NLV and house sale

PAul1670 wrote on Tue Apr 4, 2023 1:15pm:

Hi 

Would think if you enquire before sale of your property to make sure that you fit all the requirements.

 

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Also beware of capital gains tax on your house sale and any tax free pension you may or may not have.

In general it would be best if you sell your house very late in the year and then go to Spain early January at the earliest as Spain tax year for residents is January 1st to 31st December.

Remember it's just my opinion and I'm sure if I am wrong then I will be corrected but please do your homework before committing yourselves 

Herefordjack wrote on Tue Apr 4, 2023 2:30pm:

Only my opinion, but the Spanish authorities are highly unlikely to take into account capital which you hope to have in the future, dependent on a house sale. They will only take into account existing funds and income sources. They do everything by the book.

Rea007 wrote on Tue Apr 4, 2023 1:08pm:

We plan to put our house on the market late this year to enable my husband and I to apply for a NLV so we can start our process to retire to spain BUT the money that comes from the house sale will contribute towards our proof of earnings so we can prove to Spanish Embassy that we are self suffici...

 

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...ent money wise BUT will we get a NLV whilst we are waiting for our house to sell or do we have to have all our money in the bank as proof when we apply for NLV?

We are bit worried once the house sells we may get refused (for whatever reason who knows) a NLV then we will find ourselves in real worrying times

Thank you 

tebo53 wrote on Tue Apr 4, 2023 3:05pm:

Hi,

To apply for the NLV you need to prove that you have an annual income of around €34,000 made up from rock solid income sources, I.e. Pensions, stocks and shares etc. 

 

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Your lump sum might be taken into account and it may help to reduce your annual income requirements but not by a big degree. You will need to prove income on years 2 & 4 when reapplying for NLV extension to the 5 years which then will be made permanent. 

I have answered your query about Healthcare on another post.

Steve 

Rea007 wrote on Tue Apr 4, 2023 3:14pm:

you are so very helpful sorry for multiple questions, yes got your previous answers which we thank you for, is the 34,000 euros set in stone if we were to have 2,000 euros short of this figure? im not sure how flexible (if at all) the spanish system is?

Thank you

Rea007 wrote on Tue Apr 4, 2023 3:14pm:

you are so very helpful sorry for multiple questions, yes got your previous answers which we thank you for, is the 34,000 euros set in stone if we were to have 2,000 euros short of this figure? im not sure how flexible (if at all) the spanish system is?

Thank you

PeterPan wrote on Wed Apr 5, 2023 2:08pm:

Each application is dealt with on individual merit. The ratio of savings, investments and income isn't set in stone and is dependent on the assessor. However, I suspect that you will need to show the funds from your house sale, if you are counting on this for your application.

Good luck.