If you are a non-EU citizen and plan to move to Spain permanently, you will need to obtain a visa that allows you to do so. While there are several options, the non lucrative visa spain is one of the easiest to obtain and maintain, since it does not require an investment and focuses on your financial means rather than employment. This article outlines the process, requirements and steps involved in obtaining this residence visa.
Non Lucrative Visa Requirements
The first step in acquiring a non lucrative visa is to apply for it from your country of residence before moving to Spain. You will need to submit a number of documents including two passport-sized photos that meet the requirements set by the Spanish consulate, a medical certificate that proves you do not suffer from any diseases that may have serious public health implications (in case your family members also want to obtain the visa) and proof that you have sufficient funds to cover the costs of living in Spain for two years. The proof of funds can be in the form of bank statements, credit card bills or property values that are registered in your name.
You will also need to provide evidence of a private health insurance policy that covers the entirety of your stay in Spain. This policy must be valid for the duration of your visa and contracting with a Spanish company that specializes exclusively in this type of insurance is a good idea. The minimum sum for the policy is four times the current year’s IPREM (a figure that varies according to each consulate).
As with the other types of residence visa, you will need to demonstrate that you are not working in Spain, so it is important to bring a letter from your employer showing that you have a fixed salary and are working outside of Spain. Some applicants opt to work remotely while in Spain, so this arrangement should be explained carefully as it could cause some confusion at the time of application.
After a year of residence in Spain with a non lucrative visa, you can extend your permit for another two years and after five years of residence you can apply for permanent residency. This visa is very popular with retirees as it is an easy route to becoming a resident in Spain without the need for employment or investments.
In contrast, a Golden Visa requires that you make at least one of a variety of investments in the Spanish economy, such as purchasing real estate or investing in commercial companies. It is important to speak with a lawyer before proceeding to understand the different requirements and how they can affect your situation. We are happy to discuss the process with you and help you decide which option is best for you. Contact us today to arrange a consultation. Our team is highly experienced in advising clients on their immigration and citizenship needs.