# Financial Status



## Alan Huyton (Mar 11, 2008)

We are investigating the possibility of retiring to Spain and would like to find a source for clear and concise financial information. We need to make sure we meet the financial criteria i.e. savings/investment levels, pension plans, health schemes etc. What are the implications of getting a part time job or is it best to steer clear of employment. We have looked on various websites and either we are missing something or it is unclear. It would be great if someone can point us in the direction of self assessment site to make sure we meet the requirements as permanent residents.


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## Stravinsky (Aug 12, 2007)

Alan Huyton said:


> We are investigating the possibility of retiring to Spain and would like to find a source for clear and concise financial information. We need to make sure we meet the financial criteria i.e. savings/investment levels, pension plans, health schemes etc. What are the implications of getting a part time job or is it best to steer clear of employment. We have looked on various websites and either we are missing something or it is unclear. It would be great if someone can point us in the direction of self assessment site to make sure we meet the requirements as permanent residents.


There _are_ no requirements for permanent residence.
You just need to bear in mind that if you are not of retirement age or working then you will need private health cover, which here can cost about €1200 a year for a couple in mid fifties.

Work is not easy to get over here at the moment. If you get a part time job then you will pay tax on it here in Spain, together with any UK pensions / investment income (except a Civil service / teachers pension)


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## Alan Huyton (Mar 11, 2008)

Stravinsky said:


> There _are_ no requirements for permanent residence.
> You just need to bear in mind that if you are not of retirement age or working then you will need private health cover, which here can cost about €1200 a year for a couple in mid fifties.
> 
> Work is not easy to get over here at the moment. If you get a part time job then you will pay tax on it here in Spain, together with any UK pensions / investment income (except a Civil service / teachers pension)


Thanks for the quick reply, so there's no assessment into our financial independance? we had thought of initially entering into a long term rental to get settled in the area before we commit to buying a house - would this affect our residence status? work is not a priority although if the right property came along with a couple of spare rooms B & B might be an option but this will depend on the visitor numbers, are they down this year ? we have heard B & B are having it tough.

Sorry to bombard you but thanks for your help.


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## Stravinsky (Aug 12, 2007)

No there is no assessment procedure here in Spain, I think there used to be but not now. In France you have tyo prove health cover status I believe.

Renting has no effect either, in fact its a very good idea so you can be sure you are settling in the area you want. 

Once you arrive with intent to reside you apply for a foreigners certificate (what you would read as residency) on form EX16 at the local Police station. It costs less than €7 and gets done in many places whilst you wait.

As I said, you will probably need private health care as I see you are under retirement age, but once one of you reaches retirement age both of you will be covered under the spanish system. If you get an E106 from DWP before you leave the UK then you will get up to two years free health care under the state system here, depending on your UK contributions




Alan Huyton said:


> Thanks for the quick reply, so there's no assessment into our financial independance? we had thought of initially entering into a long term rental to get settled in the area before we commit to buying a house - would this affect our residence status? work is not a priority although if the right property came along with a couple of spare rooms B & B might be an option but this will depend on the visitor numbers, are they down this year ? we have heard B & B are having it tough.
> 
> Sorry to bombard you but thanks for your help.


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## Alan Huyton (Mar 11, 2008)

Stravinsky said:


> No there is no assessment procedure here in Spain, I think there used to be but not now. In France you have tyo prove health cover status I believe.
> 
> Renting has no effect either, in fact its a very good idea so you can be sure you are settling in the area you want.
> 
> ...


Thanks its cleared up a few very important points - very helpful. Our next trip is at the end of this month and we are really looking forward to it. We are going to explore the Andalucia area and then finish we a couple of nights on the coast.

Cheers


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## jojo (Sep 20, 2007)

Alan Huyton said:


> Thanks its cleared up a few very important points - very helpful. Our next trip is at the end of this month and we are really looking forward to it. We are going to explore the Andalucia area and then finish we a couple of nights on the coast.
> 
> Cheers


Well enjoy!!! Andalucia is beautiful

Jo xxx


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## Alan Huyton (Mar 11, 2008)

jojo said:


> Well enjoy!!! Andalucia is beautiful
> 
> Jo xxx


Thanks Jo

We are staying just outside Alcala la Real. Intend to visit Granada and may get a bit further afield - Any suggestions? We did wonder if it was as busy with tourists given the credit crunch and all? 

Cheers


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## jojo (Sep 20, 2007)

Alan Huyton said:


> Thanks Jo
> 
> We are staying just outside Alcala la Real. Intend to visit Granada and may get a bit further afield - Any suggestions? We did wonder if it was as busy with tourists given the credit crunch and all?
> 
> Cheers


Actually theres a thread somewhere on here started by "sunny spain" asking the same question, I'll see if I can find it and post it here!!

Jo xxx


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## jojo (Sep 20, 2007)

........ here you go, may give you some ideas... ignore the waffle LOL

http://www.expatforum.com/expats/sp...-places-visit-andalucia-your-opinion-lol.html

Jo xxx


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## Stravinsky (Aug 12, 2007)

jojo said:


> Well enjoy!!! Andalucia is beautiful
> 
> Jo xxx


He'll be very close to Donkey Country!!!!


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## SunnySpain (Jul 30, 2008)

Almunecar and Torrox must be fairly close to Granada

We have not been to either as yet but are planning on doing so


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