Residency & 3 months deposit in Spanish bank - Page 3

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Posted: Mon Aug 10, 2020 12:41pm

Kimmy11

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Posts: 6870

12564 helpful points

Location: Formentera Del Segura

Joined: 8 Aug 2017

Posted: Mon Aug 10, 2020 12:41pm

OldSalt wrote on Mon Aug 10, 2020 10:30am:
Hi Folks
I am in the middle of the process of starting a first-time application. We are using a company in Alicante.

Read more...

The question of financial proof has been a large doubt in our minds. The choice appeared to be either have your UK state pensions transferred to be payable through a Spanish bank for three months (not happing) or have 9000 euros each in the bank for three months. I understand that this figure is an increase from a somewhat lower amount this year. However, and it is a big however, when I attempted to get this figure confirmed I got the long run around. The latest I have heard from the professionals is that since from the changes earlier this year the actual figure is unknown/uncertain. Worse each area can interpret the rules as they wish! even more, worrying is that within the responsible office individual officials seem to differ on the requirements. The folks that I am using are saying that any figure over about 7000 euros that has been in the bank for some time will be OK. We will see.

Hi Oldsalt,

I don't know whether you've seen this thread:

Online TIE applications

but I hope to hear confirmation later this afternoon of whether there has been an official change in the financial requirements. I'll update the thread once I know.

Kind regards,

Kim

Reply

Posted: Mon Aug 10, 2020 3:33pm

jimtaylor

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Location: Mudamiento

Joined: 2 Feb 2017

Posted: Mon Aug 10, 2020 3:33pm

OldSalt wrote on Mon Aug 10, 2020 10:30am:
Hi Folks
I am in the middle of the process of starting a first-time application. We are using a company in Alicante.

Read more...

The question of financial proof has been a large doubt in our minds. The choice appeared to be either have your UK state pensions transferred to be payable through a Spanish bank for three months (not happing) or have 9000 euros each in the bank for three months. I understand that this figure is an increase from a somewhat lower amount this year. However, and it is a big however, when I attempted to get this figure confirmed I got the long run around. The latest I have heard from the professionals is that since from the changes earlier this year the actual figure is unknown/uncertain. Worse each area can interpret the rules as they wish! even more, worrying is that within the responsible office individual officials seem to differ on the requirements. The folks that I am using are saying that any figure over about 7000 euros that has been in the bank for some time will be OK. We will see.

As I'm sure I say in my residency guide, every application has to be treated individually, so there are no published figures.

The only police station to have ever posted details of acceptable minimums was Elche, who are no longer doing residency applications.

Posted: Tue Aug 11, 2020 12:38pm

arabest

Posts: 33

18 helpful points

Location: Villamartin

Joined: 23 Aug 2018

Posted: Tue Aug 11, 2020 12:38pm

The requirement is on an individual basis .i e property in uk , pensions ,stamped uk bank account funds for past 3 months.

Info from murcia sol

But a message for jim. Where is the office for residency? ,can you recommend a gestor . Initially was going to apply in murcia. But now going to rent in san miguel

Thanks

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Posted: Wed Aug 12, 2020 8:46pm

Marco2020

Posts: 34

22 helpful points

Location: Torrevieja

Joined: 5 Jan 2020

Posted: Wed Aug 12, 2020 8:46pm

My wife and I obtained residency and Padrone in Torrevieja at the end of our first 90 days. There were no questions about banks or deposits. We only transfer what we need every month for rent and electricity. We do a wire transfer each month for €1200. All other money comes from ATM withdrawals from accounts in USA.

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Posted: Wed Aug 12, 2020 8:48pm

Lynda39

Posts: 71

19 helpful points

Location: Villamartin

Joined: 22 Apr 2019

Posted: Wed Aug 12, 2020 8:48pm

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....

Read more...

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

How do you know that what you need in bank will do quadruple from January 2021?

Reply

Posted: Wed Aug 12, 2020 8:59pm

Lynda39

Posts: 71

19 helpful points

Location: Villamartin

Joined: 22 Apr 2019

Posted: Wed Aug 12, 2020 8:59pm

OldSalt wrote on Mon Aug 10, 2020 10:30am:
Hi Folks
I am in the middle of the process of starting a first-time application. We are using a company in Alicante.

Read more...

The question of financial proof has been a large doubt in our minds. The choice appeared to be either have your UK state pensions transferred to be payable through a Spanish bank for three months (not happing) or have 9000 euros each in the bank for three months. I understand that this figure is an increase from a somewhat lower amount this year. However, and it is a big however, when I attempted to get this figure confirmed I got the long run around. The latest I have heard from the professionals is that since from the changes earlier this year the actual figure is unknown/uncertain. Worse each area can interpret the rules as they wish! even more, worrying is that within the responsible office individual officials seem to differ on the requirements. The folks that I am using are saying that any figure over about 7000 euros that has been in the bank for some time will be OK. We will see.

We're back out next week and will apply for TIE. We have been told by company we are using that it's 7,000€ each (we come under Alicante area) and my husband's state pension paid into our Bank account - it has been paid in since March this year. We were coming back in March but Covid put paid to that, otherwise we probably would have got residency before the change to TIE. Grr!

Reply

Posted: Wed Aug 12, 2020 8:59pm

Kimmy11

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Posts: 6870

12564 helpful points

Location: Formentera Del Segura

Joined: 8 Aug 2017

Posted: Wed Aug 12, 2020 8:59pm

Lynda39 wrote on Wed Aug 12, 2020 8:48pm:
How do you know that what you need in bank will do quadruple from January 2021?

Hi Lynda,

Because the higher financials are those required of Third Country nationals, which UK citizens become from 1st January 2021 - unless the UK and the EU come to a more favourable agreement.

Kind regards,

Kim

Posted: Wed Aug 12, 2020 9:01pm

arabest

Posts: 33

18 helpful points

Location: Villamartin

Joined: 23 Aug 2018

Posted: Wed Aug 12, 2020 9:01pm

Lynda39 wrote on Wed Aug 12, 2020 8:48pm:
How do you know that what you need in bank will do quadruple from January 2021?

It will be 26k, 32k cple google it instead of questioning others

Reply

Posted: Wed Aug 12, 2020 9:36pm

OldSalt

Helpful member

Posts: 41

51 helpful points

Location: Guardamar del Segura

Joined: 8 Jul 2020

Posted: Wed Aug 12, 2020 9:36pm

arabest wrote on Wed Aug 12, 2020 9:01pm:
It will be 26k, 32k cple google it instead of questioning others

Have I missed something here? I was under the impression that this was the place to exchange KNOWLEGE. Very disappointed to see a smug smart-arsed response such as this was. The very least you could have included the google link so that the person could have found the information that you obviously, for whatever reason, wish to hold dear to your chest.

Posted: Wed Aug 12, 2020 11:17pm

Cjohnso1

Posts: 32

14 helpful points

Location: Moraira

Joined: 29 Jul 2020

Posted: Wed Aug 12, 2020 11:17pm

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?

My understanding is that you now require E 9000 per person, to be in a Spanish bank account for 3 months , plus showing account activity of incoming “earnings” plus outgoing spending. This is if you are a person that is not employed or self employed. If you are a pensioner you have to show you have a STATE PENSION, not a private pension, of over E 750 per month per person. ( UK PENSIONS DONT GO THAT FAR) . So you have to go the E 9000 per person route. Plus S1 forms from U.K. Gov , plus (12) months Private Health Insurance at the top level , with the proviso it meets Spanish Residencia requirements, Also original and copies of NIEs plus passports of course, and maybe copies of marriage certificate, with copies not more than 3 months old, APOSTILLED and translated, plus some other stuff I’m sure I have forgotten. Get an English Solicitor !!