What's your take on the update to "Residency requirements"

[Muddy]

I would appreciate and very much like to know what the woman and man on the street thinks to the just updated residency requirements in relation to my situation if possible? (any comments welcome of course)
I did plan on taking a year out you could call it! Study Spanish hard so I give it my almost full attention. Setup a business in a year or so part time!! Although part time self employed in Spain looks problematic to me I'll leave that aside for the minute.

So looking at these recent changes where do I stand if I go ahead and buy a property which was my intention before these changes were announced.
I know the wise thing to do is rent and wait for property prices to drop, but I think I've found something I really like so if I can get a big-ish discount I might go for it and against what most would advise here on that perhaps!

Reading quickly through the changes this morning it seems a bit woolly IMO. That might not be a bad thing in some situations!

So I'll not be working for year 1 and possibly 18 months.
I'll either have my UK house sale cash in the bank and renting.
Or have assets in the form of a house in Spain and of course less cash in the bank!

Would I be welcomed with open arms by the rubber stamping brigade , or after going through all the hassle of selling up and moving to Spain only then to be told, sorry assets are not big enough or bank balance isn't fat enough?

A know this has been posted up already but links for convenience below;
Entry & residence requirements
Residency requirements - for information only

Thanx in advance for your thoughts...

[xabiachica]

Originally Posted by Muddy

I would appreciate and very much like to know what the woman and man on the street thinks to the just updated residency requirements in relation to my situation if possible? (any comments welcome of course)
I did plan on taking a year out you could call it! Study Spanish hard so I give it my almost full attention. Setup a business in a year or so part time!! Although part time self employed in Spain looks problematic to me I'll leave that aside for the minute.

So looking at these recent changes where do I stand if I go ahead and buy a property which was my intention before these changes were announced.
I know the wise thing to do is rent and wait for property prices to drop, but I think I've found something I really like so if I can get a big-ish discount I might go for it and against what most would advise here on that perhaps!

Reading quickly through the changes this morning it seems a bit woolly IMO. That might not be a bad thing in some situations!

So I'll not be working for year 1 and possibly 18 months.
I'll either have my UK house sale cash in the bank and renting.
Or have assets in the form of a house in Spain and of course less cash in the bank!

Would I be welcomed with open arms by the rubber stamping brigade , or after going through all the hassle of selling up and moving to Spain only then to be told, sorry assets are not big enough or bank balance isn't fat enough?

A know this has been posted up already but links for convenience below;
Entry & residence requirements
Residency requirements - for information only

Thanx in advance for your thoughts...

the way I understand it, ownership of property is certainly helpful, but it doesn't matter where it is - although it's having & being able to show, a regular income, that counts more, along with healthcare provision

the required level of income would seem to be that above which a spanish resident gets no govt. assistance - which atm is about 345€ per person per month..............

[jojo]

I just hope that Spains property agents are passing this info on. There are still people out there who are selling up "lock, stock and barrel" in the UK and buyin a property in Spain to live in full time, hoping/assuming they'll get work. What happens once the sale is completed and they all arrive with their kids, dogs, possessions and then find they're not allowed to become residents because they havent got proof of a regular income ????? Agents in Spain are having enough problems without feeling obliged to mention this???????

Jo xxx

[Alcalaina]

Remember that the political aim of the change is to control immigration from poorer parts of the EU. They are the ones who are likely to be a "drain on Spain's resources". It isn't intended to keep out people who will bring wealth into the country. It's not a case of trying to keep the numbers down, because Spain's population is falling (the birth rate is below the sustainability level).

I could be wrong but I can't see anyone with a healthy bank account intending to buy property being refused entry.

[xabiachica]

Originally Posted by Alcalaina

Remember that the political aim of the change is to control immigration from poorer parts of the EU. They are the ones who are likely to be a "drain on Spain's resources". It isn't intended to keep out people who will bring wealth into the country. It's not a case of trying to keep the numbers down, because Spain's population is falling (the birth rate is below the sustainability level).

I could be wrong but I can't see anyone with a healthy bank account intending to buy property being refused entry.

neither do I - but let's face it, there are plenty who come/want to come from the UK with nothing more than a pocketful of 'I'll do anything for work' & 3 kids

you know as well as I do that very often they don't have more than a few 1000€ (if that ) - & that wouldn't last long

[NickZ]

Originally Posted by xabiachica

the way I understand it, ownership of property is certainly helpful, but it doesn't matter where it is -

I'd assume having a home in Spain would be a positive. It means you need less income to pay for shelter. The only way way I could see an out of country home helping is if it's rented.

I actually think the EU rules this is all based on allow the country to take into account having a place to stay. Don't the Spanish rules require having a place to stay?

[NickZ]

Originally Posted by Alcalaina

Remember that the political aim of the change is to control immigration from poorer parts of the EU. They are the ones who are likely to be a "drain on Spain's resources". It isn't intended to keep out people who will bring wealth into the country. It's not a case of trying to keep the numbers down, because Spain's population is falling (the birth rate is below the sustainability level).

I could be wrong but I can't see anyone with a healthy bank account intending to buy property being refused entry.

From my understanding of the rules the EU set out it doesn't take a very healthy account. IIRC the rules don't allow the countries to require very much income/cash. The amount is just above the threshold for receiving local aid.

[jojo]

Originally Posted by NickZ

From my understanding of the rules the EU set out it doesn't take a very healthy account. IIRC the rules don't allow the countries to require very much income/cash. The amount is just above the threshold for receiving local aid.

But it IS above the threshold. Local aid isnt available anyway to foreigners until they've paid into the system for a significant amount of time

Jo xxx

[xabiachica]

Originally Posted by NickZ

I'd assume having a home in Spain would be a positive. It means you need less income to pay for shelter. The only way way I could see an out of country home helping is if it's rented.

I actually think the EU rules this is all based on allow the country to take into account having a place to stay. Don't the Spanish rules require having a place to stay?

it certainly wouldn't be a negative

the blurb does say property deeds are one way of proving assets - & of course you need an address - but it doesn't seem to matter if it's rented or owned

I would guess Spain would rather the (owned) property is in Spain - then they can easily embargo it (is that the right word ) if you find yourself penniless & ask for help from the govt. (actually I'm not sure they wouldn't be able to do the same to a property elsewhere)

or am I being overly cynical...........

[NickZ]

Originally Posted by jojo

But it IS above the threshold. Local aid isnt available anyway to foreigners until they've paid into the system for a significant amount of time

Jo xxx

EU – Residence rights when working in another EU country - Your Europe********

That's the EU general info

National authorities cannot require your income to be above the level that would qualify you for basic income support.

So that limits how much they can ask for

If you have to register, you may be fined for not doing so but may continue to live in the country and cannot be expelled just for this.

So if you don't register the worst thing they can do is fine you.