What is a Non-Lucrative Visa Spain?
A non-lucrative resident visa is a special type of residency permit in Spain for non-European nationals who want to stay in the country for an extended period of time. This residence visa is non-profit in the sense that you will be unable to engage in any economic or professional activities while in Spain.
This visa does not require you to invest in Spain. Applicants must, however, demonstrate their financial ability to sustain themselves in Spain for at least one year without working.
After the first year of residency in Spain, this visa is subsequently renewable every 2×2 years, making a total of 5 years stay. Anybody who wishes to stay permanently in Spain after that can apply for a permit to become a permanent resident of Spain. Furthermore, the non-lucrative residency visa in Spain allows you to bring your family members as long as you have the funds to support them.
Benefits of Spain’s Non-Lucrative Visa
- Before moving to Spain on a Non-Lucrative visa, you do not need to invest in the Spanish economy.
- If you have sufficient funds to support your stay in Spain for 10 years without permanent employment, you can pursue this visa to attain Spanish nationality for an easier route.
- This visa also permits you to visit any Schengen state for up to 90 days without needing to apply for another visa. Austria, Belgium, the Czech Republic, and Denmark are among the Schengen nations’ 26 members.
- This visa is also an excellent choice for those who want to reside in Spain and earn money passively. Pensions, rentals, and dividends can all be sources of income.
Criteria to apply for Spain’s Non-Lucrative Visa
Applicants for the Non-Lucrative Visa to Spain must have at least 400% of the IPREM value in their bank account each year. The 400% IPREM value each month for 2021 is now 2.259,6€. This results in an annual IPREM value of €27.115,2 (minimum).
You must produce proof of 800% IPREM in your bank account during the visa renewal process since it is done for another two years. If you obtain employment in Spain, you may be able to change your visa to a more lucrative resident visa by applying for a residence modification.
In addition, the non-profit visa Spain holder becomes a tax resident because they must stay for at least 180 days every year in order for the visa to be renewed.
IPREM is a metric used in Spain to estimate an individual’s yearly minimum income.
Under the Spanish Non-Lucrative Visa, each extra family member must pay an additional €6,768 per year. The official currency is the Euro, thus applicants’ bank balances must be in Euros or another foreign currency that can be converted to Euros.
The needed sum of money can be allocated over several bank accounts. The bank statement must be no more than six months old. Furthermore, the primary visa applicant must have the funds in their name or on their behalf.
Anyone applying as a dependant of a Non-Lucrative Visa Spain applicant must provide a marriage certificate or a birth certificate that has been apostilled and translated by a sworn Spanish translator.
When and Where To Apply
Before coming to Spain, you must complete the application process in your home country. It implies that visitors who have already entered Spain will be unable to apply for a Non-Lucrative Visa. After they arrive in Spain, successful candidates are given a residency card.
The Non-Lucrative Visa Spain must be applied for at least five weeks before departure. The application, however, should not be more than three months old. An application for a visa can be filed through the Spanish embassy, a consulate, or even an authorized third-party firm that issues visas on Spain’s behalf.
Process of Spain’s Non-Lucrative Visa Application
- Interview for Non-Lucrative Visa Spain – The interview takes place in your home country, where you started the visa application procedure. During the interview, the applicant meets with the visa consular and gives all necessary supporting documents.
- Biometric – Your biometric data, including the facial image and the fingerprints, will be captured.
- Spanish Non-Lucrative Visa Fee – The amount must be confirmed as it depends on each country and its consulate.
- Processing Time – The application is reviewed by the Spanish government delegation within the first month of application. The application is considered denied due to “administrative silence” if the review takes longer than one month.
- Obtaining NIE – This visa has an NIE Spain number imprinted on it. This is a unique identifying number for all international visitors planning to visit Spain. Each foreigner’s NIE number is unique and does not change over time. It is necessary for the purposes of identification.
- Obtaining TIE – After entering Spain on a non-lucrative visa with an NIE number, you will be granted three months time to apply for a foreigners’ identity card. The procedure of getting a TIE includes registering your residential area with the municipality authority. After that, you must appear at a police station, register your fingerprints, and collect the TIE.
Find out if you are eligible to apply for Spain’s Non – Lucrative Visa here.
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