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Am I eligible?

Posted: Thu Feb 11, 2021 5:21pm
2 replies289 views3 members subscribed
petero363

Posts: 1

Location: Camposol

Joined: 7 Feb 2021

We are pensioners hoping to move to Spain, but upon reading the eligibility criteria I am doubtful we would qualify. We will have enough money to purchase a home, have money left in the bank and have our state pensions and a separate small pension. However, the pensions only amount to 15,000 pounds per annum, far short of the amounts I have seen on various websites. Can I hold out any hope or is it a complete no-no?

Any advice gratefully accepted.

Will60

Posted: Thu Feb 11, 2021 6:13pm

Will60

Helpful member

Posts: 317

315 helpful points

Joined: 10 Feb 2020

Posted: Thu Feb 11, 2021 6:13pm

Here is an informative recent post.

Useful webinar / video for those planning to relocate post Brexit

RichT

Posted: Thu Feb 11, 2021 7:58pm

RichT

Super helpful member

Posts: 1143

1271 helpful points

Location: Lorca

Joined: 13 Sep 2019

Posted: Thu Feb 11, 2021 7:58pm

Unfortunately, under the new post-Brexit criteria, where UK citizens are treated like those from any other country outside the EU, then it would appear to be unlikely, as the requirement for an income of approx. €33,000pa equates to approx. £29,000 at current exchange rates.

There has been some discussions around people being able to present their pensions in such a way that they could appear to have that level of income - which may be possible with a drawdown pension, or similar.

This does seem unfair, as if you own your home with no mortgage then you can live quite comfortably on considerably less income than the €33k - whereas a couple who have an income of that amount could have a mortgage or rent to pay that leaves them with a lot less disposable income.

I woul suggest seeking advice from one of the many companies who appear to be offering services to help people get residency, so don't give up hope!

Also, and in just my personal opinion, Spain may decide in the short / medium term future to set up separate agreements with the UK and possibly other countries to change those requirements, as you would hope they realise how much ex-pats bring to the Spanish economy in day to day spending and also the associated property purchase tax, IVA, council tax, etc...

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