Offering a great environment, culture and breathtaking views with stunning views and culture Spain is definitely an attractive option for residence and even retirement. A large portion of those in the UK have Spanish properties are planning to take retirement in the mild climate of Spain. After the Brexit departure on 01 January 2021 The Legal Regime for Foreigners now applies to British citizen, which restricts the number of days they can remain in Spain. To live in Spain or retire to Spain, British citizens may apply for a variety of visas, one of which is the non-lucrative resident visa.
In this article we will explain the meaning of a Spanish non lucrative visa, how an British citizen can apply for an non-lucrative Visa and the way it compares to the Golden Visa. We also discuss the benefits of obtaining one and why it might be your solution to retirement in Spain.
What is a non-lucrative travel visa and who is it ideal for?
The non-lucrative Visa of Spain permits non-EU citizens to live in Spain if they can prove that they have sufficient funds to provide for themselves and their family. Non-lucrative visas can be applied for by third-country nationals who would like to stay in Spain for longer than 90 days, but are not planning to work in Spain. This is a great visa for foreigners who intend to retire in Spain or simply wish to reside in Spain for long durations of time, for instance, during the warm summer months.
What is the difference between a visa that is not lucrative and a Golden Visa?
The non-lucrative visa is different in comparison to those with the Golden Visa in that a Golden Visa requires one of several types of investment in Spain, the most common of which is the purchase of homes worth more than EUR500,000. Other types of investments that are suitable are based on commercial investments.
A non-lucrative visa for Spain is an ideal alternative for British retirees or non-working residents since the UK is no longer part of the EU and does not require an investment in any way.
What is the length of time a non-lucrative tourist visa for Spain validand is it possible to renew it?
Once you’ve secured your non-lucrative visa the visa is valid for one year, after which you are able to renew it for a further period of two years, then your visa is renewed for an additional two years. After five years of valid residency you may apply for permanent residency. Renewing a non-lucrative passport is required in Spain.
Learn more information about renewing your non-lucrative passport below.
A non-lucrative visa requires the holder to stay for 183 days in Spain each year to be renewed at each expiration.
After five years of residency in Spain In Spain, you will have the opportunity to apply for a long-term resident permit. Once you have secured permanent residency after 10 years of residency , you may later apply for becoming an Spanish citizen. When you apply for Spanish citizenship will mean that you must give up your UK citizenship.
What are the advantages of getting the Spanish Visa that is not lucrative?
The process of obtaining the Spanish non-lucrative visa as an British citizen offers these benefits:
There is no requirement for investment in Spanish property
Unlike it’s counterpart, the Golden Visa, there is no need to make an investment in the Spanish economy that is required to obtain this visa.
Apply for a joint or family visa
It is possible to include your spouse and any other family members as immediate family members can be included on your visa. Children of dependents may attend the school or university while they live under a non-lucrative Visa.
You can progress to a visa for work Should you choose to do so
A non-lucrative Visa has the possibility of being amended into a work visa upon the successful renewal of the visa following the first year.
Work remotely for a company located outside of Spain
A non-lucrative permit permits the employee to work remotely for a business outside of Spain.
Potential to invest
There is a chance to invest in a property to make it available for rental.
Mobility is completely free
Visa holders who are not earning a profit can travel at their leisure in their Schengen Area, which is an area that includes 26 European nations that have formally abolished any border control and passports at their borders.
You can reside in Spain without needing to work on Spanish territory
Do you have dreams of retirement in Spain? A non-lucrative visa is ideal If you’re looking to retire and settle in Spain since there’s no need to work in Spain.
What documents are required in order to obtain a non-lucrative visa as a British citizen?
British citizens who wish to apply for the non-lucrative residency visa must satisfy the following criteria and be able to show the following documents:
Passport that has at least one year of validity before its expiry date.
Certificate of non-criminal conviction in both either the UK and Spain valid for three months.
Have proof of sufficient funds. You require accreditation of sufficient economic means to support the expenses associated with your stay for a year. Throughout 2021, for monthly support, you must show that you have EUR27,115.20 in your account or that you have a minimum monthly income of EUR2,259.60. If you have a dependent on your account, you need to contribute an additional EUR6,778,80 each year or EUR564.90 every month.
You should not be in a non-legal (irregular) condition in Spain.
Sufficient healthcare insurance.
Medical certificate that proves that you don’t suffer from any of the illnesses which could have severe health implications for public health in accordance with the International Health Regulations of 2005.
Application for a non-lucrative Visa in the UK
Where can I apply
You must apply for the non-lucrative Visa prior to you depart to Spain, and the application should be made at the nearest Consulate General of Spain within the UK.
A request for a visa that is not lucrative must be presented by the individual who wishes to apply for the visa.
A parent, guardian or an official who is accredited (in extreme cases) is able to apply on behalf of a minor.
What should you expect?
It is necessary to present the documents listed above for a mandatory interview. will take place at the consulate office, which will be used to make a final decision regarding the visa.
The consulate then has one month to either decide whether or not to approve your application. When your application has been accepted, you then can wait for one calendar month following the announcement of approval to pick up your visa at the consulate. Also, you will be issued the NIE (Numero de identidad de extranjero) together with your visa.
Arriving in Spain
The visa holder must arrive in Spain within three months of the notification of the grant of your visa.
You have one month from the date you entered to visit the Foreigners Office to request your TIE, which is a foreigner’s identity card which is also known as the resident card. Additionally, within one month of arrival you are required to complete a registration at the town hall that is corresponding to the municipality in which you live in Spain.
Can you get your Non-lucrative visa renewed?
To renew your non-lucrative visa it is necessary to present the following documents:
Application Form EX01 (two copies).
Passport (valid for at least one year).
Copy of all the pages of your passport.
Your current Tarjeta de Identidad de Extranjeros or TIE.
Fee Form 790-052 (paid with a stamp).
Your address registration for Spain ( padron ).
Health insurance that is in line with the regulations for the Immigration Office.
Proof of an adequate and reliable income that is available over the coming two years (monthly, more than four times the current fiscal year’s IPREM for the applicant who is the primary applicant in addition, one IPREM for every family member).
For documents that are not prepared in Spanish you must use an officially recognised translation service accepted as compliant by Spain’s Ministry of Foreign Affairs.
What does the non-lucrative Visa contrast to Golden Visa?
A Golden Visa is another option to obtain a residency permit for a period of time in Spain to British citizens. It’s a great alternative for entrepreneurs and investors who wish to make substantial investments in Spain, including setting up a business as well as investing into existing companies in Spain. It’s also a great option for British citizens who wish to build their property portfolio in Spain or to purchase a substantial property in Spain.
What is required to obtain a Golden Visa?
To qualify for a Golden Visa, you need an investment worth equal to or greater than EUR500,000 Euros per applicant. It should be free of any encumbrances , such as mortgage. Additionally, you must also be able prove that the cost of running a property that is this high as well as general living expenses can be paid for.
Alternative types of investment to get the Golden Visa include:
One million euros of shares of a company or the stock of Spanish capital firms that are engaged in actual business activities
One million euros of the investment fund, close-end investment funds, or venture capital fund established in Spain as well as one million euro in bank deposits held in Spanish banking institutions.
This could be a good solution for you?
The Golden Visa may be an excellent option if you own a house in Spain with a value of the EUR500,000 investment threshold which is free of mortgages or any other financial lien.
The Golden Visa also brings the advantage of enabling the possibility for working Spain since it provides the possibility of obtaining work authorization.
Ask for help from our Spanish immigration lawyers
We have Spanish immigration lawyers are able to advise and assist you throughout the process of applying for both visas. We’ll assist you in determining the viability of your application right from the beginning, and ensure that the documentation you submit is legal and not prone to errors to ensure that you do not get rejected. We will be able to answer any questions you may have about making an application.
Frequently asked questions
How many days can you remain in Spain as non-resident?
The tourist visa will allow you to stay in Spain for three months. Ninety days is the maximum length of time you can legally live in Spain without having to obtain the residency certificate.
How much money do you need to retire in Spain?
The cost of living in Spain is relatively low, and you can comfortably retire in Spain for around $25,000 a year. However, this is contingent to your lifestyle and also depends on region you chose to live in Spain.
What type of visa do you require before retiring in Spain?
Based on their financial needs, British citizens wishing to retire to Spain are typically eligible for the Golden Visa or a non-lucrative visa that allows them to stay for a longer period in Spain.
Are you thinking of retiring to Spain an excellent idea?
Spain offers many benefits for people wishing to retire like a lower cost of living high quality healthcare at a reasonable cost, as well as rich history and culture – and has been a popular location for those looking to retire.