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Hi All, I am looking for some advice about living in Spain. I own a flat in Torrivieja, I have another few years on the mortgage but ultimately plan to retire in Spain. I have savings money in my Spanish Bank. I am 62 so have a few more years work in me before I move there. However, When should I plan, should I investigate a Padron yet or leave it for a few years before trying for residency. Does anyone have some advice. Thanks.
Are you a UK passport holder and are you aware of the visa requirements ror residency.
Regarding a padron, you cannot sign on one unless you are resident, it's actually an offence carrying a potential fine of €10,000!
Ppottz wrote on Mon Apr 22, 2024 12:42am:
Hi All, I am looking for some advice about living in Spain. I own a flat in Torrivieja, I have another few years on the mortgage but ultimately plan to retire in Spain. I have savings money in my Spanish Bank. I am 62 so have a few more years work in me before I move there. ...
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...; However, When should I plan, should I investigate a Padron yet or leave it for a few years before trying for residency. Does anyone have some advice. Thanks.
I would certainly wait until nearer retirement time as retirements for income will certainly increase every year. Investigate all the visa requirements. As said, the Padron is for residents only.
I retired to live in Spain 10 years ago and have never regretted one day!
Steve
Posted: Mon Apr 22, 2024 8:24pm
tebo53 wrote on Mon Apr 22, 2024 8:32am:
I would certainly wait until nearer retirement time as retirements for income will certainly increase every year. Investigate all the visa requirements. As said, the Padron is for residents only.
I retired to live in Spain 10 years ago and have never regretted one day!
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Steve
Hi Steve, many thanks. I thought the same but getting hassled from the wife..
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Posted: Mon Apr 22, 2024 8:26pm
Darro wrote on Mon Apr 22, 2024 7:42am:
Are you a UK passport holder and are you aware of the visa requirements ror residency.
Regarding a padron, you cannot sign on one unless you are resident, it's actually an offence carrying a potential fine of €10,000!
Hi Daro, yes I am. Many thanks for letting me know.
Best to wait until you reach retirement age and get your pension if you can. You can then avoid the expense of private health insurance and get state paid with an S1.
However, many people do bear that expense if they think it's worth it and, in my opinion, it is.
Also be aware that your income tax will be higher here as the tax free allowance is not far half that of UK and there is no tax free level of interest on savings either. So saying, your council tax will be about 1/10th of the UK level but you also have community fees to take into account.
If you have the income and savings to meet the requirements for a UK visa holder then you should have no problem.
Best of luck with whatever you do. We are glad we moved out in our very early 60s but none of the visa, income or health requirements were in place then. Now there's no way my better half would even think of moving back to UK.
Posted: Wed Apr 24, 2024 1:39am
Helpful member
Ppottz wrote on Mon Apr 22, 2024 8:26pm:
Hi Daro, yes I am. Many thanks for letting me know.
Can you apply for an Irish passport, through your parents or grandparents?. If so this is the way to go, and now is the time.
As a UK(or any 3rd country) passport holder, the criteria at the moment is hard and only getting harder, and the major stumbling block is going to be health insurance (and even without pre-conditions, is only getting harder(and more expensive) as you get older as age applies).
Posted: Thu Apr 25, 2024 12:55am
marcliff wrote on Mon Apr 22, 2024 8:45pm:
Best to wait until you reach retirement age and get your pension if you can. You can then avoid the expense of private health insurance and get state paid with an S1.
However, many people do bear that expense if they think it's worth it and, in my opinion, it is.
Read more...
Also be aware that your income tax will be higher here as the tax free allowance is not far half that of UK and there is no tax free level of interest on savings either. So saying, your council tax will be about 1/10th of the UK level but you also have community fees to take into account.
If you have the income and savings to meet the requirements for a UK visa holder then you should have no problem.
Best of luck with whatever you do. We are glad we moved out in our very early 60s but none of the visa, income or health requirements were in place then. Now there's no way my better half would even think of moving back to UK.
Amazing advice, many thanks Marcliff.
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