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Resedencia and health insurance

Posted: Mon Jan 13, 2020 10:38pm
12 replies844 views6 members subscribed
Mark6012

Posts: 18

9 helpful points

Location: Las Filipinas

Joined: 31 Jul 2019

I shall be getting recedencia this year as I plan to spend at least 6 months in Spain and continue to work in the UK to fund my stays until I retire in 7 years. My solicitor tells me I need €7500 in my Spanish bank and a comprehensive health policy. I need advice on some issues. I’m sure it’s a minefield but what is the cost of health policies? How do I stand as far as paying tax is concerned I believe I will need to pay tax on my UK earnings in Spain? Does this mean I won’t pay tax in the UK. 

Thanks in advance any help will be appreciated. 

jimtaylor

Posted: Tue Jan 14, 2020 4:30am

jimtaylor

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Posts: 5612

8738 helpful points

Location: Mudamiento

Joined: 2 Feb 2017

Posted: Tue Jan 14, 2020 4:30am

Ref insurance, scroll down the page and click on Gran Alacant Insurances. Alfonso has an excellent reputation.

Ref tax, if you stay here 183 days or more in a calendar year, then you pay tax here on all your income. You can offset tax due by the amount paid in the UK. After submitting your first return here, you can opt out of the UK tax system. 

Financial requirements for residency are set by law, but many national police stations apply their own criteria.

Have a look at:

Jim's guides - your complete guide to Spain


Movingon

Posted: Tue Jan 14, 2020 9:18am

Movingon

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Location: Albatera

Joined: 7 Feb 2018

Posted: Tue Jan 14, 2020 9:18am

"Financial requirements for residency are set by law, but many national police stations apply their own criteria"  

True but with Brit applications now being handled centrally in Alicante surely that's an 'inconsistency' which should no longer be a feature. Maybe someone who has recently acquired residencia via that route can comment?

History now of course but when we obtained our residencias  in Orihuela our financials were barely glanced at. 

Mark6012

Posted: Tue Jan 14, 2020 10:41am

Mark6012

Original Poster

Posts: 18

9 helpful points

Location: Las Filipinas

Joined: 31 Jul 2019

Posted: Tue Jan 14, 2020 10:41am

Thanks for the repliesI’m assuming brexit will have an effect on financials I’m also assuming that you have some sort of annual checks to show you still meet the criteria??
jimtaylor

Posted: Tue Jan 14, 2020 11:05am

jimtaylor

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Location: Mudamiento

Joined: 2 Feb 2017

Posted: Tue Jan 14, 2020 11:05am

Movingon wrote on Tue Jan 14, 2020 9:18am:

"Financial requirements for residency are set by law, but many national police stations apply their own criteria"  

True but with Brit applications now being handled centrally in Alicante surely that's an 'inconsistency' which should no longer be a feature. Maybe someone who has recently acquired residencia via that route can comment?...

...

History now of course but when we obtained our residencias  in Orihuela our financials were barely glanced at. 

True, but this forum also covers the Valencian province, where individual police stations are still taking applications - and applying their own criteria, favourably by accounts of people I know who have done it.

I do agree that feedback is needed from someone who has done the deed at Alicante.


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jimtaylor

Posted: Tue Jan 14, 2020 11:07am

jimtaylor

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Location: Mudamiento

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Posted: Tue Jan 14, 2020 11:07am

Mark6012 wrote on Tue Jan 14, 2020 10:41am:

Thanks for the repliesI’m assuming brexit will have an effect on financials I’m also assuming that you have some sort of annual checks to show you still meet the criteria??

Brexit will lead to needing to prove an income of ~€2400 per month - effectively stopping people moving here - but I'm waiting to see what the Ministry of the Exterior say when the day comes.

RobScot

Posted: Tue Jan 14, 2020 12:11pm

RobScot

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Location: Benimar

Joined: 10 Apr 2019

Posted: Tue Jan 14, 2020 12:11pm

Received our residentia at Alicante on Boxing Day and with the proper paperwork it took us a whole 5 mins

jimtaylor

Posted: Tue Jan 14, 2020 12:39pm

jimtaylor

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Posts: 5612

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Location: Mudamiento

Joined: 2 Feb 2017

Posted: Tue Jan 14, 2020 12:39pm

RobScot wrote on Tue Jan 14, 2020 12:11pm:

Received our residentia at Alicante on Boxing Day and with the proper paperwork it took us a whole 5 mins

I'm sure it would help others if you'd advise whether they were looking for regular income over x months, or a lump sum, and whether they accepted UK bank statements.

RobScot

Posted: Tue Jan 14, 2020 1:00pm

RobScot

Helpful member

Posts: 252

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Location: Benimar

Joined: 10 Apr 2019

Posted: Tue Jan 14, 2020 1:00pm

They accepted bank statements from the last three months with a total over the €7000 each total.

Kush

Posted: Tue Jan 14, 2020 4:17pm

Kush

Helpful member

Posts: 113

115 helpful points

Joined: 21 Jul 2019

Posted: Tue Jan 14, 2020 4:17pm

RobScot wrote on Tue Jan 14, 2020 1:00pm:

They accepted bank statements from the last three months with a total over the €7000 each total.

Sorry to push this I'm a bit confused (doesn't take a lot) but did you show a 7,000+euro lump some or the 750euros a month figure that is expected.

Kush

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