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How much cash do I need in the bank to live in Mojacar

Posted: Wed Aug 18, 2021 4:04pm
25 replies1554 views8 members subscribed
Janis

Posts: 18

2 helpful points

Location: Mojacar

Joined: 10 Feb 2021

Hello I hope to move to Mojacar permanently and whilst I have a British state pension I will not have the required€27,000 ( I think that’s the amount)per year coming in. However I will have a substantial capital amount and wonder if anyone knows what the minimum amount would be to be allowed to live in Mojacar permanently please?

DarioMartin

Posted: Wed Aug 18, 2021 9:58pm

DarioMartin

Legendary helpful member

Posts: 5342

6309 helpful points

Location: Vera

Joined: 16 Aug 2017

Posted: Wed Aug 18, 2021 9:58pm

Well, as stated you need the 27.000€ per year available every year for five years to get residency, but I’m guessing you’re talking about living expenses.

OK, Mojácar - rent will run anywhere between 350€ - 450€ per month depending on what you want; electricity, depending on company and usage about 50€ - 70€ per month; internet - I pay 30€ per month for a 1 GB/s connection.  We live (now) in Vera Playa and two people can live comfortably on 1000€ per month, including rent, electricity etc

Doris

Posted: Wed Aug 18, 2021 10:51pm

Doris

Helpful member

Posts: 321

320 helpful points

Location: Vera

Joined: 27 Feb 2020

Posted: Wed Aug 18, 2021 10:51pm

Janis wrote on Wed Aug 18, 2021 4:04pm:

Hello I hope to move to Mojacar permanently and whilst I have a British state pension I will not have the required€27,000 ( I think that’s the amount)per year coming in. However I will have a substantial capital amount and wonder if anyone knows what the minimum amount would be to be allowed ...

...to live in Mojacar permanently please?

I don’t know about that sort of capital. But if as you say, it’s substantial (over 135k?) Surely it wouldn’t be to difficult to set up some sort of agreement with a financial authority to pay you 25k year with proof to the necessary people in Spain. Seems easy to me but this is Spain. I’m sure someone will tell me if I’m wrong. 

Janis

Posted: Wed Aug 18, 2021 11:08pm

Janis

Original Poster

Posts: 18

2 helpful points

Location: Mojacar

Joined: 10 Feb 2021

Posted: Wed Aug 18, 2021 11:08pm

Doris wrote on Wed Aug 18, 2021 10:51pm:

I don’t know about that sort of capital. But if as you say, it’s substantial (over 135k?) Surely it wouldn’t be to difficult to set up some sort of agreement with a financial authority to pay you 25k year with proof to the necessary people in Spain. Seems easy to me but this is Spain. I’m...

... sure someone will tell me if I’m wrong. 

Thankyou very much Doris I appreciate your help!.

Janis

Posted: Wed Aug 18, 2021 11:12pm

Janis

Original Poster

Posts: 18

2 helpful points

Location: Mojacar

Joined: 10 Feb 2021

Posted: Wed Aug 18, 2021 11:12pm

DarioMartin wrote on Wed Aug 18, 2021 9:58pm:

Well, as stated you need the 27.000€ per year available every year for five years to get residency, but I’m guessing you’re talking about living expenses.

OK, Mojácar - rent will run anywhere between 350€ - 450€ per month depending on what you want; electricity, depending on company and usage about 50€ - 70€ per month; internet - I pay 30€ per month for a 1 GB/s connection.  We live (now) in Vera Playa and two people can live comfor...

...tably on 1000€ per month, including rent, electricity etc

Thank you so much Dario, your info is very useful about €27,000 for 5 years would perhaps be a base line-& ur info about living expenses is v useful too, I really appreciate your help, thank you!

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Doris

Posted: Thu Aug 19, 2021 10:31am

Doris

Helpful member

Posts: 321

320 helpful points

Location: Vera

Joined: 27 Feb 2020

Posted: Thu Aug 19, 2021 10:31am

Janis wrote on Wed Aug 18, 2021 11:08pm:

Thankyou very much Doris I appreciate your help!.

Sorry, I meant €27k per year. 

Joan49

Posted: Thu Aug 19, 2021 2:12pm

Posts: 85

40 helpful points

Location: Mojacar

Joined: 27 Jul 2021

Posted: Thu Aug 19, 2021 2:12pm

DarioMartin wrote on Wed Aug 18, 2021 9:58pm:

Well, as stated you need the 27.000€ per year available every year for five years to get residency, but I’m guessing you’re talking about living expenses.

OK, Mojácar - rent will run anywhere between 350€ - 450€ per month depending on what you want; electricity, depending on company and usage about 50€ - 70€ per month; internet - I pay 30€ per month for a 1 GB/s connection.  We live (now) in Vera Playa and two people can live comfor...

...tably on 1000€ per month, including rent, electricity etc

I am about to  engage a spanish solicitor to do this for me. She told me I have to have savings of roughly €29,000 and private medical but not english private but spanish. Hope this is true. 

DarioMartin

Posted: Thu Aug 19, 2021 3:42pm

DarioMartin

Legendary helpful member

Posts: 5342

6309 helpful points

Location: Vera

Joined: 16 Aug 2017

Posted: Thu Aug 19, 2021 3:42pm

Joan49 wrote on Thu Aug 19, 2021 2:12pm:

I am about to  engage a spanish solicitor to do this for me. She told me I have to have savings of roughly €29,000 and private medical but not english private but spanish. Hope this is true. 

Yep, that is true.  Health Insurance has to be through a Spanish company that is residency compliant

Janis

Posted: Thu Aug 19, 2021 4:15pm

Janis

Original Poster

Posts: 18

2 helpful points

Location: Mojacar

Joined: 10 Feb 2021

Posted: Thu Aug 19, 2021 4:15pm

DarioMartin wrote on Thu Aug 19, 2021 3:42pm:

Yep, that is true.  Health Insurance has to be through a Spanish company that is residency compliant

Thank you so much for your help, I really appreciate it!😊

Janis

Posted: Thu Aug 19, 2021 4:21pm

Janis

Original Poster

Posts: 18

2 helpful points

Location: Mojacar

Joined: 10 Feb 2021

Posted: Thu Aug 19, 2021 4:21pm

Doris wrote on Wed Aug 18, 2021 10:51pm:

I don’t know about that sort of capital. But if as you say, it’s substantial (over 135k?) Surely it wouldn’t be to difficult to set up some sort of agreement with a financial authority to pay you 25k year with proof to the necessary people in Spain. Seems easy to me but this is Spain. I’m...

... sure someone will tell me if I’m wrong. 

Thank you very much Doris😊

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