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Residence

Posted: Mon Oct 7, 2019 4:35pm
5 replies103 views4 members subscribed

Hi All, when applying for residency is it the norm to be expected to have 7k euros each in the bank?

Recently moved from Murcia region and never heard of it before.

    Regards.....john 

John56

John56

Legendary helpful member

Mon Oct 7, 2019 4:38pm

Posts: 1984

Location: La Zenia

2325 helpful posts

Posted: Mon Oct 7, 2019 4:38pm

Taurian177 wrote on Mon Oct 7, 2019 4:35pm:

Hi All, when applying for residency is it the norm to be expected to have 7k euros each in the bank?

Recently moved from Murcia region and never heard of it before.

    Regards.....john 

The only requirement that I was aware of was to prove you would not be a drain on Spain's economy, this should be satisfied by showing over 700 Euros per person going into a Bank Account each month, anything else is a bonus.

RayD

RayD

Legendary helpful member

Mon Oct 7, 2019 8:11pm

Posts: 3340

Location: Catral

2311 helpful posts

Posted: Mon Oct 7, 2019 8:11pm

John is correct as things stand but, post brexit, we will be classed as extranjeros and have to get a TIE. The income for that is around 2.500 a month.

So, it could all change at the end of October.

Cheryl

Cheryl

Very helpful member

Mon Oct 7, 2019 8:57pm

Posts: 966

Location: Albatera

844 helpful posts

Posted: Mon Oct 7, 2019 8:57pm

Hello John, when you say you have recently moved from Murcia, had you applied for Residencia there? It is pretty standard any country is going to check that immigrants are going to be able to support themselves and being in Spain you will find that every area, on different days, will have different criteria!!!!
It will depend on your individual circumstances, if you have bought your property outright, you will need less income than if you were paying rent every month. If you qualify for SIP, you won't need to be paying for private medical insurance......
Jim Taylor has compiled an excellent guide;

Jim's guides - your complete guide to SpainThis is your bible. If you search for "announcements" under "Everywhere" there are various other items of interest.

Taurian177

Taurian177

Original Poster

Mon Oct 7, 2019 9:17pm

Posted: Mon Oct 7, 2019 9:17pm

Hi Cheryl,  thanks for taking the time.

We bought our house 8 weeks ago (no mortgage)and are applying for residency through the same law office.

We have private medical insurance as we are not state pension age.

I will post again as we proceed. 

   Regards.....john 

jimtaylor

jimtaylor

Legendary helpful member

Tue Oct 8, 2019 4:55am

Posts: 4075

Location: Almoradí

5511 helpful posts

Posted: Tue Oct 8, 2019 4:55am

The official requirements, pre-Brexit, are here:

Jim's guide - The Residency certificate

Different police stations apply the financial requirements in different ways, with some being more stringent or unreasonable than others.

Make sure you have a letter from your insurance provider stating that it complies with residency requirements.

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