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income

Posted: Thu Mar 24, 2022 11:04am
115 replies4201 views14 members subscribed
leew

Posts: 21

Location: Torrevieja

Joined: 28 Mar 2021

what's is this I keep seeing that you need proof of at least 32.ooo euros income every year if you wont to move over to spain ?

tebo53

Posted: Thu Mar 24, 2022 12:00pm

tebo53

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Posts: 2857

2962 helpful points

Location: Benidorm

Joined: 29 May 2018

Posted: Thu Mar 24, 2022 12:00pm

leew wrote on Thu Mar 24, 2022 11:04am:

what's is this I keep seeing that you need proof of at least 32.ooo euros income every year if you wont to move over to spain ?

Hi Leew,

If you are a UK passport holder and you want to come and live in Spain permanently you will need,  initially, to apply for a visa from the Spanish consulate in London, Manchester or Edinburgh. 

If you want to retire to Spain and not work you will need to apply for a non lucrative visa and you need to prove that you have an income of €27,792.96 per annum and €6,948.24 for each additional family member. All members of the family, including yourself will also need full private healthcare paid for a full year. 

If you want to live in Spain and need to work then that is another story!!

If you gain a visa then you can move over to Spain and apply for residency. 

Since Brexit a UK passport holder cannot just move to Spain and take up residency. 

Steve 

GrahamLynn

Posted: Thu Mar 24, 2022 12:10pm

GrahamLynn

Super helpful member

Posts: 1319

1230 helpful points

Location: El Raso

Joined: 9 Jul 2017

Posted: Thu Mar 24, 2022 12:10pm

No not quite right. Currently for a single person the figure is 27,792.96€ per annum for the first five years of residency. Plus you need the funds to pay  for your Non Lucrative Visa and your private healthcare. You are not allowed to work in Spain on 

See link below

https://myspainvisa.com/non-lucrative-visa-spain/


Lynn

Kimmy11

Posted: Thu Mar 24, 2022 6:36pm

Kimmy11

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Posts: 5307

10060 helpful points

Joined: 8 Aug 2017

Posted: Thu Mar 24, 2022 6:36pm

Hi leew,

If you've seen a figure of €32,000 it's because out-of-date figures are being quoted.  As Steve has advised, the current income requirement is a little under €28k for the first applicant and just under €7k for the second applicant, so that's a total of nearer €35k for a couple.  As these figures are based on a 4x multiple of the Spanish IPREM figure, which is usually increased each January, this figure is likely to increase.  This is important to remember as the application for Spanish residency since Brexit, via a NLV (Non Lucrative Visa), requires the applicant/s to prove this amount at the initial visa application and at each of the 2 year renewals at years 2 and 4, until you have achieved 5 years´ full-time residency.  

Unfortunately, Brexit has made a significant difference to UK citizens hoping to move to Spain.  In many cases, the financial and healthcare requirements that UK citizens now have to meet, as Third Country Nationals, have pushed Spanish residency out of reach.

Kind regards,

Kim

Davebev1

Posted: Thu Mar 24, 2022 7:10pm

Davebev1

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Posts: 1249

1709 helpful points

Location: Playa Flamenca

Joined: 7 Nov 2017

Posted: Thu Mar 24, 2022 7:10pm

The 'income' can also be made up of money in the bank and income, so if your actual income falls short then you will need to keep the extra to meet the requirement (which rises slightly each year) in the bank.  You need to show you have sufficient means for the first five years.  Once resident for a year you can switch from private health cover to Convenio (but it doesn't cover all healthcare costs) or S1 if a pensioner.  After five years you become a permanent resident and then no one checks what funds you have available.  Sadly, unless you hold an EU passport rather than a UK one brexit meant you lost freedom of movement.

Mctb62

Posted: Fri Mar 25, 2022 4:54pm

Posts: 14

5 helpful points

Location: Pinoso / El Pinós

Joined: 4 Feb 2022

Posted: Fri Mar 25, 2022 4:54pm

Just over £27000 for the first person and approx £7000 each dependant for the first year. Year 2 its double as its a two renewal. Same again at year 4 after year 5 can apply for permanent residence. This is the basic for NLV

DUI

Posted: Fri Mar 25, 2022 8:52pm

DUI

Helpful member

Posts: 195

300 helpful points

Location: Denia

Joined: 6 Nov 2021

Posted: Fri Mar 25, 2022 8:52pm

Well as I always say,and Brexiters don’t like to hear it,thank anyone you know that voted for brexit.These are the fools that have amongst many things made more expensive and difficult to retire to Spain.And to the Brexiters......no,I’m not going to get over it.You don’t get away that lightly.

Stevec61

Posted: Sat Mar 26, 2022 12:58am

Stevec61

Very helpful member

Posts: 989

826 helpful points

Location: Playa Flamenca

Joined: 3 Jan 2016

Posted: Sat Mar 26, 2022 12:58am

DUI wrote on Fri Mar 25, 2022 8:52pm:

Well as I always say,and Brexiters don’t like to hear it,thank anyone you know that voted for brexit.These are the fools that have amongst many things made more expensive and difficult to retire to Spain.And to the Brexiters......no,I’m not going to get over it.You don’t get away that lightly.

Give it a rest ffs, you’re becoming a tedious, boring, repetitive bore….

DUI

Posted: Sat Mar 26, 2022 9:17am

DUI

Helpful member

Posts: 195

300 helpful points

Location: Denia

Joined: 6 Nov 2021

Posted: Sat Mar 26, 2022 9:17am

Stevec61 wrote on Sat Mar 26, 2022 12:58am:

Give it a rest ffs, you’re becoming a tedious, boring, repetitive bore….

As I said Brexiters don’t like to hear it.

tebo53

Posted: Sat Mar 26, 2022 9:20am

tebo53

Legendary helpful member

Posts: 2857

2962 helpful points

Location: Benidorm

Joined: 29 May 2018

Posted: Sat Mar 26, 2022 9:20am

DUI wrote on Sat Mar 26, 2022 9:17am:

As I said Brexiters don’t like to hear it.

I have lived in Spain for years and didn't vote for Brexit, so get all your facts right and go see a doctor!!

Steve 

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