I would like to know how things have changed for me and my husband to retire with a UK pension too Spain. We have a property in Palomares and would like to retire there in a couple of years.
Research on Third Country National income requirements, assuming you have British passports.
are you talking the basic State pension or a private pension as well? the amount of finance required now for settlement in Spain from the UK is much higher than the State pension alone.
Alicia 11 wrote on Wed Apr 21, 2021 6:05pm:
are you talking the basic State pension or a private pension as well? the amount of finance required now for settlement in Spain from the UK is much higher than the State pension alone.
Yes the new State pension, but we also have savings.
Stephanie wrote on Wed Apr 21, 2021 6:22pm:
Yes the new State pension, but we also have savings.
it is not about savings it is about yearly income now. the new state pension will probably not be enough to satisfy what is necessary for a couple you will need to check it.
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Stephanie wrote on Wed Apr 21, 2021 6:22pm:
Yes the new State pension, but we also have savings.
I heard they take your pension and property value into consideration and if you have the €32,000 savings avail to leave sitting in the bank year after year they accept that.
Posted: Fri Apr 23, 2021 7:42am
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L181SKY wrote on Fri Apr 23, 2021 12:28am:
I heard they take your pension and property value into consideration and if you have the €32,000 savings avail to leave sitting in the bank year after year they accept that.
I don't believe they take the value of your house into consideration but 34000 in the bank is enough for the first year application. You reapply at the end of year one for the next 2 years but as it is a 2 year period you need 68000 in the bank or income. Then same again at start of year 4 After 5 years you can apply for permanent residency. Assuming you have S1s you won't need private health care.
Juliet Diaz wrote on Fri Apr 23, 2021 7:42am:
I don't believe they take the value of your house into consideration but 34000 in the bank is enough for the first year application. You reapply at the end of year one for the next 2 years but as it is a 2 year period you need 68000 in the bank or income. Then same again at start of year 4 After ...
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...5 years you can apply for permanent residency. Assuming you have S1s you won't need private health care.
I believe they do . also, I believe it all depends where you are in Spain. Yes €64,000 for the two years 2 and 3, and same again but S1 no good unless you were there before 31st Dec. you need private till year 5. then in the Spanish system
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Yes I agree idiots voting to leave. But now I have to deal with what is. Thank you for your reply I will look at the website.
We already have a property in Palomares, so its just sorting out how to get to live there.
All the info you require is on the uk government website we have look in to this and found this is the best place. Don't forget thay tax you more in Spain on all you're world income which is why we decided to stay in UK. We'll rent and just stay as and when. Best of luck hope it works out for you..
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