The non lucrative visa spain is ideal for all those who want to retire in Spain, without having to worry about working. It is one of the most popular types of residence visas because it does not require any specific investment, but rather proves that the applicant has enough financial resources to live in the country. Applicants are required to attend an interview with the consulate during which they must present all documents for the application. It is important to have all the paperwork together before scheduling an appointment, as this will prevent delays and ensure that everything is in order.
The initial non lucrative visa is granted for 1 year, and can be renewed for a further 2 years. It is also possible to obtain a permanent residence permit after 5 years, provided that all requirements have been met.
To apply for the non lucrative visa, the applicant must first submit all the necessary documentation to the Spanish consulate or embassy in their home country. This includes an application form, proof of funds (bank statements with the minimum of EUR 28,800 for the main applicant and up to EUR 7,200 for any family members who will be joining them in Spain), a medical certificate, a copy of your passport, and proof of your identity.
The consulate may request additional documents, such as the tax identification number (NIE) for the applicant and their family, employment letter stating salary (if working), a certificate of rental income (if renting property in Spain), or proof of other sources of income. The documents must be authenticated and certified by the consulate or embassy in the country of origin.
During the interview, the consular officer will examine all the documentation and determine whether or not the visa applicant has sufficient funds to support themselves in Spain. They will also verify that the applicant has not visited any other Schengen member states in the last five years. The consular officer will check the fingerprints and facial image of the applicant as well.
The non lucrative visa does not provide the right to work, but it does allow for free movement within the European Union. It also enables the holder to travel to other EU countries, although it is important to note that the holder must abide by the entry requirements of each individual country. The visa can also be extended indefinitely, but the holder must be sure to renew it before the final 90 days of its validity. It should also be remembered that, as with any type of residency in Spain, the holder is considered a tax resident, and must pay income taxes on their worldwide earnings. Those who wish to retain their tax residency status should consult with an experienced attorney regarding their options. Our firm has extensive experience assisting clients with residency applications, including the non lucrative visa. Contact us today to learn more about how we can help you. We are happy to discuss your situation and answer any questions that you may have.