Minimum earnings after Brexit

Hi Tim,

Yes, your understanding is correct.

The detail is explaned in Jim's Guide on this forum, "Moving to Spain and residencia for non-EU citizens" - here's the link:

https://www.costablancaforum.com/area/almoradí-spain-11/residency-in-almoradí-padron-residencia-passport-advice-23/jims-guide-moving-to-spain-and-residencia-for-non-eu-citizens-46065/

Then scroll down to the section titled:

"Financial means required for non-profit temporary residence (retirees):

"The IPREM (Indicador Público de Renta de Efectos Múltiples) is a figure published each year for the minimum wage - if your income is below that level, you may be entitled to social security assistance.

"The 2018 figure is €537.84 per month, or €6454.03 per year. On its own that doesn't look too bad, but the required 400% is €25816.12."

The 2018 figure of €25816.12 amounts to €2,151.34 per month.  I don't know what the 2020 IPREM figure is, but assuming there has been an increase in the last couple of years, I suspect around €2,400 per month is about right.

Kind regards,

Kim

As it stands that is correct.

We do NOT KNOW what deal (if any) will be struck between the individual governments between now & then ...... the one thing I would take solace from is that the Spanish government will have no interest in biting off the hand that feeds...... and UK nationals are pretty good feeders. Don’t panic, say little, listen lots and See where it goes.

Lots of nonsense being talked by some entities who would be better to engage their brain before they put their gob in gear.

Hi BeniSnowbird,

Jim's Guide has nothing to do with whatever deal may be struck between the UK and the EU, that's for the future.  It's based on facts, i.e. Spain's current requirements of Third Country Nationals, which is what UK citizens are now.  And I don't think taking solace in the "solstice" is going to help...... ;o)

Kind regards,

Kim

It's still up in the air. The worst case scenario is the sort of figure you've mentioned, but there is scope for an alternative requirement to be negotiated:

https://www.costablancaforum.com/area/mudamiento-spain-77813/eu-brexit-living-holidaying-moving-to-mudamiento-215/jims-guide-the-brexit-withdrawal-agreement-90322/

Leaving aside speculation about what might or might not happen come the day isn't that figure of 400%  just for the first person and a second requires the base IPRM? 

If correct you're looking at €32k+ on 2018 numbers!

Hi RayD,

It's not clear who you are responding to, but if it's Tim, the original poster, please would you clarify your response - Tim says he cannot move permanently to Spain for another 5 years (when his UK mortgage will be paid off), so he is not able to obtain residencia during the Brexit transition period.  Your post seems to suggest he won't be subject to Third Country National requirements in 5 years' time?  How so please?

Thanks and regards, 

Kim

Well I was hoping to work a bit as well as we are only early 40’s but I suppose we will have to see what happens in the negotiations. Bloody Brexit! 
thanks for all your help.

Have a read of Jim's Guides to Spain which can be found in a tab at the top of the page or at the bottom on the right hand side. 

There is a decent chance that Spain and the UK will come to an agreement, as BeniSnowbird says about biting the hand that feeds you.
As for working, there you could find problems. Spain has a very high unemployment rate and a lot of work is seasonal, often without contracts. It is very expensive to employ people on the books here and if you don't have a contract of employment you have to go Autonomo which entails paying Social Security contributions, starting at about €50 per month rising to €250 after a couple of years, regardless of your income.
You will also need health cover, paying up front for the full first year to get Residencia after which you can join the Convenio Especial for about €65 a month which would include pre-existing conditions but exclude all prescriptions and dental (all private).
The single best thing you can do to help yourselves is to spend the next 5 years becoming fluent in Spanish.

You do not have to have private health care if you are autonimo and your family are covered by your payments, the 50 euro rising to 305 after a couple of years