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New rules on retirement and/or buying in spain

Posted: Thu Dec 31, 2020 3:45pm
84 replies7240 views23 members subscribed
Dennis 68

Posts: 3

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Location: Torrevieja

Joined: 23 Dec 2017

I have followed this site for many years now keeping up to date with things from information given here with the intention of trying to buy there but having read some of the new rules just brought in that has been made impossible now the requirements now are way over the top I can't see many Brits buying there in the future  if at all, and I think there will be a vast drop in people going there for holidays given the amount you need to show while there I would hope that Spain comes to realize that they will have shot their self in the foot and re-think and if not lets hope the UK does the same

Kelvin1960

Posted: Thu Dec 31, 2020 4:10pm

Kelvin1960

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Posted: Thu Dec 31, 2020 4:10pm

I doubt that holidays will be massively impacted.

Residency seems now to be much more difficult.

Britain has chosen to become a 3rd country. Brits will now be treated like other 3rd country citizens.

Spain didn't want this.

George55

Posted: Thu Dec 31, 2020 4:16pm

George55

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Posted: Thu Dec 31, 2020 4:16pm

While the requirements for permanent residency have siginificantly increased which I think will result in a drop in those opting to go down that route, there are plenty of options that could be considered. If you don't meet the income requirements you could drawn down equity from the UK to prove finances. (They don't check any UK assets or that they're unencumbered - it's generally cash in a Spanish bank as that's the easiest way for them to check). So you could also potentianlly raise cash against the Spanish home too accepting that age may not be helpful here in getting a mortgage.

Also, I think alot of people make the decision at a point in time near to when their pension (private) is due which you can use to draw down a lump sum which may make it achieveable at the point in time of the application. Yes, I think it needs more planning which will put people off, but I don't think it will be a dramatic curtailment. People may also simply opt down the 90 in 180 rather than full residency.

For holiday makers, while there's more requirements, it is not like any of them are above and beyond what you would normally have when going on holiday:

(i) a return ticket

(ii) cash to spend while on holiday 

(iii) if not cash, most people I think will have some form of bank on their phone so could show statements on that

It also worth noting that the documentation as I recall also says they "may" request this info from people arriving. Not that they "will".

Dennis 68

Posted: Thu Dec 31, 2020 4:24pm

Dennis 68

Original Poster

Posts: 3

8 helpful points

Location: Torrevieja

Joined: 23 Dec 2017

Posted: Thu Dec 31, 2020 4:24pm

George55 wrote on Thu Dec 31, 2020 4:16pm:

While the requirements for permanent residency have siginificantly increased which I think will result in a drop in those opting to go down that route, there are plenty of options that could be considered. If you don't meet the income requirements you could drawn down equity from the UK to prove ...

...finances. (They don't check any UK assets or that they're unencumbered - it's generally cash in a Spanish bank as that's the easiest way for them to check). So you could also potentianlly raise cash against the Spanish home too accepting that age may not be helpful here in getting a mortgage.

Also, I think alot of people make the decision at a point in time near to when their pension (private) is due which you can use to draw down a lump sum which may make it achieveable at the point in time of the application. Yes, I think it needs more planning which will put people off, but I don't think it will be a dramatic curtailment. People may also simply opt down the 90 in 180 rather than full residency.

For holiday makers, while there's more requirements, it is not like any of them are above and beyond what you would normally have when going on holiday:

(i) a return ticket

(ii) cash to spend while on holiday 

(iii) if not cash, most people I think will have some form of bank on their phone so could show statements on that

It also worth noting that the documentation as I recall also says they "may" request this info from people arriving. Not that they "will".

As always here valid answers i think its just a case of wait and see lets hope it gets better as time goes on

dinnerout

Posted: Thu Dec 31, 2020 10:59pm

dinnerout

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Joined: 18 Sep 2015

Posted: Thu Dec 31, 2020 10:59pm

Dennis 68 wrote on Thu Dec 31, 2020 3:45pm:

I have followed this site for many years now keeping up to date with things from information given here with the intention of trying to buy there but having read some of the new rules just brought in that has been made impossible now the requirements now are way over the top I can't see many Brit...

...s buying there in the future  if at all, and I think there will be a vast drop in people going there for holidays given the amount you need to show while there I would hope that Spain comes to realize that they will have shot their self in the foot and re-think and if not lets hope the UK does the same

Blaming Spain for the UK voting to leave the EU? 

That's not really very logical is it?

This is what 17.4 million people voted for I'm afraid. If they had put last night's deal on a bus before the vote, things would have been very different. But they sold the vote on emotion not on facts.

Nothing to blame Spain for Dennis. Anywhere in the EU will have the same regulations and the same entry papers requirement even for a holiday.

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Davebev1

Posted: Fri Jan 1, 2021 12:45am

Davebev1

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Posted: Fri Jan 1, 2021 12:45am

Dennis 68 wrote on Thu Dec 31, 2020 3:45pm:

I have followed this site for many years now keeping up to date with things from information given here with the intention of trying to buy there but having read some of the new rules just brought in that has been made impossible now the requirements now are way over the top I can't see many Brit...

...s buying there in the future  if at all, and I think there will be a vast drop in people going there for holidays given the amount you need to show while there I would hope that Spain comes to realize that they will have shot their self in the foot and re-think and if not lets hope the UK does the same

How can Spain have shot themselves in the foot when it was the UK who picked up the gun and pulled the trigger? 

The downsides were spoken off (not by those campaigning to leave, obviously) but they were labeled 'project fear' - well, those things are now reality.

People can still have holidays in Spain, still buy a holiday home in Spain and still spend virtually half the year in Spain, just not in one lump, (which was never legal anyway).  The love affair Brits have with Spain is still strong. It will be harder to retire to Spain because of the loss of freedom of movement resulting in a higher income threshold. 

Don't blame Spain for the fact that British politicians lied to their own electorate, 17.4 million of whom decided to not bother checking the facts because they liked the lies.

John 52

Posted: Fri Jan 1, 2021 5:31pm

John 52

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Posted: Fri Jan 1, 2021 5:31pm

This post that was quoted has been deleted.

I'd like to commend Michaelmlrb ,to me his reply seems to be the most rational, fact is nobody knows how this will actually pan out ,unless there are clairvoyant on here .or until someone actually makes the trip UK  to Spain on an aeroplane, they will then find out what they are required to produce for entry 

dinnerout

Posted: Fri Jan 1, 2021 5:43pm

dinnerout

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Posts: 2222

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Posted: Fri Jan 1, 2021 5:43pm

John 52 wrote on Fri Jan 1, 2021 5:31pm:

I'd like to commend Michaelmlrb ,to me his reply seems to be the most rational, fact is nobody knows how this will actually pan out ,unless there are clairvoyant on here .or until someone actually makes the trip UK  to Spain on an aeroplane, they will then find out what they are required to ...

...produce for entry 

Looking at other forums and indeed this one, I think many who have not yet applied for Residencia will be looking closely at what happens next.

This is because the new information posted onto the Spanish Consul websites appears at least to SUGGEST that the situation has or might be changing quite dramatically. 

That is because depending on how you interpret the text, it could be that an application for Residencia can no longer be made during a 90 day visit into Spain, that it needs to be made from your residence in the UK. I hope this is wrong, but it's definitely causing a lot of debate in the last 24 hours since it was announced.

As John52 said above, it's going to be interesting to hear from new applicants and visitors about how they have got on.

Steve

Davebev1

Posted: Fri Jan 1, 2021 6:34pm

Davebev1

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Posted: Fri Jan 1, 2021 6:34pm

dinnerout wrote on Fri Jan 1, 2021 5:43pm:

Looking at other forums and indeed this one, I think many who have not yet applied for Residencia will be looking closely at what happens next.

This is because the new information posted onto the Spanish Consul websites appears at least to SUGGEST that the situation has or might be changing quite dramatically. ...

...

That is because depending on how you interpret the text, it could be that an application for Residencia can no longer be made during a 90 day visit into Spain, that it needs to be made from your residence in the UK. I hope this is wrong, but it's definitely causing a lot of debate in the last 24 hours since it was announced.

As John52 said above, it's going to be interesting to hear from new applicants and visitors about how they have got on.

Steve

Brits won't be applying for residencia anymore. The normal process for applying for TIE is to do so before arriving, as it is with emigrating to most countries. The waters have been mudded by Brits in the last few months applying for TIE under residencia rules during the transition period. Now transition is over the normal TIE application rules will apply.

dinnerout

Posted: Fri Jan 1, 2021 6:40pm

dinnerout

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Posts: 2222

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Location: Beniarbeig

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Posted: Fri Jan 1, 2021 6:40pm

Davebev1 wrote on Fri Jan 1, 2021 6:34pm:

Brits won't be applying for residencia anymore. The normal process for applying for TIE is to do so before arriving, as it is with emigrating to most countries. The waters have been mudded by Brits in the last few months applying for TIE under residencia rules during the transition period. Now tr...

...ansition is over the normal TIE application rules will apply.

Forgive me for describing TIE as Residencia but surely you knew what I meant.

I think many new applicants are very unclear about the update. Many would have expected to be able to apply while in Spain. The more debate perhaps the more that clear information emerges.

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