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retirment income
Posted: Mon Nov 18, 2019 3:22pm
Ive Been told that after Brexit, if you want to buy a house and retire to Spain, You will be required to have a minimum monthly income of at least 2130 Euros !!!
Is this correct /
If no alternative arrangement is reached then the U.K. would be treated as a Non E.U. country and the law for people from those countries requires the higher income of 2140€ a month, this is not Spain hammering the U.K. for Brexit but has been in place for years.
Albeit tweaked for US citizens the core requirements for non EU residency are laid out in the document below and is where the figure of €2130 comes from (€25, 560 pa / 12) although as you'll see that is not the full picture.
Haven't done the actual sums and it varies from region to region anyway but on that sort of income you should budget to be paying up to €5k tax.
Posted: Fri Nov 22, 2019 4:07pm
Does this figure of 2130 euros still count if you own your own property. Ie if you rent then you have to prove the 2130 to take into account your rental payments? But if you own your property, it is Iess as you don't have rent to pay out? 2130 sounds a lot of money just to live on if you don't have rent to pay.
Thanks
Loulou wrote on Fri Nov 22, 2019 4:07pm:
Does this figure of 2130 euros still count if you own your own property. Ie if you rent then you have to prove the 2130 to take into account your rental payments? But if you own your property, it is Iess as you don't have rent to pay out? 2130 sounds a lot of money just to live on if yo...
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...u don't have rent to pay.
Thanks
Your status of owner or renter is not considered.
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