British expats need more money to move to Spain & Portugal in 2022 – visa changes rules

Spain: British expats face threat of return to UK warns expert

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Spain and Portugal are popular relocation destinations for Britons. But from January 1, some of the visa requirements for hopeful expats will change.

British expats who want to retire in Spain and Portugal may need to review their budgets.

The popular D7 or non-lucrative visa has changed.

The financial requirements for both the Spanish non-lucrative visa and the Portuguese D7 passive income visa have been upped.

Alastair Johnson of expat advice service Where Can I Live said: “Most in the industry did expect an increase in both the Portuguese D7 and the Spanish non-lucrative visa’s financial requirements.

“However, the fact that these increases were at the lower end of expectations means that most who qualified in 2021 will still be able to move to Europe in 2022 using these immigration options.

“It’s a strong signal that Portugal and Spain are still welcoming expats with open arms.”

Both visas were perfect for retirement, as they are for expats who have income outside of work.

To move to Spain, British expats will need to prove they have at least €27,792 [£23,482] in income or savings.

The amount is €34,731 [£29,346] if expats have a dependent.

The new figures were an increase of 2.5 percent for would-be expats to Spain, and the change takes effect from January 1.

Portugal also increased its requirements, with the D7 visa now requiring more financial stability.

From January 1, British expats will have to prove a minimum income of €705 [£595] per month, up from €665 [£561] per month in 2021.

The new requirements can still be met by many expats.

For the D7 visa, Britons will need €8,460 [£7,147] per year, with dependents adding between €2,358 [£1,992] per child and €4,230 [£3573] per adult.

Alastair explained both Spain and Portugal were basing their requirements on the local minimum wages.

The minimum wage in Spain was raised from €950 [£802] to €965 [£815] this year, to be paid over 14 wages.

The minimum wage over 12 months was now €13,510 [£11,414] per year.

Portugal, meanwhile, upped the minimum wage by six percent, raising the monthly salary to €705 [£595].

British expats looking to relocate to Spain or Portugal should know the requirements for the visas they are planning to apply to.

Apart from the increased financial requirements, both the D7 and non-lucrative visas are unchanged.

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