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Income requirements to reside in Spain

Posted: Fri May 21, 2021 12:48pm
2 replies319 views4 members subscribed
JOHSAR84

Posts: 129

32 helpful points

Location: Playa Flamenca

Joined: 19 Aug 2017

Like many others we thought our dream of retiring to Spain was over after the ridiculously high income requirements post brexit. 

However, things may not be quite as bad as first thought for some. 

I have contacted the Spanish consulate in Manchester to ask the question, mainly wanting to know if by owning a property in the UK if that would contribute to being part of the income. Whilst the answer to that unfortunately is no, this is what they replied with. 

'The proof of financial means must be shown visa bank statements, savings accounts, regular income (e.g. pension). It cannot be shown as ownership of property.' 

 I was always under the impression that income requirements meant exactly that so to know that it can also include savings in an account is much more encouraging. 

Hope this is helpful to some


PedroB

Posted: Fri May 21, 2021 8:27pm

PedroB

Helpful member

Posts: 454

359 helpful points

Location: Salinas

Joined: 27 Mar 2021

Posted: Fri May 21, 2021 8:27pm

JOHSAR84 wrote on Fri May 21, 2021 12:48pm:

Like many others we thought our dream of retiring to Spain was over after the ridiculously high income requirements post brexit. 

However, things may not be quite as bad as first thought for some. 

I have contacted the Spanish consulate in Manchester to ask the question, mainly wanting to know if by owning a property in the UK if that would contribute to being part of the income. Whilst the answer to that unfortunately is no, this is what they replied with. 

'The proof of financial means must be shown visa bank statements, savings accounts, regular income (e.g. pension). It cannot be shown as ownership of property.' 

 I was always under the impression that income requirements meant exactly that so to know that it can also include savings in an account is much more encouraging. 

Hope this is helpful to some


That sounds very positive. Thanks. 

janiceroquero

Posted: Sat May 22, 2021 12:29pm

janiceroquero

Helpful member

Posts: 762

499 helpful points

Location: Santa Pola

Joined: 21 Aug 2020

Posted: Sat May 22, 2021 12:29pm

JOHSAR84 wrote on Fri May 21, 2021 12:48pm:

Like many others we thought our dream of retiring to Spain was over after the ridiculously high income requirements post brexit. 

However, things may not be quite as bad as first thought for some. 

I have contacted the Spanish consulate in Manchester to ask the question, mainly wanting to know if by owning a property in the UK if that would contribute to being part of the income. Whilst the answer to that unfortunately is no, this is what they replied with. 

'The proof of financial means must be shown visa bank statements, savings accounts, regular income (e.g. pension). It cannot be shown as ownership of property.' 

 I was always under the impression that income requirements meant exactly that so to know that it can also include savings in an account is much more encouraging. 

Hope this is helpful to some


The requirements are not ridiculously high. They are realistic, and have always been the same for countries outside the European Union (unless they have a specific agreement).

Greece requires proof of a property in Greece worth over 250.000 euros.

All the EU countries have their own requirements. Rumania and Bulgaria have much lower requirements.

Good luck.

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