Can I retire in Spain after Brexit?
Yes, you can. Spain is one of the favorite vacation spots of the British for a getaway in the sun located just a few hours away by plane. British holidaymakers have long been flocking to the sun-drenched coasts since holiday packages began to appear in 1957.
Before Brexit, Britons enjoyed forty-eight years of freedom of movement and residency rights in the EU. Since the United Kingdom’s exit from the European Union on January 1, 2021, those rights have changed. In this article, we delve into the most frequently asked questions about retirement and moving to Spain after Brexit.
Will I be able to retire in Spain after Brexit?
Definitely yes. You will be among the thousands of non-EU citizens who have retired in Spain long before Brexit existed. There are 195 countries in the world – of which – only 27 countries are members of the EU. That means if you’re thinking about retiring in Spain and you’re a UK citizen, you’ll follow the same procedures as most of the other 168 countries.
How long can you live in Spain without residence after Brexit?
There are several ways to obtain residency in Spain:
Temporary residence permit
If you want to stay in Spain for the long term, this is the visa you need to apply for first. The reason: temporary residence is a prerequisite to permanent residence. That is, you will have to apply for your temporary residence in order to be eligible for permanent residence.
Your temporary residence permit gives you the right to live and work legally in Spain for one (or two) years. Before it expires, if you still meet the initial requirements, you can renew your temporary residence visa for an additional year (or two). After five years living permanently in Spain, you will be able to apply for your permanent residence.
Permanent residence
This visa allows you to live and work in Spain indefinitely and is your gateway to Spanish citizenship. Due to the trajectory of 5 years of permanent life in Spain (through your temporary residence permit), the process is relatively easy with little paperwork apart from your passport, valid temporary residence permit, and the completion of the permanent residence form and fee.
There are many ways to obtain permanent residency. You can read all about the different types of permanent residence options on the Residence Permit in Spain page.
I am British, do I need a visa to travel to Spain?
No. In compliance with EU Regulation 2018/1806 of the European Parliament and of the Council of 14 November 2018, British passport holders travelling to Schengen countries for holidays, business or to visit family do not need a visa for stays of up to 90 days in 180 days, provided that the visit is not for profit. Please note that the 90 days will start counting from the date of entry into any of the Schengen countries, including Spain.
Please note that all travellers from the UK to Spain (including children of all ages) must fill out a health check form (FCS).
Can I move to Spain permanently after Brexit?
Absolutely yes. Your optimal immigration path for a permanent life in Spain will vary depending on your unique situation.
If you have never been to Spain, you can enter with the 3-month tourist visa that British citizens receive upon arrival. This visa is granted at the airport. It is just a stamp in your passport that shows your date of entry and the name of the airport.
If you are like the tens of thousands of happy British residents who love Spain, you can apply for your residence permit during your 3-month tourist visa (depending on the route you choose).
Note: Not all visa options allow you to apply while in Spain. Be sure to check in advance.
There are 15 different ways to obtain a residence visa in Spain:
- Internship
- Student
- Non-profit residence
- Highly qualified professional
- Investors and entrepreneurs
- EU and national researcher
- Employment
- Employment on a fixed-term contract
- Exemption from work permit
- Transfer within the company
- Working within the framework of transnational service provision
- That
- RSA
- Self-employment
- Family reunification according to general regulations
If you apply for family reunification outside of Spain, please contact the Spanish consulate in your home country.
How much money do you need to retire in Spain from the UK?
The Spanish government uses an economic indicator called “IPREM” to define the number of sufficient funds you need to live comfortably in Spain (and qualify for residency).
In 2021, the value of the IPREM is set at 400% of the funds available in your bank account (required every year). Currently, 400% of the IPREM is 2,260 euros per month in income (or 27,120 euros in savings).
In general, you will have to prove a monthly income of at least 2,260 euros. In addition, you will have to prove that you earn 533 euros more per month for each dependent in your Spain retirement visa application. Alternatively, showing 27,120 euros in savings for each annual renewal period will be enough money to retire in Spain.
Are you thinking of buying a property in Spain?
Benefit from your no-obligation consultation on the purchase of real estate in Spain, where our friendly team of professionals will be happy to help you. You can in call us on 69 16 67 25, e mail us on alfonso@accountingnetworksl.com or visit our offices at Estepona, Málaga at any time to find out more about how to retire in Spain with post-Brexit rules.
