A great atmosphere, culture, and beautiful views with stunning views and culture Spain is certainly an appealing alternative for living and retirement. A lot of people in the UK who own Spanish properties are planning to take retirement in the mild weather of Spain. After the Brexit departure on January 1, 2021 the Legal Regime of foreigners has been extended to British citizen, which restricts the number of days they can spend in Spain. In order to reside in Spain or to retire and move to Spain, British citizens may apply for a range of visas. One is the non-lucrative resident visa.
In this guide we will explain what a visa that is not alucrative one is, how one British citizen can obtain a non-lucrative visa and how it differs from it’s counterpart, the Golden Visa. We also talk about the advantages of having one and how it could be the answer to retirement in Spain.
What is a non-lucrative Visa, and who is it appropriate for?
The non-lucrative visa of Spain allows non-EU citizens to stay in Spain when they can show that they have the resources to provide for their family. The non-lucrative visa is sought by nationals of third countries who are planning to stay in Spain for more than 90 days but do not plan to perform work within Spain. This visa is ideal for foreigners who intend to retire in Spain or want to stay in Spain for long durations, 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 with those with the Golden Visa in that a Golden Visa requires one of several types of investments in Spain The most popular of which is the purchase of the house that is worth over EUR500,000. Other investment options focus on commercial investments.
While a non-lucrative Visa for Spain is a great alternative for British retirees or non-working residents, as the UK is no longer a part of the EU and is not required to make any type of investment.
How long is an unlucrative visa to Spain in effect, and how can the visa be extended?
When you’ve obtained your Spanish non lucrative visa It will be valid for one year. After which you may apply for renewal for an additional period of two years, then your visa is renewed for a further two years. After five years of legal residency , you could apply for permanent residency. Renewing a non-lucrative passport must be submitted in Spain.
Learn more information about renewing your non-lucrative passport below.
A non-lucrative Visa requires 183 days of residency in Spain each year to renew at the time of each expiration.
After five years of residency after five years of legal residency in Spain you have the possibility of applying for a long-term resident permit. Once you have obtained permanent residency after ten years of residency , you may be eligible to apply and become a Spanish citizen. When you apply for Spanish citizenship will mean that you will have to give up your UK citizenship.
What are the advantages of getting an Spanish Non-lucrative Visa?
Achieving a Spanish non-lucrative visa for an British citizen offers the following advantages:
There is no requirement to buy Spanish property
Contrary to the Golden Visa, there is no commitment to the Spanish economy needed to qualify for this visa.
Request a joint or family visa
It is possible to include your spouse as well as other family members as immediate family members can be included in your visa. The children of your dependents can go to schools or pursue studies while living in a non-lucrative viza.
Work towards a work visa If desired
A non-lucrative Visa has the option of changing to a working visa after the successful renewal of the visa in the initial year.
Work remotely for a company located outside of Spain
A non-lucrative visa permits you to continue working remotely for a company that isn’t part of Spain.
Potential to invest
There is a chance to buy a home to be used for rental purposes.
Freedom of movement
Non-lucrative visa holders can travel without restriction inside The Schengen Area, which is an area of 26 European nations that have officially ceased all border controls such as passports, across their shared borders.
Stay in Spain without having to be in Spanish territory
Are you thinking of retirement in Spain? A non-lucrative visa is perfect if you are looking to retire and settle in Spain because there’s no need for you to be employed in Spain.
What documents are required to be submitted for the non-lucrative Visa as a British citizen?
British citizens who want to apply for a non-lucrative residence permit must meet the following requirements and be able to present the following documents:
Passport with at-least one year validity before the date it expires.
Certificate of non-criminal record in both Spain and the UK and Spain Valid for 3 months.
Have proof of sufficient funds. You will need to have a valid certificate of financial resources to cover the expenses associated with your stay for one year. For 2021-based monthly support, you must show that you have EUR27,115.20 on your bank account, or have a monthly minimum income of EUR2,259.60. In addition, for each child, you will need to contribute an additional EUR6,778,80 each year, or EUR564.90 every month.
Should not already be living in an illegal (irregular) situation in Spain.
Affordable health insurance.
Medical certificate to prove that you don’t suffer from any illness that can have grave health implications for public health in accordance with the International Health Regulations of 2005.
The application process for a non-lucrative visa within the UK
Where to apply
You need to apply for a non-lucrative travel visa prior to you depart to Spain The application has to be presented at the nearest Consulate General of Spain situated in the UK.
A request for a visa that is not lucrative must be made by the person who wants to obtain the visa.
An adult, parent or an authorized representative (in extreme cases) may apply on behalf of the minor.
What to expect
It is necessary to submit the necessary documents in order to be interviewed. A mandatory interview will be held at the consulate office, which will go towards the decision on the visa.
The consulate is then given one month to decide whether or not to approve your application. When your application has been approved, you then can wait for one calendar month following the date you received the announcement of approval to personally collect your visa from the consulate. In addition, you will receive the NIE (Numero de identidad de extranjero) together with your passport.
Arriving in Spain
The visa holder must arrive in Spain within three months from the announcement of the approval of your visa.
You will have one month from your date of entry to visit the Foreigners Office to request your TIE, which is a card for foreigners which is also known as the resident card. Additionally, within a month after arriving, you’re required to complete a registration at the town hall which is related to the town in which you reside in Spain.
What is the process to renew your visa for non-lucrative work?
To renew your non-lucrative visa To renew your non-lucrative visa, you must submit the following documents:
Application Form EX01 (two copies).
Your passport (valid for at 1 year at).
Copies of all pages of your passport.
Your current Tarjeta de Identidad de Extranjeros or TIE.
Fee Form 799-052 (paid with stamp).
Registration of your address in Spain ( padron ).
Health insurance that complies with the regulations from the Immigration Office.
Affordable and reliable income that is available for the next two years (monthly, more than four times the current annual IPREM for the principal applicant in addition, one IPREM for each member of the family).
If documents are not written in Spanish you will need to make use of a recognized official translation service that is deemed to be compliant by Spain’s Ministry of Foreign Affairs.
How does the non-lucrative visa differ from the Golden Visa?
It is a Golden Visa is another option for obtaining residency to Spain that is available to British citizens. It is an ideal option for entrepreneurs and investors who wish to make substantial investments in Spain such as setting up an enterprise or investing in existing businesses in Spain. It is also ideal for British citizens looking to expand their portfolio of properties in Spain or just buy the largest property in Spain.
What is the procedure to apply for 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 should not have any other encumbrances like mortgage. In addition, you should be able of proving that the cost of operating a property that is this high as well as general living expenses can be paid for.
Alternative ways to invest to earn a Golden Visa include:
One million euros in company shares or shares of Spanish capital firms engaged in actual business activities
One million euros of the investment fund, close-end investment funds or venture capital formed by Spain in one million euros of bank deposits at Spanish banking institutions.
Is this a suitable option for you?
It is possible to get the Golden Visa may be an excellent option if you own a house in Spain, valued at the threshold of EUR500,000 for investment that is free of mortgages or any other financial liens.
The Golden Visa also brings the benefits of providing the possibility for working Spain because it offers the option of working authorization.
Get assistance from our Spanish immigration lawyers
The Spanish immigration lawyers will advise and guide you through the whole process of submitting both visas. We’ll advise you on the viability of your application right from the beginning, and ensure that the accompanying documentation is valid and free from complications to ensure that you do not get rejected. We will be able to answer any questions you might have regarding the process of making an application.
Frequently asked questions
How long can you stay in Spain as non-resident?
Tourist visas permit residents to stay in Spain for only three months. Ninety days is the maximum duration you are able to legally reside in Spain without obtaining the residency certificate.
How much income do you require to be able retire in Spain?
It is a good idea to consider that the cost for living in Spain is relatively low, and you can retire comfortably in Spain with a budget of around $25,000 per year. However, this is relative to your lifestyle and is contingent on the location you select to reside in Spain.
What type of visa do you require before retiring in Spain?
Depending on their financial circumstances, British citizens wishing to retire to Spain usually apply for an Golden Visa or a non-lucrative visa to remain for a long time in Spain.
Is retiring in Spain is a good idea?
Spain has many advantages for people wishing to retire with a low cost of living, affordable healthcare and an extensive history and culture and has always been a sought-after destination for retirement.
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