Posted: Wed Feb 17, 2021 1:19am
Hi pelham99,
These financials have increased, as Spain's IPREM figure, on which the financial requirements are based, have increased for 2021. The figures are now:
SPAIN IPREM 2021 (Eu 569.40 per week) - Financial requirements for residency:
1st Person 4 x IPREM per annum Eu 27,115.20
1st Dependant 1 x IPREM per annum Eu 6,778.80
Per couple per annum Eu 33,894.00
The Non-Lucrative Visa/Permit is for one year, so for you and your wife, the amount for the first year would be Eu 33,894. However, the permit renewals are for 2 years, so subsequent applications would require a figure of double that, i.e. Eu 67,788. Once you've lived here for 5 years (1st year permit + 2 x 2 year renewals), you achieve 5 years' "Residencia Permanente" and no further renewals are needed.
While these visas have been around for years for other Third Country Nationals, they only became applicable to UK citizens from 1 January this year. The hope is that special arrangements will be made for UK citizens wanting to move to the EU in the future, but with Covid-19 being the highest priority for governments currently, I can't see this getting much attention any time soon.
Regarding healthcare, my husband and I are 63 and 60 respectively, so we have to pay for private health insurance until we reach State retirement age. We're with ASSSA, with no pre-existing conditions, and pay Eu 1,870 per year for mid range cover. You'll need private health insurance for your Visa/Permit application, but after the first year, I believe you can switch to the Convenio Especial, which costs Eu 60 per person, per month, rising to Eu 157 per person, per month when you reach age 65. Depending on how long you have to go to retirement, it usually works out cheaper to switch to the C.E., even with the hike in price at age 65.
Kind regards,
Kim