New retirement to Spain post transition

SeanPE wrote on Wed Jul 1, 2020 8:11am:

Hi All,

My wife and I want to retire to Almeria in the next couple of years. Time and issues have prevented us doing this sooner.  Can the good people on here advise on the complications we are going to face post transition?

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Clearly, unless we buy before end December, we won’t be able to apply for residency. I have applied for Irish citizenship but my wife is not entitled.  What are our chances of living a full and normal life in the Almeria region once we are beyond transition? I don’t mind saying we both voted to remain because we like Europe and Spain and Italy in particular!

Any advice or guidance is gratefully received. 

DarioMartin wrote on Wed Jul 1, 2020 9:25pm:

You’ll get plenty of info on this one, so I’ll get the ball rolling.

Firstly, you don’t need to have bought pre-end transition - just be residing.  That means you can take a rental over the winter months, and as long as you register on the Padrón at the town hall before 31/12, then, you’ve arrived in Spain prior to end of transition period and now have u...

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...ntil 30/6/21 to get Residencia sorted out.

Ok - Irish passport - if you have one, and your wife not, then you get in as an EU citizen and your wife comes in as the dependent of an EU citizen, still under Residencia rules.

The first two scenarios are by far and away the best news for you, because if you only have a British passport and arrive post transition period, then the first thing you now have to contend with is that pension reciprocity will cease for those arriving post 31/12, you will not get an S1 form, you cannot transfer pension across and you will be wholly responsible for obtaining private health cover.

Then there is the financial burden ... this is a copy and paste from someone else who did the legwork on this, and so my Thanks to Dave777 for providing this:

A. The main income earner needs to prove they have a minimun pension of approximately €2100 per month and if married the spouse has around €600 pm income = €2700 pm (its actually slightly less).  If not married they both need to prove income of €2100 pm.

B. If they cannot officially prove via Tax statements the above, they then need to prove they have savings for one year of €33000 per married couple. At the end of year 1 they have to prove savings for Years 2 and 3 (€66000 approx) and the same again for years 4 and 5 before residence can be obtained.

C. Arriving after 31 December the reciprocal healthcare arrangements no longer apply. Private health policies have to be purchased and shown to the relevant authorities before you are granted permission to rent long term or buy. These are around €5400 pp pa with no health conditions. Much more with underlying health conditions. 

SeanPE wrote on Wed Jul 1, 2020 9:45pm:

Thank you DarioMartin! Phew, a lot to take in there.

A couple of clarifications if I may. Is the €66k in years 2&3 and 4&5 meant to be an amount of money that just sits in an account, can’t be used etc ( or some could be used provided the float remains at 66k)?

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I gathered we would probably have to get private healthcare. You suggest it is about €900 a month for both of us. That is painful, so is it right? It’s very onerous for a retired couple.

Reality could end dreams!

DarioMartin wrote on Wed Jul 1, 2020 10:54pm:

The money in years 2 & 3 and years 4 & 5 must be available to prove you have sufficient income to cover those periods; this is normally done by producing a certificate of average balance supplied by the bank ... so yes, as long as you can show that you have sufficient savings to cover yea...

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...rs 2 & 3 and years 4 & 5, the money is there for your use .... it will just have to be replenished prior to proof of income to raise annual average balance to meet required income.

Healthcare ... I honestly don’t know, as I was quoting Dave777’s research there - it depends so much on your personal circumstances.  The only thing you can do is get quotes to try figure out your own personal situation - try Santander Bank, who offer health insurance, and also Maxine Morgan at Liberty Seguros