Escape The Economic Crisis In The UK By Retiring To Spain

• Published date: 29 November 2022
• Subject Matter: Employment and HR, Immigration, Retirement, Superannuation & Pensions, General Immigration, Work Visas
• Law Firm: Giambrone & Partners
• Author: Mr Andreu Marin Mu'oz

Retirement years should be relaxing, enjoyable and free from anxiety. A reward for all the years of toil. The impact of Brexit, COVID, the conflict in Eastern Europe and finally the budget bungled by the previous Prime Minister has resulted in a considerable number of over 65s in the United Kingdom facing, for the foreseeable future, an uncomfortable retirement full of deprivation, hardship and pensions that barely stretch to meet their needs. Royal London's cost of living report has discovered that four in five people approaching or already retired have had to change their retirement plan due to ever rising costs.

As the economic consequences of the painfully high cost of living crisis, older people search for solutions. Many people look towards Europe in general and Spain in particular with a view to relocating to country with an enviable warm climate, affordable cost of living and a culture and cuisine already familiar to many British citizens. The Office of National Statistics' (ONS)

most recent report indicates that a total of 284,988 British citizens are now living in Spain with 116,178, just under 40 per cent, being over 65 years.

Andreu Marin Mu'oz, a senior associate and head of immigration in Spain, commented "whilst the impact of Brexit has altered the ease with which British nationals can visit European Union countries; relocating to Spain, for those in their retirement years is an extremely viable option and can be achieved relatively easily." Andreu further pointed out "there are two visa options a non-lucrative visa and a Golden visa, dependent on the level of investment the applicant is able to commit. Our experienced immigration lawyers have had considerable success in managing and resolving complex issues relating to both non-lucrative and Golden Visas"

Non-Lucrative Visa

A non-lucrative visa is designed principally for individuals who have no intention of generating income in Spain but have sufficient income such as a pension or investment income to support themselves and their families, where necessary, in Spain. This is the perfect visa for the retired.

An application for a non-lucrative visa must be made through the Consulate, initially it is for a period of one year renewable for a every two years. After five years of residence permission may be granted for permanent residence.

The documentation required to support your application is as follows:

• A valid passport.
• Evidence of payment of the visa application.
• Completion of a...