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Residency & 3 months deposit in Spanish bank

Posted: Thu Aug 6, 2020 10:16pm
38 replies3099 views15 members subscribed
Martin 1976

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Location: Calp / Calpe

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Heard in a number of discussions that €8000  has to be deposited into a Spanish bank for 3 months before residency is considered...

Is this correct?

tebo53

Posted: Fri Aug 7, 2020 12:25am

tebo53

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Posted: Fri Aug 7, 2020 12:25am

Martin 1976 wrote on Thu Aug 6, 2020 10:16pm:

Heard in a number of discussions that €8000  has to be deposited into a Spanish bank for 3 months before residency is considered...

Is this correct?

Some regions like to see that you can support yourself financially and like to see that you have money.

When I was applying for residency I had to show an income paid into a Spanish bank account for a total of 3 months.  Some will accept a lump sum of €9000 in a Spanish bank account that has been there 3 months.

After 1st January 2021 those amounts will virtually quadruple!!

Steve 

Movingon

Posted: Fri Aug 7, 2020 3:51am

Movingon

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Posted: Fri Aug 7, 2020 3:51am

"Some will accept a lump sum of €9000 in a Spanish bank account that has been there 3 months" 

That might have been true in the past but with all Brit applications being handled by the dedicated office in Alicante there is no 'some' anymore. 

"it is assuming no deal to the contrary changes that requirement"  

Unless you or anyone can demonstrate otherwise then AFAIK changes or concessions to future requirements for residence are not even on the table in the negotiations for a deal.

jimtaylor

Posted: Fri Aug 7, 2020 5:20am

jimtaylor

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Posted: Fri Aug 7, 2020 5:20am

Movingon wrote on Fri Aug 7, 2020 3:51am:

"Some will accept a lump sum of €9000 in a Spanish bank account that has been there 3 months" 

That might have been true in the past but with all Brit applications being handled by the dedicated office in Alicante there is no 'some' anymore. 

"it is assuming no deal to the contrary changes that requirement"  

Unless you or anyone can demonstrate otherwise then AFAIK changes or concessions to future requirements for residence are not even on the table in the negotiations for a deal.

There is actually a ray of hope for those who will not be working here and who apply after the end of this year. I've underlined the critical wording.

From BOE-A-2020-7276:

https://www.boe.es/diario_boe/txt.php?id=BOE-A-2020-7276

In the case of people whose right of residence in Spain begins after the end of the transitional period in accordance with the provisions of Title II of the Agreement, the deadline for submitting the application will be three months from their arrival in Spain or from when the birth occurs, without prejudice to the fact that a sufficient additional period may be granted for well-founded reasons.

The procedure for obtaining this residence document is established according to whether the United Kingdom national: Is the holder of a temporary or permanent registration certificate; or, it lacks it for not having requested it before the date provided in these instructions or for having arrived in Spain in the period comprised from the date provided in these instructions (that is, after July 6) and the end of the period transitory or at a later time.

Application form -EX 20 Application for residence document article 18.4 for nationals of the United Kingdom (Withdrawal Agreement of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community).

Documentation provided for in article 3 of Order PRE / 1490/2012, of July 9, which dictates rules for the application of article 7 of Royal Decree 240/2007, of February 16, on entry, free movement and residence in Spain of citizens of the Member States of the European Union and of other States party to the Agreement on the European Economic Area.

Article 3 of Orden PRE/1490/2012:

Sufficient accreditation for compliance with this requirement will be considered to have resources that are higher than the amount established each year by the General State Budget Law to generate the right to receive a non-contributory benefit, taking into account the personal and family situation of the interested.

Article 7 of Real Decreto 240/2007:

As regards sufficient financial means, a fixed amount may not be established, but the personal situation of the nationals of a Member State of the European Union or of another State party to the Agreement on the European Economic Area.  In any case, said amount will not exceed the level of resources below which social assistance is granted to Spaniards or the amount of the minimum Social Security pension.

My comments:

It seems that Spain are making a special case for UK citizens, and will continue to apply EU citizen rules. I'm surprised by this, as Boris doesn't seem to be making any such concession, and is demanding ~£25K p.a. for EU citizens wanting to move to the UK.

I've written this whilst drinking my first coffee of the day, so my brain isn't yet firing on all four cylinders, and I may well be wrong. I'd therefore welcome comments from anyone else who is willing to look at the BOE, and to try to fault my logic.


Martin 1976

Posted: Fri Aug 7, 2020 7:05am

Martin 1976

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Joined: 15 Jan 2020

Posted: Fri Aug 7, 2020 7:05am

tebo53 wrote on Fri Aug 7, 2020 12:25am:

Some regions like to see that you can support yourself financially and like to see that you have money.

When I was applying for residency I had to show an income paid into a Spanish bank account for a total of 3 months.  Some will accept a lump sum of €9000 in a Spanish bank account that has been there 3 months....

...

After 1st January 2021 those amounts will virtually quadruple!!

Steve 

Does that mean if my wife & l deposit €18000 into a Spanish bank on 1st September, we won't be considered for residency until 3 months has lapsed (1st Dec)?

Many thanks Steve 

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jimtaylor

Posted: Fri Aug 7, 2020 7:21am

jimtaylor

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Posted: Fri Aug 7, 2020 7:21am

Martin 1976 wrote on Fri Aug 7, 2020 7:05am:

Does that mean if my wife & l deposit €18000 into a Spanish bank on 1st September, we won't be considered for residency until 3 months has lapsed (1st Dec)?

Many thanks Steve 

Unfortunately it's not possible to say at the moment, simply because we've not had enough feedback from people who have done applications in the last few weeks. When I went to Alicante a few weeks ago, I did look to see if any requirements were posted on the wall, as has happened at Elche before, but I didn't see anything.

Martin 1976

Posted: Fri Aug 7, 2020 7:34am

Martin 1976

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Location: Calp / Calpe

Joined: 15 Jan 2020

Posted: Fri Aug 7, 2020 7:34am

jimtaylor wrote on Fri Aug 7, 2020 7:21am:

Unfortunately it's not possible to say at the moment, simply because we've not had enough feedback from people who have done applications in the last few weeks. When I went to Alicante a few weeks ago, I did look to see if any requirements were posted on the wall, as has happened at Elche before,...

... but I didn't see anything.

We're over regardless Jim ....

We've heard so many contradictory reports about the specific criteria needed for residency that I'm starting to go cross-eyed ! 🤣

Many thanks 

Cheryl

Posted: Fri Aug 7, 2020 12:00pm

Cheryl

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Posted: Fri Aug 7, 2020 12:00pm

jimtaylor wrote on Fri Aug 7, 2020 5:20am:

There is actually a ray of hope for those who will not be working here and who apply after the end of this year. I've underlined the critical wording.

From BOE-A-2020-7276:

https://www.boe.es/diario_boe/txt.php?id=BOE-A-2020-7276

In the case of people whose right of residence in Spain begins after the end of the transitional period in accordance with the provisions of Title II of the Agreement, the deadline for submitting the application will be three months from their arrival in Spain or from when the birth occurs, without prejudice to the fact that a sufficient additional period may be granted for well-founded reasons.

The procedure for obtaining this residence document is established according to whether the United Kingdom national: Is the holder of a temporary or permanent registration certificate; or, it lacks it for not having requested it before the date provided in these instructions or for having arrived in Spain in the period comprised from the date provided in these instructions (that is, after July 6) and the end of the period transitory or at a later time.

Application form -EX 20 Application for residence document article 18.4 for nationals of the United Kingdom (Withdrawal Agreement of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community).

Documentation provided for in article 3 of Order PRE / 1490/2012, of July 9, which dictates rules for the application of article 7 of Royal Decree 240/2007, of February 16, on entry, free movement and residence in Spain of citizens of the Member States of the European Union and of other States party to the Agreement on the European Economic Area.

Article 3 of Orden PRE/1490/2012:

Sufficient accreditation for compliance with this requirement will be considered to have resources that are higher than the amount established each year by the General State Budget Law to generate the right to receive a non-contributory benefit, taking into account the personal and family situation of the interested.

Article 7 of Real Decreto 240/2007:

As regards sufficient financial means, a fixed amount may not be established, but the personal situation of the nationals of a Member State of the European Union or of another State party to the Agreement on the European Economic Area.  In any case, said amount will not exceed the level of resources below which social assistance is granted to Spaniards or the amount of the minimum Social Security pension.

My comments:

It seems that Spain are making a special case for UK citizens, and will continue to apply EU citizen rules. I'm surprised by this, as Boris doesn't seem to be making any such concession, and is demanding ~£25K p.a. for EU citizens wanting to move to the UK.

I've written this whilst drinking my first coffee of the day, so my brain isn't yet firing on all four cylinders, and I may well be wrong. I'd therefore welcome comments from anyone else who is willing to look at the BOE, and to try to fault my logic.


Morning Jim, I have always thought that Spain will continue to treat Brits much as they do now and the aftermath of Covid will probably ensure Spain continues to use this approach.
The type of Brit immigrant to Spain is generally very different to the type of Spaniard going to live in the UK.
Percentage wise, most Brits retire to Spain with a certain amount of wealth gained through their working life. It is a win, win for Spain. Most Spanish people move to the UK at a much younger age looking for work and without that wealth behind them. The cost of housing in the UK where work is (was)readily  available is very high compared to many areas of Spain.
If another nationality, or group of them were going to fill the void they would have done so before now.
Again, just my thoughts....

jimtaylor

Posted: Fri Aug 7, 2020 1:39pm

jimtaylor

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Posted: Fri Aug 7, 2020 1:39pm

I agree where Spain is concerned, Cheryl, but if my logic is correct then I'm surprised that the EU are letting them get away with it. Ever since the Brexit negotiations started, the EU have insisted on reciprocal treatment. The most recent statement I recall from them was that if Boris changed his mind and imposed a visa requirement on EU visitors, then the EU would then impose the same on UK visitors. Of course I like the apparent continuity of EU citizen rules for Brits wanting to move here, but I'll only believe it if or when it's cast in stone.

Kimmy11

Posted: Fri Aug 7, 2020 11:39pm

Kimmy11

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Posted: Fri Aug 7, 2020 11:39pm

Martin 1976 wrote on Fri Aug 7, 2020 7:34am:

We're over regardless Jim ....

We've heard so many contradictory reports about the specific criteria needed for residency that I'm starting to go cross-eyed ! 🤣

Many thanks 

Hi Martin,

Friends of mine have been told by their gestor that they need to have €9k each in their bank account for 3 months.  I queried this, suggesting that, as a married couple, they make a Family application where, according to Jim's guide, the lump sum requirement is €12k, not €18k.  The gestor agreed.

To test this out, I called a different gestor, who also told me the requirement was €9k each.  When I mentioned the lower financial requirements of a Family application, the second gestor told me that Alicante is only progressing individual applications, which explains the requirement for €9k each.

However, as Jim has said, we need feedback from members who have made first-time residencia applications, but it may explain why you're receiving conflicting information.  

Kind regards, 

Kim

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