Published at October 10, 2022
A popular temporary residency visa is the 'Non-Lucrative Visa'. On this visa, it is prohibited to engage in any work or professional activity within Spain, and you must have the ability to prove sufficient funds to cover your living expenses and, where appropriate, those of your family members, for the duration of your stay.
In the first instance, this visa allows you to stay in Spain for up to one year from the moment you enter the country. After that, you have the option to renew the permit up to two times in succession, each for a duration of two years, until a five-year period has been reached. At this point, if you would like to stay even longer, you can apply for permanent residence.
It is worth noting that by staying in Spain for more than six months per calendar year, you will become a tax resident of the country.
With the small list of requirements needed to obtain this Non-Lucrative Visa, it is a relatively easy visa to apply for.
- Sufficient financial means
- Public or private health insurance with full coverage in Spain (min. contract one year).
- Medical certificate with three months validity – legalised and sworn translated into Spanish
- Valid passport or travel document
- Certificate of criminal record in all countries you have lived in within last five years – legalised and sworn translated into Spanish
- Marriage / birth certificates (if applying for family members) – legalised and sworn translated into Spanish
How to Demonstrate Sufficient Funds
The Spanish immigration system uses an indicator system called IPREM to calculate minimum income thresholds to prove economic stability. As of 2022, the monthly minimum income indicator is €579.02, and the annual minimum, €6,948.24.
As an individual applicant, you need to demonstrate that you have four times the IPREM amount. For every additional family member, you need to add an extra one times the IPREM.
Benefits Of This Visa
- You don’t need to invest in the country to get the residency.
- You can take your family with you.
- You can obtain permanent residence after five years and after 10 years, Spanish Nationality.
- Although you are unable to work in Spain whilst on this visa, you can still invest (e.g, in shares or property) and thus obtain an extra source of income.
At Nockolds Lawyers Spain, we are specialists in Visas, and can assist with not only guiding you through the entire application process, but also providing you with sworn translations.
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