If you’re planning to relocate to Spain for an extended period without the intention of working, you’ll need to apply for a non-lucrative residence visa. This visa permits you to reside in Spain for an initial period of one year, renewable to two years, with a final renewal of another two years.
However, after two years, citizens of the Philippines and other former Spanish colonies (such as Argentina, Colombia, etc.) can already apply for Spanish citizenship. This shortened citizenship route makes the non-lucrative visa an attractive way for these eligible citizens to gain Spanish citizenship under a shorter period of time.
Who Is Eligible for a Non-Lucrative Residence Visa?
Obtaining this visa can be a complex process, so it’s crucial to understand the requirements and follow the procedures accurately. The main requirement for this visa is that you must be able to show that you have minimum monthly passive income of at least €2400 plus an additional €540 for each dependent you plan to bring to Spain (as of January 2024). Aside from this, it is also ideal that you show savings of at least €20,000 to show that you can support your stay in Spain.
Please note that a non-lucrative visa does not allow you to work in Spain. It was primarily designed for retirees who were receiving a monthly pension. However, it has also been granted to people with businesses. What is important is that the minimum monthly income must be reflected in the applicant’s personal bank account statement (and not the company’s) for at least a minimum of one year.
Requirements for the Non-Lucrative Residence Visa
To apply for a non-lucrative residence visa, you’ll need to gather and submit a variety of documents. Here are the key requirements:
- Application Forms
- Personal Documents:
- Valid passport with at least 12 months of remaining validity
- One recent passport-size photo with a white background
- NBI (National Bureau of Investigation) clearance, authenticated by the Department of Foreign Affairs (DFA) (valid for 6 months)
- Medical certificate from a DOH-accredited hospital or clinic, indicating the absence of diseases that may pose a serious public health risk, authenticated by the DFA (valid for 3 months)
- Financial Requirements:
- Proof of economic means, such as bank certifications or financial statements
- Minimum monthly income of €2,400, plus an additional €540 for each additional family member (as of January 2024)
- Health Insurance:
- Medical/health insurance from a company accredited in Spain
- Letter of Motivation:
- A letter written in Spanish explaining the reason for your visa application and indicating your intended place of residence in Spain
- Translation of Documents:
- Any documents presented in English must be translated into Spanish by a recognized Spanish translator (traductor jurado) accredited by the Spanish Ministry of Foreign Affairs.
It’s important to note that additional documents may be requested by the Spanish authorities, so it’s advisable to have all relevant documentation ready.
Other supporting documents may be requested to verify your sources of funds, such as SEC or DTI papers, Articles of Incorporation and Bylaws, Personal Income Tax Return, Company Income Tax Returns, Financial Statements, Rental Contracts, Stocks, Bonds, Dividend Reports, Certificate of Employment, and Certificate of Contribution to the Social Security System.
Once you’ve gathered all the required documents, you can proceed with the application process.
Tips and Considerations
Applying for a non-lucrative residence visa for Spain can be a complex process, so it’s important to keep the following tips and considerations in mind:
- Ensure that you provide complete and accurate information in all the required documents.
- Gather all the necessary documents well in advance to avoid any delays.
- Allow sufficient time for processing, as the visa application process can take several weeks or even months.
- Be prepared for the possibility of additional requirements or requests for clarification from the Spanish authorities.
- Consider seeking professional assistance from an immigration specialist or a lawyer like us if you’re unsure about any aspect of the application process.
Conclusion
Obtaining a non-lucrative residence visa for Spain requires careful preparation and attention to detail. By understanding the requirements, gathering all the necessary documents, and following the application process diligently, you can increase your chances of a successful visa application. Remember, seeking professional assistance can be invaluable if you encounter any difficulties or have specific concerns. With proper planning and preparation, you’ll be one step closer to making your dream of residing in Spain a reality.
Contact us today at kpborra@borralaw.com if you’d like to begin the process of obtaining a non-lucrative visa. Our fee to assist you is only €400. Send us a message now!
