New Residencia Rules

Cardhu59 wrote on Sun Mar 28, 2021 1:07pm:

Hi, Regarding the new rules for UK citizens requiring an annual income, is Spanish property ownership taken into account?  With no rent coming off my pension I could exist comfortably but will not be able to meet the €27,000 threshold.

Thanks, 

tebo53 wrote on Sun Mar 28, 2021 1:20pm:

No, ownership of property in Spain does not count in any respect regarding your application for residency. You will however, need to meet the income requirements and have full healthcare. 

Steve 

Paolo51 wrote on Sun Mar 28, 2021 3:00pm:

🙄

Cardhu59 wrote on Sun Mar 28, 2021 3:07pm:

Thanks, Steve. Will just need to wait until Scotland rejoins the EU or my pension increases another couple of thousand. 😂

Portet wrote on Sun Mar 28, 2021 4:49pm:

I think evidence of savings can be used as well if you amass a few quid in the meantime

dinnerout wrote on Sun Mar 28, 2021 5:01pm:

I have also read that a combination of savings and equity may be taken into account but I can't say I know this as fact,  I just read that someone had successfully applied with that combination (ie an actual income level below IPREM)

For obvious reasons, equity would not include the Spanish home you intend to live in permanently. Perhaps a UK home and or a second Spanish home would help to reach the bar. ...

Read more...

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Taking this to an absolute extreme, say an applicant had £250,000 savings held in a UK bank account but only projected annual income of (just for example) £18000, I actually think they might be successful. 

(Ok it could be that the advice would be to move a large part of those savings into a Spanish account to show goodwill, but savings are absolutely borderless so I don't think it would make much difference)

Until we hear more from people who have been accepted or declined we won't know I suppose.

Steve

RobertBB wrote on Sun Mar 28, 2021 6:21pm:

I always wondered what would happen if the first year you could meet the income for application purposes then for some reason your income dropped, what happens then ?.