Who doesn’t feel like spending their days on the beaches of Spain, savor Spanish cuisine and wander Spanish towns? That too, without going to work? Seems like a distant dream, right? Well – it isn’t! Ever heard of the Spain Non-Lucrative Visa? If not, it is something you would absolutely be interested in.
With this visa, anyone from outside the European Union can reside in Spain during retirement, or at least legally stay in Spain for up to 5 years.
Let’s learn more about this visa.
Book A Consultation
Why Choose the Spain Retirement Visa?
The Spain retirement visa fits those who would prefer living in Spain but under no circumstances, would like to engage in any business or occupation. People still refer to it as the Spain Retirement Visa since the majority goes to Spain with the intention to retire in the Mediterranean country.
It is, however, well suited to individuals who can survive without having to seek employment to generate income. In other words, you must have various income streams flowing in the form of rents or foreign income.
The main benefits of acquiring your Spain Non-Lucrative Visa include:
Residency Permit:This one is issued at the time of approval of the visa and is valid for one year and can be extended for two years each. can make a move for permanent residency after 5 years.
Family Reunification:This visa enables your close relatives (spouse, unmarried partner, dependent children, and other dependents) to accompany you to Spain under the same visa type.
Schengen Zone Travel: With this visa, you have an option to travel without a visa to any of the Schengen countries for up to 90 days in a 180 day period.
Education and Health Services: Members within your family can be part of Spain’s public education system. You will find that Spain has an excellent health care system, so for this you will require private health insurance.
Affordable Cost of Living: Spain is considered to be one of the cheapest EU countries as the prices on housing, utilities
Book A Consultation
Spain Non-Lucrative Visa Requirements How to Become Eligible for the Spain NLV program?
Before applying for the Spanish Non-Lucrative Visa, an applicant has to meet several requirements that prove he/she is financially independent and in good health.
Here are the primary requirements:
1. Sufficient Financial Means
You have to demonstrate the financial means for your subsistence, as well as for the subsistence of any family members, without engaging in any employment in Spain.
The minimum amount is 400% of the Spanish Public Multiple Effects Income Indicator or IPREM, which is approximately €28,800 annually. An additional 100% of the IPREM is also needed for each additional family member (€537.84/ month).
2. Private Health Insurance
In particular, the applicants need to have private health insurance from an insurance company based in Spain.
The insurance policy has to include all the risks normally insured by Spain’s public health system. This is important as Spain’s public inherited healthcare is unavailable to non business residency visa holders unless they buy private health cover.
3. Valid Passport
The document must not be less than one year from its expiry date and must have two empty visa pages. Moreover, you need a passport issued within the last ten years.
4. Criminal Record Check Certificate
You will require a criminal record check certificate from the countries of your residence. It should be for the last five years, indicating that you do not have any criminal record of any serious nature.
5. Medical Certificate
In accordance with the 2005 International Health Regulations, you are required to present a medical certificate that proves that you are not afflicted with any rigorous communicable diseases or illnesses out there.
6. Proof of Accommodation
You’ll have to prove that you have an address within Spain: lease or contract of premises, title deed or deed of a house.
Other Eligibility Criteria For the Non-Lucrative Visa
- Age: No age requirements, whatsoever.
- Non-EU Nationals: Must be a non-EU country.
- Good Health: Shouldn’t have any contagious or serious illness.
- Proof of Financial Independence: Simply showing savings isn’t enough. You will need to show that your income stream come from rents, property or foreign income.
Book A Consultation
Last Updated : October 2024 Spain Retirement Visa Income Requirements
To qualify for the Spain Retirement visa, one must meet the minimum financial requirement threshold.
Applicants must show sufficient financial resources that can include investments, annuities, or other sources of income, such as a pension. These funds can be located in a personal bank account in Spain or in their country of origin and must total a minimum of:
- 400% of the IPREM* for the main applicant. Currently: 2,151.36 EUR per month or 25,816.32 EUR for the year.
- 100% of the IPREM for each family member. Currently 537.84 EUR per month or 6,454.08 per year.
Best Cities to Retire In Spain
Spain offers a diverse range of popular places to live, each with its own charm and lifestyle. Barcelona, renowned for its stunning architecture, Mediterranean beaches, and cosmopolitan atmosphere, is a top choice for those seeking vibrant city life.
Here is a breakdown of the best cities to live in Spain:
Barcelona: Known for its stunning mix of modernist architecture by Gaudí, like the Sagrada Família, and historic sites, Barcelona is ideal for those who love a blend of culture, beach, and nightlife. Its Mediterranean climate, vibrant arts scene, and excellent public transport make it one of Spain’s top cities for expats and young professionals.
Madrid: As the capital, Madrid is a cultural powerhouse with world-renowned museums like the Prado and Royal Palace, plus lively neighborhoods such as Malasaña and La Latina. Madrid offers a dynamic lifestyle with a high-energy pace, perfect for people who love a cosmopolitan atmosphere filled with parks, nightlife, and history.
Valencia: Valencia strikes a balance between city living and beachside relaxation. Famous for its futuristic City of Arts and Sciences and traditional paella, Valencia is popular with families and digital nomads seeking affordability, cultural attractions, and a relaxed lifestyle. It also has beautiful sandy beaches right in the city.
Seville: Deeply rooted in traditional Spanish culture, Seville is the place for those who love flamenco, fiestas, and historic architecture like the Alcázar. It has a slower pace of life, beautiful plazas, and warm weather nearly year-round, attracting people who appreciate a charming, sun-soaked city with Andalusian soul.
Málaga: A gateway to the Costa del Sol, Málaga is known for its stunning beaches, lively port area, and historic sites like the Alcazaba fortress. It combines the warmth of coastal living with a cultural touch, appealing to retirees and those who want a relaxing Mediterranean lifestyle without sacrificing urban amenities.
Marbella: On the luxurious side, Marbella attracts those looking for a glamorous beachside life, with high-end restaurants, golf courses, and exclusive beachfront properties. It’s popular among expats, especially for its prestigious international schools and upscale lifestyle.
San Sebastián: Known for its picturesque beaches and gourmet food scene, San Sebastián in the Basque Country is ideal for food lovers and beachgoers alike. With a reputation for Michelin-starred restaurants and scenic views, this coastal gem attracts those who appreciate a unique culture and cooler climate.
Bilbao: A revitalized city with a modern edge, Bilbao boasts the famous Guggenheim Museum and a thriving culinary scene. Its blend of contemporary art, green spaces, and industrial history draws people who enjoy an urban lifestyle in a smaller, innovative city surrounded by lush landscapes.
Each of these cities in Spain offers something unique, from coastal relaxation to urban vibrance, making Spain a truly diverse and popular destination for various lifestyles.
Last Updated : October 2024
Not sure how this fits your strategy?
A focused consultation to assess your objectives and shortlist the right options.
Spain Retirement Visa: Is This Visa Built for Retirees?
The Spain retirement visa, officially known as the Spain Non-Lucrative visa, is a great option but not limited to retirees. Applicants with foreign passive income may qualify regardless of age or the lack of a pension per se.
That said, other source of passive income such as rental, stocks, shares may also qualify for the Spain retirement visa. Applicants who can meet the financial requirements should not miss this opportunity to enjoy the amazing Spanish lifestyle.
Dominican Republic Retirement Visa Cost of Living in Spain
The cost of living in Spain is generally lower than in many other Western European countries, making it an attractive option for expats and retirees.
While it varies significantly between regions, Madrid and Barcelona are the most expensive cities, especially in terms of rent and dining out. In these urban centers, monthly expenses for a single person, including rent, might range from €1,500 to €2,500.
In smaller cities like Valencia, Málaga, or Seville, and particularly in rural areas, the cost is notably lower, with monthly expenses averaging between €1,000 and €1,800.
Groceries, utilities, and public transport are affordable throughout the country, and Spain’s excellent public healthcare system helps reduce medical expenses.
Dining out is also relatively inexpensive, especially in non-touristic areas, with tapas bars and local markets offering affordable options.
Overall, Spain provides a high quality of life at a reasonable cost, appealing to those seeking affordability without sacrificing amenities or lifestyle.
Pathway to Spanish Citizenship
The Non-Lucrative Residency Visa will always serve as a good point of entry to file for Spanish citizenship.
After living for five consecutive years, you can apply for an immigrant visa or permanent residence. After a combined 10 years’ residence in Spain, one can opt for naturalization to Spanish citizenship after going through certain legal tests that include Spanish language test, and cultural assimilation test.
The Application Process Application Process: How to Get Your Spain Non-Lucrative Visa
Book A ConsultationStep 1: Initial consultation with Lincoln Global Partners
This should be your first step so that our team can do a comprehensive review of your eligibility and help you understand all the options available at your disposal to qualify for a resident permit in Spain.You will also get a clear idea of the extent of due diligence and preliminary preparation required to ensure minimal complications at a later date.
Step 2: Gather Documents up
Ensure you have the following:
- National Visa Application Form and Non-Lucrative Residency Visa Application Form (EX-01);
- Valid Passport with at least one year of validity;
- Recent Passport-size Photo;
- Proof of Financial Means such as bank statements or proof of passive income;
- Private Health Insurance documentation;
- Criminal Record Check Certificate;
- Medical Certificate;
- Proof of Residence in Spain (rental contract or ownership documents).
Step 3: Application Submittance
Submit your visa application in person at the Spanish Consulate in your country. Be prepared for a possible interview, and always ensure that documents requiring apostilles or translations into Spanish are correctly prepared.
Step 4: Pay the Visa Fee
Visa fees vary based on nationality. Typically, it costs around €80, but fees can be higher for citizens from countries such as the US, Canada, or the UK. Make sure to check the exact visa fee with the Spanish Consulate.
Step 5: Await the Decision
Processing can take up to 3 months, although some applicants receive responses sooner. You’ll receive a proof of receipt allowing you to track your application status.
Step 6: Collect Your Visa
Once approved, you’ll receive a Non-Lucrative Residence Visa, valid for 90 days. Upon arrival in Spain, you must apply for a Foreigner Identity Card (TIE) within 30 days.
Alternative Residency Options in Spain
If the Non-Lucrative Visa is not the option for you, don’t worry!
Spain offers other residency options apart from the Non-Lucrative Visa:
Spain Golden Visa: From the investors’ aspect, the Golden Visa is perfect. It involves an initial investment of at least €500,000 on a residential property or a business, or hold substantial financial capital in Spain but offers you the opportunity to work and get residency faster than other programs.
Student Visa: Students willing to study in Spain can avail the Student Visa. It can also serve as a stepping stone to long-term residency.
Spain Digital Nomad Visa: For Spain’s digital nomad visa, remote workers must showcase an income of at least € 2,300 per month (approximately), corresponding to 200% of the minimum wage or savings in the amount of € 26,000 in the bank account.
Lincoln Global Partners: Apply with us today!
Lincoln Global Partners is an international immigration consultancy firm that specializes in Residency and Citizenship programs. Our team of specialised consultants will help you throughout the journey, including the question whether this is the right program for you in the first place.With us by your side, you will be assured of our best efforts in helping you have a great experience in quickly qualifying for residence in Spain from your home country.
Spain Retirement Visa : Frequently asked Questions
Checkout our FAQ's or reach out to us directly via the contact form at the bottom of the page with further questions.Can I work with a Non-Lucrative Visa in Spain?The Non-Lucrative Visa does not permit any type of paid work in Spain.
Does Spain Have a Retirement Visa?Yes, Spain offers the Non-Lucrative Visa, a residency option for those who can prove a minimum passive income of at least EUR 28,000 per annum.
What is the processing time for the Non-Lucrative Visa?Application can take anything from 1-3 months which is why it is encouraged that people apply early and with ample preparation.
Consult our team for more information.
Can my family members join me in Spain?Yes, applicants are allowed to reunify their families under the Spanish Non-Lucrative Visa but they are subjected to meet financial conditions.
How long does it take to get Spanish citizenship?After five years of consecutive residency, you can apply for a permanent residency, and after 10 years – for Spanish citizenship.
Is there a Spain Retirement visa for US citizens?Yes, Americans retirees can obtain residency in Spain through the Spain Non-Lucrative visa.
What are the Spain Retirement visa requirements?Applicants must show sufficient financial resources that can include investments, annuities, or other sources of income, such as a pension. These funds can be located in a personal bank account in Spain or in their country of origin and must total a minimum of:
- 400% of the IPREM* for the main applicant. Currently: 2,151.36 EUR per month or 25,816.32 EUR for the year.
- 100% of the IPREM for each family member. Currently 537.84 EUR per month or 6,454.08 per year.
The Spain Retirement visa (Non-Lucrative Visa) is still valid in October 2024, with no prediction to get cancelled. Applicants may qualify for Spanish residency by meeting the minimum income threshold.
