financial requirements for moving from uk to spain

Watching this post with interest..been on a few sites looking for answers to this question..conflicting advice given..

That is because it varies from region to region here in Spain and indeed consulate to consulate where you make application - also, it must be highlighted, from official to official receiving the application. Welcome to Spanish bureaucracy.

The actual figure you will be tested on is 400% of IPREM per primary applicant and IPREM for each dependent.  IPREM is an index used in Spain as a reference for the granting of economic aids, grants, allowances or the unemployment benefit among others. (See HERE for information on IPREM)

Currently IPREM is 564,90€ so a primary applicant will need to prove 27.115,20€ per annum and 6.778,80€ per annum for each dependent on the application.  This is the minimum amount and consulate can ask for more.

In Andalucia, as far as I am aware, this can be shown by having that amount available as savings in a bank account, HOWEVER bear in mind when your first visa renewal comes up you have to prove finance again and as the renewal is for two years, you MUST show sufficient for entire period, so at that point you’ll have to show 54.230,40€ for primary applicant and 13.557,60€ for each dependent.  The same again two years later when you again have to apply to extend visa and prove for two years.

After 5 years you are permanent resident and no longer have to apply to extend visa

Thank you Dario. At last clarity. It also can mean the sum could increase over time.

Portugal is now looking more attractive.

Yes, IPREM is assessed every year and is likely to rise incrementally each year.

Portugal are going all out to attract British nationals, including offering a 10 YEAR tax break of a flat 10%.  I do understand property there is a shade more pricey though.