# British retiring in Spain post Brexit



## Mikecr (May 13, 2021)

Hey Guys, Michael here. Thinking about moving to Spain (obviously Brexit and covid) has thrown up issues around that. Just re-searching at the moment but Ideally I wanted to move to spain without a job as would be looking to retire. So can purchase a property outright, have an income off investments and also have money in the bank. But since brexit (and I don't know if this is true) I believe I need to show I have an income of 700 Euros per month before i'd be considered for a visa.


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## kaipa (Aug 3, 2013)

No the income level is approx 2,000 euros a month. You need to apply for a Visa in UK first before you can register in Spain. You will also need a private healthcare policy. The amount you are quoting is for EU citizens which we are no longer.


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## kaipa (Aug 3, 2013)

I should add that no one here on the forum has heard of anyone from UK being successful with the NL Visa due to Covid restrictions. So we are all waiting someone to post a successful outcome


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## xabiaxica (Jun 23, 2009)

kaipa said:


> I should add that no one here on the forum has heard of anyone from UK being successful with the NL Visa due to Covid restrictions. So we are all waiting someone to post a successful outcome



There are lots posting of their successful & ongoing applications on a FB group I use - some have even already landed in Spain. 

Both the London & Manchester consulates have been doing appointments for some weeks now.


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## kaipa (Aug 3, 2013)

I didn't say it wasnt happening just that on this forum there has been no posting of successful outcomes just yet


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## xabiaxica (Jun 23, 2009)

Mikecr said:


> Hey Guys, Michael here. Thinking about moving to Spain (obviously Brexit and covid) has thrown up issues around that. Just re-searching at the moment but Ideally I wanted to move to spain without a job as would be looking to retire. So can purchase a property outright, have an income off investments and also have money in the bank. But since brexit (and I don't know if this is true) I believe I need to show I have an income of 700 Euros per month before i'd be considered for a visa.


As mentioned, even with a property bought outright - even if on a so-called Golden Visa with a property of 500k euros bought outright, a monthly income of much more than 700€ is required. That figure is nearer to the requirements for EU citizens. 

It's 4 x IPREM (the figure based upon a notional minimum requirement for basic living)

2021 monthly IPREM is 564,90 € - so you'd need 2259.60€ a month.

That's the same figure whether you go the 'Golden Visa' route or not, but the Golden Visa gives a bit more freedom.


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## tebo53 (Sep 18, 2014)

xabiaxica said:


> As mentioned, even with a property bought outright - even if on a so-called Golden Visa with a property of 500k euros bought outright, a monthly income of much more than 700€ is required. That figure is nearer to the requirements for EU citizens.
> 
> It's 4 x IPREM (the figure based upon a notional minimum requirement for basic living)
> 
> ...


The income requirements for a NLV are €27,115.20 per annum for the first person plus additional €6,778.80 per annum for each additional person. Ownership of property does not give you any additional rights whatsoever.

Steve


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## Mikecr (May 13, 2021)

Thank you all for your feedback. This is exactly why I signed up to start getting actual facts as looks like some of my info is out of date. Appreciate the info.
I guess Spain isn’t for me after all then 😂, 

But it’s things like this that all have to be taken in to consideration. I’d look to purchase outright on a 250-70 property then live off around 1200 EUR income.


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## Megsmum (Sep 9, 2012)

Mikecr said:


> Thank you all for your feedback. This is exactly why I signed up to start getting actual facts as looks like some of my info is out of date. Appreciate the info.
> I guess Spain isn’t for me after all then 😂,
> 
> But it’s things like this that all have to be taken in to consideration. I’d look to purchase outright on a 250-70 property then live off around 1200 EUR income.


I suspect most of Europe will be similar.. UK now a third country. French forum will advise on what the French government requires re visas etc 

Those figures with house etc would have been sufficient pre brexit to get residency here. Unfortunately for those wanting to move now, a new post brexit day has dawned and the UK is now like everyone else from outside the EU who want to emigrate just like those who want to emigrate to the UK 

Best of luck


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## Lynn R (Feb 21, 2014)

Actually the income required for retirement visas for European countries are surprisingly varied. Portugal is much lower than Spain, around €10k per year, and Greece is around €14k per year. Italy's requirements are higher than Spain's.


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## Megsmum (Sep 9, 2012)

Lynn R said:


> Actually the income required for retirement visas for European countries are surprisingly varied. Portugal is much lower than Spain, around €10k per year, and Greece is around €14k per year. Italy's requirements are higher than Spain's.


Interesting. Based on what average incomes etc. 

I expect healthcare arrangements must vary too then. I think Portugal offers free but I'm not certain


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## Mikecr (May 13, 2021)

Does money you bring with you account for anything? E.g showing an income of 1200EUR a month and 50k in the bank.


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## Megsmum (Sep 9, 2012)

Mikecr said:


> Does money you bring with you account for anything? E.g showing an income of 1200EUR a month and 50k in the bank.


Used too...not sure it does anymore


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## Joppa (Sep 7, 2009)

Mikecr said:


> Does money you bring with you account for anything? E.g showing an income of 1200EUR a month and 50k in the bank.


Since NLV is initially valid for a year, you need to show non-earned income such as pensions, investment, rental etc or lump sum equal to the required annual income. For renewal, you need to double your income or savings, as it's for 2 years, then there is further renewal for 2 years, after which you are granted permanent residency.


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## Mikecr (May 13, 2021)

Ok that makes sense. Technically as long as you could show that increase when you renew it after year 1 then double that in year 3 when you renew then it _should_ be ok.

id Have to call/book and interview to find out when things settle down a bit


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## trotter58 (Feb 8, 2017)

Lynn R said:


> Actually the income required for retirement visas for European countries are surprisingly varied. Portugal is much lower than Spain, around €10k per year, and Greece is around €14k per year. Italy's requirements are higher than Spain's.


There are also tax incentives for new migrants to Portugal which makes it less punitive than Spain. Have a look at areas near the Spanish border and get the best of both worlds.


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## trotter58 (Feb 8, 2017)

Mikecr said:


> Does money you bring with you account for anything? E.g showing an income of 1200EUR a month and 50k in the bank.


It should, each applicant is assessed individually.

At the end of the day they want to make sure you won't become a burden to the Spanish state and as they don't give out benefits to all and sundry, like the UK, you're not likely to be entitled to anything anyway.

Info' on Spanish NLV (and others) here.....http://www.exteriores.gob.es/Consulados/LONDRES/en/Consulado/Pages/Visas.aspx

Good luck


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## Lynn R (Feb 21, 2014)

trotter58 said:


> There are also tax incentives for new migrants to Portugal which makes it less punitive than Spain. Have a look at areas near the Spanish border and get the best of both worlds.


The Portugese NHR tax regime is not, however, as beneficial as it used to be regarding foreign pension income - it is now taxed at 10% (including lump sums) whereas it was tax free for the first 10 years previously.









Portuguese taxes for 2021 | Blevins Franks Advisers


How are UK expatriates taxed in Portugal? See Portuguese taxes for 2021 on income, investments, capital gains and wealth, plus the NHR rules.




www.blevinsfranks.com





Tax is not the only thing to base your decision on where to live on, though. One of the things that decided us in favour of Spain when we were considering our retirement location was infrastructure and public services, particularly health. Everything I have heard and family have experienced of the Portugese public health system continues to make me believe we made the right choice. I have seen many reports of people saying they have been unable to register with a named GP because they are in short supply (and this applies to Portugese nationals too). Just this week I have seen this post elsewhere from someone who has been admitted to a hospital in the Algarve having had an accident and broken their ankle, desperately asking how he can arrange transfer to a private hospital as they cannot tell him when they will be able to operate on the ankle, and the replies say that this is quite a common state of affairs. 

"Has anyone had any experience in changing from public to private hospitals? I just called a hospital in Lagos and told them absolutely nothing is happening here and they said they could arrange to see an ortho tomorrow. The best Iâve had here is maybe next week. Every question I ask is answered with no, even changing to the now empty electronic bed next to me. Has anyone undergone a broken ankle operation and if so what was the cost? Iâm ready to buy my way out of here."

When my sister was killed in an accident on the Silver Coast in 2019 (knocked down on a pedestrian crossing), she was "treated" at the scene in a first response ambulance staffed by volunteer firefighters with only first response training for almost an hour until a "proper" ambulance from Caldas da Rainha arrived to transfer her to the hospital there, before being transferred to the major trauma hospital in Lisbon some hours later. We will never know whether her chances of survival would have been improved had she been airlifted to that hospital directly from the scene of the accident.


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## James34 (Aug 29, 2021)

xabiaxica said:


> There are lots posting of their successful & ongoing applications on a FB group I use - some have even already landed in Spain.
> 
> Both the London & Manchester consulates have been doing appointments for some weeks now.


Could you point me in the direction of the Facebook group. Have an account but never use it. Looking to move to Spain (Valencia region) on a non lucrative visa in January and need to start getting things ready. Thanks


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