# Residencia - sufficient funds



## dazbear (Feb 22, 2016)

I know this has been debated before, but the definition of 'sufficient funds for residencia' is driving me nuts. Every website or person says something totally different.

We are an unmarried UK couple.

We wont be working in Spain, but would have proof of income from our UK properties to around 3000 Euros per month. We will have savings each of around 7000 Euros and credit card limits each to 10000 Euros.

Would this suffice?

Thanks


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## snikpoh (Nov 19, 2007)

dazbear said:


> I know this has been debated before, but the definition of 'sufficient funds for residencia' is driving me nuts. Every website or person says something totally different.
> 
> We are an unmarried UK couple.
> 
> ...


It should be sufficient IF it goes to each of you individually. As you are not married, then you BOTH need to show the required income.

Is this income going in to a Spanish bank? Are the savings in a Spanish bank? This can be a deal breaker with some extranjeria.

Are you declaring this income in Spain? You will certainly need to even though you may be paying tax on it in UK.


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## dazbear (Feb 22, 2016)

We are planning on moving next year, but trying to get an answer to this crucial question is like nailing jelly!

We would have individually
1600 Euros from rental which could be paid into a Spanish bank
7000 Euros in then bank each - this could be easily held in a Spanish bank
10,000 Euros credit card limit (on UK credit card)

We would declare, as there would be no additional tax to pay in Spain after paying HMRC due to the various allowances you can apply on rental income once a resident - hence going for residencia


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## snikpoh (Nov 19, 2007)

dazbear said:


> We are planning on moving next year, but trying to get an answer to this crucial question is like nailing jelly!
> 
> We would have individually
> 1600 Euros from rental which could be paid into a Spanish bank
> ...



I don't really understand your concerns ...

The usual wisdom/facts (as experienced by others) are income of 600€ each per month and/or 6000€ in the bank.

Sometimes credit cards are taken into account - sometimes not. Sometimes owning a property helps and again, sometimes not.


You both seem to meet the requirements.


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## dazbear (Feb 22, 2016)

Thanks - The requirements for non EU citizens is clear - they have to prove they earn 400% of the minimum wage per person, which works out around 22,000 Euros each - which we wouldn't have.

It has been a nightmare to get any sense of EU citizens requirements.

Of course the clock is now ticking /


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## Jesnat (Mar 5, 2016)

We recently got our residence in Cartagena as we live in San Javier, Costa Blanca/Calida. We have a joint Spanish bank account with around the same amount as you - and that's all they needed to see (plus healthcare, rental contract, passports and NIE). 

I would definitely have your savings in a Spanish Bank. It might also be worth having a summary of your UK rental income translated into Spanish as back up. 

Having read a number of posts on this issue my understanding is that each region/foreigners office can be different!


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## dazbear (Feb 22, 2016)

Thanks for this.

What health care plan did you go for. This seems to be another grey area as to the minimum cover accepted. I am hearing 30,000 Euro minimum and no excesses allowed /


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## Pesky Wesky (May 10, 2009)

Hi there,
have you considered that the reason that it's difficult for you to get an answer is because there is no answer? Spain isn't like the UK where for this kind of thing there is a national law laid down. The amount you will be expected to have varies depending on the local authority, so to get the Real Answer you will have to go to the authorities in the place you decide to live in. Even then you may get different answers from different people you speak to in the same organisation. Also these things change quite frequently so you need to check nearer the time of moving. On the forum we have heard the figures of 600€, 800€ and I believe recently xabiachica quoted 1000€ per person, but I'm not sure about that last one. Anyway, as no one knows for sure, but you don't seem to have any problems on the financial front, aim high and see what happens on the day.
I also think you have to have a monthly income and proof of that over a number of payments and you have to have that paid into a Spanish bank account.
However, the best thing is to go to the proper Spanish authorities and get the info from them.


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## Jesnat (Mar 5, 2016)

We went with AXA - pretty standard policy I think. Covers everything but we have to pay an excess each time we visit the doc etc. But not too onerous and excess is capped. Also looked at Sanitas. Sorry don't know what the max is. There are lots of earlier posts on this. It's not too difficult to get a quote. We went with AXA really because they have a local office and the guy was very helpful.


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## dazbear (Feb 22, 2016)

Thanks for everyone's advice on this. I suppose PeskyWesky is right, I need to get more into how Spain's regional system works.

One final question - as an unmarried same sex couple - do you think a joint Spanish bank account would be OK or better to have separate to prove our incomes?

Thanks


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## Jesnat (Mar 5, 2016)

I think the point we are trying to make is there is no 'regional system' to get your head around as each foreigner’s office seem to require slightly different things. The objective is to show the authorities you have enough money to live on, have adequate health care provision and so won't be a burden on the state. I think the general consensus is to be able to show individual savings of around 6k euros each, but check previous threads on this. An additional regular income such as UK rent might also be helpful as backup, but we didn't need that in Cartagena, just our bank statement. Can't answer your question on bank accounts, but I wouldn't think it would make a difference either way as long as both names are on the account and the total is 12k or more.


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