With a wonderful atmosphere, culture and beautiful views The stunning scenery, the culture and climate Spain is undoubtedly an attractive alternative for living and retirement. Many people in the UK who own Spanish properties are planning to take retirement in the warm weather of Spain. However, after the Brexit withdrawal on the 01st of January 2021 The Legal Regime for Foreigners will apply to British residents, and restricts the number of days they can spend in Spain. To live in Spain or to retire for Spain, British citizens may apply for a variety of visas. One of them is the non-lucrative residence visa.
In this article we will explain what a visa that is not lucrative one is, how a British citizen can get a non-lucrative visa and the way it compares to that of the Golden Visa. We also discuss the benefits of obtaining one and why it might be your solution to retiring in Spain.
What is a non-lucrative travel visa and who is it ideal for?
Spain’s non-lucrative visa allows non-EU citizens to stay in Spain provided they prove that they have the resources to provide for themselves and their family. The non-lucrative Visa can be requested by citizens of third countries who would like to reside in Spain for longer than 90 days but do not intend to work in Spain. This visa is perfect for foreign nationals who plan to retire in Spain or just want to live in Spain for extended durations, for instance, during the warm summer months.
What is the different between a non-lucrative and the Golden Visa?
The non-lucrative visa is different in comparison to it’s counterpart, the Golden Visa in that a Golden Visa requires one of a range of kinds of investments in Spain which the most typical of that is the purchase of a house valued at over EUR500,000. Other options for investment focus on commercial investments.
The non-lucrative travel visa for Spain is an ideal option for British retirees or non-working residents, as the UK is not a member of the EU and does not require an investment in any way.
How long is a non lucrative visa to Spain valid, and can you renew the validity of your visa?
Once you’ve secured your non lucrative visa Spain the visa will be valid for one year. After this, you can request renewal for an additional time period of two years. then your visa is renewed for a further two years. After five years of legal residency you may apply for permanent residency. Renewing a non-lucrative visa must be submitted in Spain.
Learn more about renewing your non-lucrative Visa below.
A non-lucrative permit requires an average of 183 days of stay in Spain each year in order to be renewed after each expiration.
After five years of legal residency in Spain In Spain, you will have the opportunity to apply for a long-term residency permit. Once you have obtained permanent residency after ten years of residency you can apply to 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 an Spanish non-lucrative passport as an British citizen provides the following benefits:
There is no requirement for investment in Spanish property
As opposed to other visas, such as the Golden Visa, there is no need to make an investment in the Spanish economy to be made for this visa.
Request a family or joint visa
Your spouse can be included or other members of your family, as long as they are family members who can be included in your visa. Children of dependents may attend the school or university while they live on a non-lucrative visa.
Progress to a working visa Should you choose to do so
A non-lucrative visa has the ability to be changed to a working visa after its successful renewal in the first year.
Remotely work for a company that is located outside of Spain
A non-lucrative visa permits you to continue to work remotely for a company that isn’t part of Spain.
Potential to invest
You can invest in a property to be used for rental purposes.
Free movement
Non-lucrative visa holders are able to move freely inside those who are not lucrative visa holders can travel freely within the Schengen Area, which is an area that includes 26 European countries that have official abolished all border control and passports at their mutual borders.
Reside in Spain without having to work within Spanish territory
Do you have hopes for retirement in Spain? The non-lucrative Visa is the best option if you are looking to settle down and retire in Spain, as there’s no requirement to work in Spain.
What documents must be submitted in order to obtain a non-lucrative visa as a British citizen?
British citizens who wish to apply for a non-lucrative residence permit must meet the following conditions and be able to present the following documents:
Passport with at least one-year validity prior to its expiration date.
Certificate of non-criminal conviction in both and UK and Spain Valid for 3 months.
Be sure to have proof of adequate funds. You will need to have a valid certificate of financial resources to cover the expenses of your stay for a year. Through 2021, in order to receive each month, you will need to show that you have EUR27,115.20 in your account or that you receive a minimum monthly salary of EUR2,259.60. In addition, for each child, you need to be able to provide an additional €6,778,80 per year, or EUR564.90 monthly.
Should not already be living in a non-legal (irregular) situation in Spain.
Health insurance that is sufficient.
Medical certificate that proves that you do not suffer from any illness that could cause serious public health implications 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 leave for Spain The application has to be made in the nearest Consulate General for Spain within the UK.
A request for a visa that is not lucrative must be made by the person who wishes to apply for the visa.
An adult, parent, or a duly authorized representative (in extreme situations) is able to apply on behalf of a minor.
What can you expect?
You must submit the necessary documents, and a mandatory interview will take place at the consulate , which will go towards the final decision regarding the visa.
The consulate will then have one month to approve or deny your application. If your application is approved then you are given a month after the date you received the announcement of acceptance to collect your permit from the consulate. Also, you will be issued your NIE (Numero de identidad de extranjero) together with your visa.
Arriving in Spain
You must arrive in Spain within 3 months of receiving the confirmation of grant of your visa.
You have one month from your date of entry to visit the Foreigners Office to obtain your TIE, which is a foreigner’s identity card or the resident card. In addition, within one month after arriving, you’re required to complete a registration at the town hall that is corresponding to the town in which you are residing in Spain.
How do you renew your non-lucrative passport?
To renew your non-lucrative visa, you will need to present the following documents:
Application Form EX01 (two copies).
The passport you have (valid for at minimum one year).
Copies of all pages of your passport.
Your current Tarjeta de Identidad de Extranjeros or TIE.
Fee Form 799-052 (paid and stamped).
Your address registration for Spain ( padron ).
Health insurance that meets the requirements that are set by the Immigration Office.
Affordable and stable income available over the coming two years (monthly at more than four times the amount of the current year’s IPREM for the main applicant, plus one IPREM for each member of the family).
For documents that have not been prepared in Spanish you’ll need to make use of a recognized official translation service that has been certified as compliant to the Spanish Ministry of Foreign Affairs.
How does the non-lucrative visa compare to the Golden Visa?
It is a Golden Visa is another option to reside in Spain in the case of British citizens. It is an ideal option for entrepreneurs and investors who wish to make substantial investments in Spain, including setting up an organization by investing in businesses in Spain. It’s also a great option for British citizens who want to expand their portfolio of property investments in Spain or even purchase the largest property in Spain.
What are the conditions to be met to receive the Golden Visa?
To obtain the Golden Visa, you need an investment value equal to or greater than EUR500,000 Euros per applicant. This should be devoid of any other encumbrances like mortgages. In addition, you must be able of proving that the cost of running a property of this value plus general living expenses can be covered.
Alternative investment methods for obtaining a Golden Visa include:
One million euros of shares of a company or shares of Spanish capital firms that are engaged in actual business activities
One million euros of the investment fund, close-end funds, or venture capital fund constituted in Spain and one million euros of bank deposits at Spanish financial institutions.
This could be a good choice for you?
This Golden Visa may be an excellent option when you own a home in Spain that is valued at the EUR500,000 investment threshold that is not encumbered by mortgages or any other financial lien.
This Golden Visa also brings the benefit of giving the option of working in Spain because it offers the option of obtaining a work permit.
