Spanish Consulate Update - application and income requirements, post Brexit - confirmation, Non-Lucrative Visa. - Page 2

Hi, 

Is this applicable to Irish passport holders as well or only UK passport holders.

Thanks

I think it depends where you live. If you are Irish passport and live in ireland(either North or South) you are still classified as EU citizen (this guarantee for those in Northern Ireland was built in to the Northern Ireland Protocol agreement).

If you hold Irish passport and live anywhere else not sure where you stand.

Hope this helps

Deirdre

Hi having read through these links I am unclear, are the financial requirements onging, ie you have to have the required income each and every year, or are these purely 'entry' requirements, as in if you have to show you have this amount in your account, as 'back up' if you like, but can then live off your uk state pension   (assuming this would cover your costs?)  Hope this is clear.  Thanks in advance

Julie  

Hi,

As an  Irish passport holder you are an Irish national regardless of where you live so therefore where you live should make no difference. For example a Spanish national living in the UK is still a Spanish national and is treated as such.

As with everything Brexit clarity is in short supply. I think the only way to be sure is via a relevant solicitor or embassy.

I'm not claiming any special expertise here. Like everyone else, I only saw these links a couple of days ago.

I have quoted from the Visa application document below (the Visa for retired Brits applying for Residency).

"Financial means required to cover the living expenses and, where appropriate, those of their family members, for one year, in accordance with the following amounts: - For the support of the main applicant, monthly, 400 % of the IPREM (Indicador Público de Renta de Efectos Múltiples), which in 2020 amounts to 537,84 €, being 2.151,36 € or its legal equivalent in foreign currency. - For the support of each of the family members in charge, monthly, 100% of the IPREM, which in 2020 amounts to 537,84 € or its legal equivalent in foreign currency. 

The availability of sufficient financial means will be evidenced by the submission of original and stamped documents that verify the perception of a periodic and sufficient income or the holding of an estate that guarantees the perception of that income. If the financial means come from shares or participations in Spanish companies, mixed or foreign companies, based in Spain, applicants shall prove, by certification thereof, that they don’t carry out any work activity in such companies and will submit an affidavit to that effect".

I think the translation introduces some ambiguity, but 2 things ...

(1) the reference to a periodic and sufficient income suggests that this is an ongoing income requirement, evidenced by (e.g.) pension statements

(2) the alternative to a large pension is a large investment portfolio that yields the equivalent income. 

So it seems that the income requirement is "annual income".

It also seems that having (say) £50k in the bank won't do it. You would need more like £500k.

There may be an option to "mix-and-match" .... to demonstrate a mix of pension statements and assets.

I sincerely hope that I am wrong. Maybe there is someone on this forum with the necessary proficiency in Spanish to understand the nuances in the Spanish language version of the text.

We won't know until someone applies for the new Visa.

We know that the "old" process demanded certain income values, but that some people were able to use a healthy bank balance to obtain Residency, so perhaps there will be some flexibility in future.

This new process mirrors that applied previously to applicants from 3rd countries. Does anyone on here know someone from a 3rd country who gained Residency in Spain, and how did it work ?

There was some chat on this on "another forum". 

The case of a woman from South Africa was referenced and at the time she had to have Eur 30k in banked deposits to be granted residency for 1 year. At the end of that year there was a periodic review and to be granted a 2 year extension she needed to show Eur 60k on deposit. So it might not need to be in the letter of the law where you have an estate which can generate significant income as the above links suggest.

Clearly many would not actually spend Eur 30k a year and some could roll over to the next review date but it does seem that those on limited means might be priced out in future.

We haven't got long to wait as the first applicants start to run through the process and feedback.

HNY all! 

If these entry requirements are rigorously implemented we Brits shall refrain from taking up residency in Spain and other EU countries. We shall look further afield at countries with much easier entry requirements such as Thailand, Philippines,, Vietnam, Cape Verde, the Caribbean Islands and other Eastern European countries. 

There are several Brits who own a number of investment properties in Spain who’ll sell up and take their monies out of the country. 

Saw this coming Brexit is a complete disaster and would haunt us for years to come especially the younger generation. Rather shameful!!

There is always a risk that people will look further afield but many want to be close to relatives or in politically stable environments and so the options for many looking to retire somewhere warm will maybe dwindle.

In fairness the writing has been on the wall for a while now and many including us decided to retire a bit earlier and take advantage of the withdrawal agreement and the protections it offered.

Unless things are better than they look and people returning home to the UK are replaced over time, by those moving out the other way, we may well see less and less of a permanent UK presence in many of the popular spots.

Interesting times.