My wife and I have booked a 6 month visit to Spain in November. Using our U.S.passports, my understanding is that we have to:
1. Get an N.I.E. number at the local police or government office. Then we can open a bank account. We need to prove that we have cash assets and/or income to cover 120 E a day for our visit and proof of acceptable health insurance and an address.
2. After getting our N.I.E., within 30 days of arrival, we must go to either the local police station or government office and obtain a T.I.E. Again, we will need to provide the same documentation as the N.I.E. plus color passport photos and a completed form EX17.
3. If we stay longer than 6 months, we are subject to Spanish income tax on our worldwide income. We only have Soc Security income of about $28,000 a year and understand we would have to pay a significant amount.
My question is - Is my understanding correct?
Any guidance would be appreciated.
Thanks,
Lou
1. Get an N.I.E. number at the local police or government office. Then we can open a bank account. We need to prove that we have cash assets and/or income to cover 120 E a day for our visit and proof of acceptable health insurance and an address.
2. After getting our N.I.E., within 30 days of arrival, we must go to either the local police station or government office and obtain a T.I.E. Again, we will need to provide the same documentation as the N.I.E. plus color passport photos and a completed form EX17.
3. If we stay longer than 6 months, we are subject to Spanish income tax on our worldwide income. We only have Soc Security income of about $28,000 a year and understand we would have to pay a significant amount.
My question is - Is my understanding correct?
Any guidance would be appreciated.
Thanks,
Lou
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