minimum savings to stay in Spain

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05 Jun 2015 14:58 by axti101 Star rating. 24 posts Send private message

I have no job. I'm going to rent an apt.for 12 months in Andulicia, Spain. -What is the minimum savings you need in order to stay for 12months? Anyone have a link showing this? -Can I send my 10 year old son to school and can I stay for 12 months if I prove I have sufficient savings. -NIE...... Is it Ex15 or Ex18 Many Thanks



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05 Jun 2015 15:25 by Team GB Star rating. 1245 posts Send private message

Team GB´s avatar

No official minimum figure has been published, but you need to demonstrate you have enough to support you and your family. Unofficial sources have quoted a figure of 6000 ish per year or be able to show 6000 in a bank account, not sure if this is EUR or GBP. You will also need to have Health Insurance for all your family, you won't get state health care but should be able to send your son to state school if you have a official rental contract and go on the electrol role

By staying for 12 months and intending to stay for 12 months you will become a Spanish resident and therefore need to fill up the EX18 form for the EU citizens register rather than the EX15 which only gives you a NIE number 



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05 Jun 2015 15:53 by Hephaestus Star rating in The Peak District Na.... 1237 posts Send private message

Surely even asking this question implies that the OP is not sure that they are in a financially viable position to move to Spain, particularly with no job and a 10 year old child to support. But having said that if the OP is confident that they have sufficient funds to house and feed the two of them short term, who am I to be holier than thou?

Many a person has taken a step onto uncertain ground and come out unscathed, I can't answer any of the questions, but unreservedly wish the OP good fortune. yes    



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05 Jun 2015 17:51 by windtalker Star rating. 1665 posts Send private message

it would cost you roughly the same in Spain to live as it would for twelve month's in the UK + the cost of a private health insurance .



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05 Jun 2015 18:10 by axti101 Star rating. 24 posts Send private message

Ok....We'd heard somewhere that you needed 30k euros, but it seems logical what you've said. Proof of savings plus health care. Enough savings for 12 months living @ 1,000 euro per month=12k, I would expect to suffice then. Still unsure the difference between ex15 or ex18 but will do some research on this. Many Thanks for input.



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05 Jun 2015 18:37 by Team GB Star rating. 1245 posts Send private message

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Here is a official link from the government showing the ex18 form in English (not valid as an application)

The ex15 form is what non residents would use (holiday home owners etc) who need to make financial transactions in Spain but are not here for more than 183 days a year

 


This message was last edited by Team GB on 05/06/2015.

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05 Jun 2015 18:51 by mariedav Star rating in Ciudad Quesada. 1062 posts Send private message

As Team GB said, no official figure but you may have to prove you can support yourself and your family plus have private or public funded (from your home country) healthcare. Even having a large enough (more than £6000) credit card limit is sufficient to prove you have access to sufficient funds. Healthcare would be the problem as only those under 18, over pensionable age or registered disabled get that. There wouldn't be that many people settling here if the required savings was 30k. (My husband speaks Spanish and has accompanied several neighbours to get residency. Whilst they have had to show proof of healthcare, none have been asked for proof of income but they do own property here).

Schools are all in Spanish so if you think a 10 year old could absorb Spanish in his first year it would work though I would think very carefully about that. You also have to pay for school books etc.

EX15 is the application for an NIE number and you would have to apply to go on the foreign national (commonly called residencia) within 3 months. EX18 gets NIE and residency or non-residency certificates.

I would think very carefully about this especially for the impact on your child's schooling. Most British kids are put into a lower class to catch up with the Spanish system and language.

 

 

 





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05 Jun 2015 19:59 by camposol Star rating in Camposol. 1411 posts Send private message

Axti 101

the amount is 600 euros  per month income and/ or 6000 each adult in a Spanish bank

you will be tax resident in Spain and pay tax on all your income wherever it comes from, including savings interest even on UK tax free isas.

you will have to prove you have private Spanish health cover until you are legally employed with a contract, or if not for 1 year till you can pay 60 euros per month each adult into the Spanish NHS

if you have existing medical conditions, private insurers won't cover them.

when you are under the Spanish NHS all conditions will be covered,

You will pay for prescriptions  

 

 

 


This message was last edited by camposol on 05/06/2015.



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05 Jun 2015 20:43 by mariedav Star rating in Ciudad Quesada. 1062 posts Send private message

Suggested amount. EU rules state the country cannot set a limit but it is a suggested amount.

And 6,000 each in a Spanish bank? Where did that come from?  I've lived here years and wouldn't keep 12 grand in a Spanish bank. It's access to funds so you could have an account or a credit balance anywhere.

Mind you, an income of 600 euro a month would be quite difficult, if not impossible, to exist on here. I know it's cheap but not that cheap. Alright if you've got family to live with and no rent or bills to pay, I suppose.

 

 

 

 

 


This message was last edited by mariedav on 05/06/2015.



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05 Jun 2015 22:25 by axti101 Star rating. 24 posts Send private message

The credit card scenario sounds good. It makes sense to use credit rather than cash. Like you say, cash in bank is taxed. Credit is not income and therefore not liable to tax. I think? Anyway my other half will live and work in England only visiting us in Spain 2 weeks out of 5. So he will not be resident and just visit as a tourist. I would imagine he can spend his money as he wishes as a "tourist" without any Spanish Tax implications.(As he's already paid tax on his UK Income as a UK resident).



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