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Home » Retiring in Style: How the Spanish Non-Lucrative Visa Can Help You Enjoy Your Golden Years

Retiring in Style: How the Spanish Non-Lucrative Visa Can Help You Enjoy Your Golden Years

It has a fantastic climate, culture and stunning views with stunning views and culture Spain is definitely an attractive alternative for living and retirement. Many residents of the UK who own Spanish properties planned for eventual retirement in the hot climate of Spain. After the Brexit withdrawal on the 01st of January 2021, the Legal Regime of Foreigners is applicable for British citizens, which limits the length of time they can remain in Spain. To reside in Spain or retire and move to Spain, British citizens may apply for a variety of visas. One of them is the non-lucrative residence permit.

In this guide, we explain what a non-lucrative visa is and the process by which it works, and how a British citizen can acquire the visa without lucrative requirements and the way it compares to the Golden Visa. We also talk about the advantages of having one and how it could be your ticket to retiring in Spain.

What is a non-lucrative visa and who is it ideal for?

The non lucrative visa Spain allows non-EU citizens the right to reside in Spain in the event that they can prove that they have the resources to provide for themselves and their family. Non-lucrative visas are obtained by citizens of third-country countries who want to live in Spain for more than 90 days, but are not planning to perform work within Spain. This visa is perfect for foreign nationals who plan to retire to Spain or just want to reside in Spain for extended periods of time, such as, for example, in the warmer summer months.

What is the difference between a non-lucrative visa and the Golden Visa?

The non-lucrative Visa differs in comparison to the Golden Visa in that a Golden Visa requires one of a range of kinds of investments in Spain which the most typical of that is the purchase of an investment property worth more than EUR500,000. Other options for investment revolve around commercial investment.

The non-lucrative travel visa for Spain is an excellent alternative for British retired residents or those who are not working since the UK is no longer part of the EU and doesn’t require any kind of investment.

What is the length of time an unlucrative visa to Spain validfor, and can you renew the validity of your visa?

Once you have secured your non-lucrative visa It will be valid for a period of one year. After which you can renew it for a further period of two years, after which your visa will be renewed for another two years. After five years of legally residency , you can apply for permanent residency. Renewing a non-lucrative visa must be submitted in Spain.

Find out more about renewing your non-lucrative Visa below.

A non-lucrative permit requires the holder to stay for 183 days in Spain each year to renew at the time of each expiration.

After five years of legal residency in Spain In Spain, you will have the opportunity to apply for a long-term residence permit. Once you have obtained permanent residency after 10 years of residence, you are able to apply to become a Spanish citizen. In order to obtain Spanish citizenship means you will be required to surrender your UK citizenship.

What are the advantages of obtaining an Spanish Non-lucrative Visa?

The process of obtaining the Spanish non-lucrative passport as a British citizen provides these benefits:

You are not required to invest in Spanish property

As opposed to other visas, such as the Golden Visa, there is no investment in the Spanish economy required for this visa.

Request an extended family or joint visa

It is possible to include your spouse or other members of your family, as family members of your immediate relatives can be included on your visa. Children of dependents may attend schools or pursue studies while living in a non-lucrative viza.

You can progress to a visa for work If you wish to

A non-lucrative Visa has the flexibility to be amended to a working visa following an effective renewal in the initial year.

Work remotely for a business in another country than Spain

Non-lucrative Visas allow the employee to work remotely for an organization outside of Spain.

Potential to invest

There is a chance to invest in a property to use for rental purposes.

Mobility is completely free

Visa holders who are not earning a profit can travel at their leisure throughout those who are not lucrative visa holders can travel freely within the Schengen Area, which is an area of 26 European nations that have officially ended all border security and passports at their borders.

The ability to reside in Spain without needing to work on Spanish territory

Do you have hopes for retirement in Spain? A non-lucrative visa is ideal If you’re looking to retire and retire in Spain because there is no need to be employed in Spain.

What documents are required to apply for an unlucrative visa for British citizen?

British citizens who want to apply for a non-lucrative residence permit must meet the following conditions and present the required documents:

Passport with at least one-year validity prior to the date of expiration.
Certificate of non-criminal record in both Spain and the UK and Spain valid for three months.
Be sure to have proof of adequate funds. You require accreditation of sufficient financial resources to cover the expenses associated with your stay for one year. For 2021-based each month, you will need to be able to prove there is EUR27,115.20 within your accounts or that you earn a minimum per month of EUR2,259.60. If you have a dependent on your account, you need to be able to provide an additional €6,778,80 per year or EUR564.90 each month.
Aren’t currently in a non-legal (irregular) scenario in Spain.
Sufficient healthcare insurance.
Medical certificate that confirms you are not suffering from any of the illnesses which could have severe public health effects in line with the International Health Regulations of 2005.

A non-lucrative tourist visa application in the UK

Where to apply

You must apply for the non-lucrative Visa prior to departure to Spain The application has to be submitted at the closest Consulate General of Spain in the UK.

A request for a visa that is not lucrative must be submitted by the person who would like to get the visa.

The parent or guardian, or a legally accredited representative (in extreme situations) is able to apply on behalf of the minor.

What to expect

It is necessary to provide the above-mentioned documents as well as a formal interview will be conducted at the consulate , which will be used to make a final decision regarding the visa.

The consulate then has one month to either approve or refuse your application. When your request has been accepted then you will are given a month after the confirmation of approval to pick up your permit at the consulate. You will also be given you NIE (Numero de identidad de extranjero) together with your visa.

Arriving in Spain

You must arrive in Spain within 3 months from the notification of the award of your visa.

There is a month after your date of entry to go to the Foreigners Office to request your TIE (which is a card for foreigners which is also known as the resident card. In addition, within one month of your arrival, you will be required to sign a registration at the town hall that is corresponding to the town in which you live in Spain.

How do you renew your non-lucrative visa?

For the purpose of renewing your non-lucrative visa To renew your non-lucrative visa, you must present the following documents:

Application Form EX01 (two copies).
Passport (valid for at least one year).
Copies of all pages of your passport.
Your current Tarjeta de Identidad de Extranjeros or TIE.
Fee Form 790-052 (paid and stamped).
The registration of your address to Spain ( padron ).
Health insurance that meets the requirements of the Immigration Office.
Affordable and stable income over the coming two years (monthly greater than four times current calendar year’s IPREM for the principal applicant, plus one IPREM for each member of the family).

For documents that are not prepared in Spanish it is necessary to make use of a recognized official translator that is certified with Spain’s Ministry of Foreign Affairs.

How does the non-lucrative visa contrast to Golden Visa?

The Golden Visa is another option for obtaining residency for a period of time in Spain for British citizens. It is an ideal alternative for entrepreneurs and investors who want to make significant investments in Spain such as setting up businesses or investing in existing businesses in Spain. It’s also great for British citizens wishing to increase their portfolio of property in Spain or simply buy large properties in Spain.

What are the conditions to be met to receive a Golden Visa?

To be eligible for a Golden Visa, you need an investment amount equal to or greater than EUR500,000 Euros per applicant. This must be free of any encumbrances including mortgages. In addition, you must be able of proving that the expenses for running a house at this price and the all living expenses are covered.

Alternative investment methods to earn the Golden Visa include:

One million euros worth of shares of a company or shares of Spanish capital firms that are engaged in actual business activity
One million euros in investments funds or closed-end investment funds, or venture capital fund created by Spain in one million euros of bank deposits held in Spanish banking institutions.

Is this a suitable solution for you?

The Golden Visa may be an excellent option in the event that you own a property in Spain which is valued above the EUR500,000 threshold of investment which is unencumbered by mortgages or other financial liens.

It is also possible to work in Spain. Golden Visa also brings the advantage of enabling the possibility for working Spain since it provides the option of obtaining a work permit.