Basic questions 1 EARNINGS

[tomtit]

I joined the forum for some advice on property etc but I'm already realising that there is much to learn!!
I read on another thread that proof of income would be required when moving to Spain. So. . .

1. Is there a minimum income level that is set and if so what is it?

2. Who do you have to provide evidence to and in what format?.

3. If I buy spanish property without disclosing this, what would be the consequenses ?

4. As my income is mainly pension and therefore not likely to rise, how often will it be checked and again. . .by whom and how?

sorry about the asks and thanx in advance

[xabiachica]

Originally Posted by tomtit

I joined the forum for some advice on property etc but I'm already realising that there is much to learn!!
I read on another thread that proof of income would be required when moving to Spain. So. . .

1. Is there a minimum income level that is set and if so what is it?

2. Who do you have to provide evidence to and in what format?.

3. If I buy spanish property without disclosing this, what would be the consequenses ?

4. As my income is mainly pension and therefore not likely to rise, how often will it be checked and again. . .by whom and how?

sorry about the asks and thanx in advance

the answer to all of those is that we don't know yet................

keep an eye on the link to UKinSpain on the sticky post about this

an income of +/-430€ a month per person has been mooted - & a friend who runs a legal firm here got resident certs in the past week or so for clients by showing bank statements & S1 forms


I don't really understand your #3.........

[tomtit]

sorry. . . .question 3, suppose I have the funds to buy a house?. Then someone says 'show me your income' and it doesn't meet the required level. . .do I get booted out and the house confiscated or burnt at the stake or even worse

[xabiachica]

Originally Posted by tomtit

sorry. . . .question 3, suppose I have the funds to buy a house?. Then someone says 'show me your income' and it doesn't meet the required level. . .do I get booted out and the house confiscated or burnt at the stake or even worse

if you can afford to buy a house.............. then you can buy a house


you wouldn't have to be resident to do that anyway

[tomtit]

PS. I already have a pension of £13k pa which will rise by a further £6k in 2 years. . .but will not rise much further. This would be for 2 people as my partner is not gauranteed to find an income and is not due to recieve a pension for a long time.
There is also a very real possibility that my son will ask me to do some pricing for his contracting business. . .which I do at present and which would probably generate a further £5k pa.
I thought it easier to provide figures as I am unknown to anyone and it can be assessed more factually.
cheers again

[xabiachica]

Originally Posted by tomtit

PS. I already have a pension of £13k pa which will rise by a further £6k in 2 years. . .but will not rise much further. This would be for 2 people as my partner is not gauranteed to find an income and is not due to recieve a pension for a long time.
There is also a very real possibility that my son will ask me to do some pricing for his contracting business. . .which I do at present and which would probably generate a further £5k pa.
I thought it easier to provide figures as I am unknown to anyone and it can be assessed more factually.
cheers again

well....... as I said, no one really knows yet exactly what is required

but if the expected 430 pp pm is about right then you should be OK

[Solwriter]

Originally Posted by tomtit

PS. I already have a pension of £13k pa which will rise by a further £6k in 2 years. . .but will not rise much further. This would be for 2 people as my partner is not gauranteed to find an income and is not due to recieve a pension for a long time.
There is also a very real possibility that my son will ask me to do some pricing for his contracting business. . .which I do at present and which would probably generate a further £5k pa.
I thought it easier to provide figures as I am unknown to anyone and it can be assessed more factually.
cheers again

As xabiachica said, no one knows for sure at the moment, but it does look like your present income would be considered enough to sustain you and your wife - as long as you get S1s sorted out to bring with you.

As to the probability that you will earn more money working for your son...
I would leave this until you know for sure you will be getting this.
By that time, you should be here and have had the time to sort out an accountant or gestor who can help you deal with the tax implications of this.

Do you get the UK state pension by the way?
If so, this opens up another area of debate as regards earnings.
It would be considered unusual for a pensioner to set up also as autonomo (and wouldn't be worth it for 5k per annum), and many accountants would advise against this in any case. So your son would have to pay you as an employee.
But (hopefully!) an accountant would work that out for you and him when the time comes.

[tomtit]

cheers for the help, very kind.
So I can buy a house and live there as long as I pay my way?
And I would only need to show proof of income if I wish to REGISTER for some spanish benefits? if not I won't need to prove anything but just be a model citizen
SOLWRITER
At the mo I took early company pension so don't get the state pension for another 2 years.
Part of the idea of the small extra income could be the uk benefits. Ie if I set up a small company . . .in the UK. . .say 'dads pricing sevice ltd.co.uk' or whatever, I would be able to offset some of these earnings with say an anual flight back to the uk and internet costs as part of my expenditure against income.

[xabiachica]

Originally Posted by tomtit

cheers for the help, very kind.
So I can buy a house and live there as long as I pay my way?
And I would only need to show proof of income if I wish to REGISTER for some spanish benefits? if not I won't need to prove anything but just be a model citizen
SOLWRITER
At the mo I took early company pension so don't get the state pension for another 2 years.
Part of the idea of the small extra income could be the uk benefits. Ie if I set up a small company . . .in the UK. . .say 'dads pricing sevice ltd.co.uk' or whatever, I would be able to offset some of these earnings with say an anual flight back to the uk and internet costs as part of my expenditure against income.

yes, basically - you can live here if you can pay your way

if you've been paying NI in the UK you will likely be able to access the Spanish health service by using an S1 from the UK - the UK then pays Spain for the service....... that is for up to 2 years so could well last you until you get your state pension

you do need to register as resident to get that though - & you should in any case after 90 days - it's required by the Spanish govt under EU rules

there aren't any Spanish benefits though............


I actually think it might complicate matters if you set up a UK company like that ..... not sure what UK benefits you mean either

[tomtit]

well . . .one benfit may be a company health insurance. . bupa or the like. They give good rates to employees and could cover me while I am abroad. I need to look into it. . . but again, best regards for your help