Hi All , Hoping to Buy On Camposol to retire - Page 11

dont normally agree with F/F but you cant live on 100e a week, 150e at a push, you need a car too, unless you want to spend your days on camposol, and some do , seen them do it, living day to day watching the pennies , a few beers at weekend trying their best not to get carried away and spend more than they should have, and its easy to fall into the drinking scene as you cant  spend all day in the sun, and its normally single guys that have bought 60k houses, in walking distance to cats, but a normal retired cpl should be budgeting for at least the whole proceeds of there pension  @ ￡160 ish each week, then any savings they make will tide them for any unforeseen circumstances that rarely gets mentioned, and early retirees  should budget the same . so the person with 60k , should have at least 15 to 20k  left, 

obviously everyone is different, but when you first move over you will want to explore the area, eating out etc meeting ppl,  few drinks as u do, that adds to the costs , but im sure the average pesron would get by on 1000e a month easily. 

as for the 15k per cpl residency,  F/F is correct, and that increases to 25k per person, after dec 2020 , but buying a property does help, but if your paying in 600 per month with the bank each month to avoid charges that would also help, also watch out for capital gains tax when selling this year in uk and applying for residency , as long as you invest the profit in a spanish property then you can avoid tax , 

the person with ￡60k reduce this to 43k ish  or you will pay spanish tax onnit when resident ,or split it with spouse..ouch 

Hi,

I think it is taxable if you are a resident when British property is sold.

If you sell in the UK then take up residency later, no tax is payable, as you were nothing to do with the tax system, but only have to pay non residents tax.

Stand corrected if I am wrong, but it worked for us.

Love the cars 👍

Hi, 

Have I read that correctly, residency is going up from Eu15K per cpupole to Eu25K EACH!!! I can cope with 25K per couple, but that seems excessive.

If it's correct I guess that'll be Brexit related then....

TimBob

Try and get a different passport. 

Very unpatriotic suggestion for ex-pats :) 

Apparently after January 2021 to become a resident of Spain ..you need €30,000 for a single person or €32,000 per couple in the bank 3 months before you apply ...your UK  pension on its own will no longer qualifi you to become a Resident of Spain...you can still apply if you only have a state pension ...but  you need the amount above in your account before acceptance both OAPs and early retiring will need a private health care policy your EHIC will  no longer be accepted anywhere in the EU... Don't quote me on any of this as l got this information off another forum .

Thank you for the info, that seems much more reasonable. 

Hi, Are you sure,

as this would place a great percentage of people unable to come to Spain, or make them change there minds.

Spain will lose out on a massive scale when they will need expats badly to prop up the economy which will go through a down turn.

Private medical insurance is needed, and the EHIC cards will stop, and you cannot get residency now  with EHIC cards, you have to have private medical insurance. 

This is what I have read on other forums ...the UK will no longer be part of the EU from January 2021 any none EU person that wants to live in Spain after January 2021 will need to meet the requirements if they want to become a Spanish Resident ...I have also read that the present Brit's that have become Spanish Residents will  carry on receiving the benefits from the UK after January 2021..any UK Resident OAP that wants to move to Spain after January 2021 will still receive the government pension but the will not receive any UK government support towards the private health care that they will require to live in Spain..the present OAPs on the likes of Camposol are most likely going to be the last one's for the foreseeable future.