast in stone.
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