Spain’s Non-Lucrative Visa is a residence visa specifically designed for individuals who wish to reside in Spain without engaging in any professional or commercial activities. It’s ideal therefore for retirees, or those with sufficient financial means to support themselves without working locally. The main appeal of the Non-Lucrative Visa lies in its ability to provide a legal pathway to live in Spain, enjoying its culture, climate, and lifestyle, without the need for local employment.
Eligibility Criteria
Open to Non EU residents (which includes those from the UK following the Brexit vote) applicants for the Non-Lucrative Visa must meet several requirements:
- Proof of Sufficient Financial Resources: Applicants must demonstrate they have enough income or savings to support themselves without working. The Spanish government sets specific financial thresholds that applicants must meet, usually a fixed amount for the primary applicant and additional funds for each family member.
- Health Insurance: Applicants must have private health insurance from a company operating in Spain.
- No Criminal Record: A clean criminal record for the past few years in the applicant’s country of residence
- Not Be in Spain Illegally: Including not being banned from entering Spain
Renewal and Path to Residency
Typically the Non-Lucrative Visa is granted for one year, and then it can be renewed every two years. After five years of legal residence in Spain, holders may apply for long-term residency, and after ten years, they may be eligible for Spanish citizenship, subject to meeting the necessary criteria.
Advantages
The main advantages of this visa are the opportunity to live in Spain without the need for local employment and the pathway it provides to long-term residency and citizenship. Add in, that once you attain it, it allows you to bypass the 90/180 day rule as well as having unhindered access to the Schengen area, and you have a win-win situation.
Conclusion
The Non-Lucrative Visa in Spain offers a fantastic opportunity for those looking to enjoy the Spanish lifestyle without engaging in local employment. While it requires financial means and comes with some restrictions, it remains a popular choice for expatriates seeking a life in Spain.
If you’d like further information on Spain’s Non-Lucrative Visa then please contact us & we’d be delighted to put you in contact with a lawyer to help you through the process or answer any questions you may have.
Similarly if you’d like to take advantage of the Non-Lucrative visa and buy a property on either the Costa Blanca South or Murcia, please do speak with one the team.