Will I be allowed residency in Tenerife?

Needtogetoutofhere2021 Member

10POSTS

5 years ago

I鈥檓 wanting to move to Tenerife I want to buy a house outright then I鈥檒l have around 200k savings to retire on would I be allowed residency in Tenerife or would I need to have more income constantly coming in I鈥檓 early 50s and just ready to retire聽 modesty
any thoughts appreciated

2 members reacted to this post

See also

Working in Tenerife - Guide
Looking to move from Tenerife to mainland spain - 1 Reply
Accommodation in Tenerife - 2 Replies
Moving to Tenerife - 2 Replies
Canadians in Tenerife - 1 Reply
Renting in Tenerife - 2 Replies
Moving to tenerife - 7 Replies

SimCityAT Expert

13796POSTS

5 years ago

Yes, but move before 31st December 2020 due to Brexit. After that could cause problems with added paperwork.

JIMMY BOND Contributor

110POSTS

5 years ago

Could one rent a property before 31
12.20 and gain residency
I say rent in case the person wished to move back to uk after finding Spain not enjoyable

Johncar Spain Expert

1412POSTS

5 years ago

If you move to spain you can apply for residence status whenever that is.

If it is before 1st January then the amount of income / assets required will be less.聽聽Either way you will need 100% medical cover

200,000 euros savings is way above the minimum so you should have no problems.

2 members reacted to this post

raneidewilkins Member

1POSTS

5 years ago

I plan to movw to Tenerife聽 and situp a business I think聽 that is the easy way to stay at the Island聽 residence is just paper work as long you can prove you can find a job and doesnt expect living of social service any one can Find a way to becone resident its just paper work and a fare involve.
Well any country in tge world is moreless the same if you not a national.

Needtogetoutofhere2021 Member

10POSTS

5 years ago

My plans am more or lesser dashed atm if not for ever Spain requirements have changed quite a bit since the transition聽 I will now have to have 30k plus each year in a bank account just siting there for I think 4 years to satisfy Spanish non lucrative retirement visa when the rest of the Eu only needs about 7000 euros
The uk as basically stuffed anyone with a budget going to Spain to retire unless your rich to afford to have money tied up for years not being able to touch it for the sake of a visa

1 member reacted to this post