20 Oct, 2022 @ 12:08
3 mins read

British pensioners move to live in Spain

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Spain’s attractions for the British

It is no secret that Spain is a destination that many people choose both as a holiday destination and as a place to live (either permanently or temporarily). Spain is the country with the second highest number of UNESCO World Heritage Cities in the world. From its marvelous beaches to its natural parks (most of which have been declared Biosphere Reserves), they are highly attractive to visitors. And what can we say about its culture and gastronomy, as colorful as they are diverse?

One thing that attracts visitors, especially from colder countries such as the UK, is the climate. The climate of this country varies according to the region where you are, and you can appreciate the four seasons of the year very well. If we add to that the fact that when it comes to drinks (which the English love) it is one of the places that offers low cost prices, then we are describing paradise. Plus it’s very close (geographically) to their home country so airfares aren’t that expensive. Places like the Balearic Islands, the Canary Islands and Malaga have become the perfect place for English people to enjoy their pension.

¿Qué debo saber para residir en España luego de mi retiro?

Before 2020, the procedures for British pensioners to reside in Spain were much simpler. Everything changed with the United Kingdom’s exit from the European Union (Brexit) on 1 January 2021. This meant that the British lost many of the privileges granted to them as EU citizens. So they have had to look for other ways for those who still want to have their residence in Spain after their retirement.

One of these options is the non lucrative Visa where the Spanish government allows non-EU citizens to reside in its territory, as long as they can prove that they have the financial resources to support themselves and their families. In this way, anyone whose income comes from pensions, rents or dividends can enter Spain to reside for one year. After this initial year, the non lucrative visa is renewable for 2×2 years, accumulating five years of stay in Spanish territory. After that, those who wish to continue to reside permanently in Spain must apply for a permanent residence permit. This visa is considered a long-term residence permit and will limit the beneficiary to perform an economic or professional function.

Another visa you can get is the Spanish golden visa but you have to invest a minimum of 500.000€ in a property in Spain, without a mortgage and the property can only be in the name of one person.

What requirements do I need to retire to Spain?

As mentioned above, the main requirement for settling for a long period of time in Spain as a British citizen is proof that you have sufficient funds to support yourself without working in Spain. This is assessed using the IPREM which is the indicator used in Spain to determine a person’s minimum income on an annual basis. Thus, the applicant for the non lucrative visa must have at least 400% of the total value of the IPREM in his or her bank account each year. To this figure will be added an extra (around 6,948.24 euros) for each family member you decide to add to this visa.

You will also need to submit a number of documents:

  • Visa application form: must be filled out correctly and without spelling mistakes, answers as complete as possible and signed by the applicant.
  • Passport-type photo: a professional photo, with a white background, clearly showing the applicant’s face, 3×4 centimeters in size.
  • Travel document: original and photocopy of the applicant’s passport. It must have been issued within the last ten years and must have at least two blank pages where the non-profit residence visa in Spain will be attached.
  • Criminal record certificate: it must be from the last five years and in all those countries where he/she has lived for a period of more than six months. This document must be translated into Spanish by a sworn translator who certifies the absence of a criminal record.
  • Private health insurance: the private health insurance must cover a minimum of one year, and must be issued by an insurance company operating within Spanish territory.
  • Ex-01 form: form that must be filled in correctly with all the required information.
  • Medical certificate: document that specifies that the applicant does not suffer from any illness that would limit entry to this country.

The non lucrative visa Spain must apply for at least five weeks before traveling to this country, and its application must be made within three months of its response. It can be processed through the Spanish embassy, the Spanish consulate or also through a company that is certified to be able to offer this type of visa.

If you are interested in obtaining this type of visa, the My Spain visa team is the ideal place to find the information you need. Here their experts in this field will deal with your application individually and efficiently. You can find out what requirements you need to fulfill and how to proceed step by step. The MyVisaSpain team will be at your disposal throughout the entire process so that your application is accepted.

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