Post Brexit Requirements for UK Nationals Moving to Spain

Post Brexit Requirements for UK Nationals Moving to Spain

Post Brexit Requirements for UK Nationals Moving to Spain

The other day one of my British clients asked me, now that the UK has left the EU, can they still move to Spain. The basic answer is yes, but it’s not as easy as it used to be. The information I gave them might be of interest to you, so here in a nutshell are the Post Brexit Requirements for UK Nationals Moving to Spain.

Even though there are 7 long stay visa options, only two of them are of any real interest if you’re thinking of retiring to Spain. If you’re planning on coming to work or study in Spain, then click here for more information. Of course I must stress that this is the situation at the time of writing, so in February 2021, and things may well change in the future.

If you’re looking to come to Spain to retire, the first long stay visa which might suit you is the Golden Visa. If you’ve looked into visas before, then you’ve probably heard of it and I also wrote a post about it a while back, if you want to read it, click here. 

However if you don’t want to bother, I’ll give you the basics, the easiest way to get the Golden Visa is to invest a minimum of 500,000€ in Spanish property and then supply proof that you, as the main applicant have 13,440€ a year coming into your bank plus 6,720€ per annum for any dependants e.g. husband/wife/children that you may bring with you.

The Golden Visa which you receive at the Embassy will be valid for one year. During this year, you have to enter Spain and exchange your visa for a Spanish residence permit, which will be valid for two years.

The residence permit can then be renewed indefinitely, without any stay requirements, as long as you maintain your investment.

The other visa which might be of interest to you if you is the Non Lucrative Visa. The advantage of this particular model, is that you don’t have to invest a half a million euros in property or make any other large investments for that matter, but there is a catch, as always. The snag is, that to qualify for the non-lucrative visa your yearly income, as the main applicant, must be 400% more than the IPREM rate, (If you’re not sure what the IPREM is, according to Mutua Universal the IPREM is the Multiplier for the Public Income Index. This is an index used in Spain as a reference for the granting of economic aids, grants, allowances or unemployment benefit.) In 2021 the IPREM rate is just under 560€ per month, so 4 times that comes to 2,240€ per month and a yearly income of 26,880€. If you are bringing your wife or husband with you, then you will need to add a further 6,720€ per year to this sum, bringing it to 33,600€ per year. Should you have any other family members that you would like to bring, then you will need to have a further 6,720€ per year for each of them.

These are the financial requirements you’ll need to fulfil and apart from these you will also need private health insurance and no criminal record. If granted, the visa allows you to say in Spain for one year and to renew and you must spend a minimum of 183 days in the country, which means that you’ll become a tax resident.  Afterwards the visa can be renewed every 2 years until you get permanent residency, which is available after you’ve been in the country for 5 years.

Obviously these are the basic Post Brexit Requirements for UK Nationals Moving to Spain and as usual, in such situations this information is only to be used as a guide and I strongly urge you to get independent legal advice before making any commitments.

Post Brexit Requirements for UK Nationals Moving to Spain

Before I go, if you’d like to know more about me and the services I can offer you then click here.

If there’s anything you’d like me to add or change then just leave a comment in the box below.

Cheers and ’till the next time,

JP

Make Contact